DBS Sees Growth in China Despite Headwinds; Expands in India and Indonesia
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DBS chief says pessimism about China's economy is not overdone, citing real estate sector overhang and other headwinds.
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DBS aims to expand in China, plans to increase stake in Shenzhen Rural Commercial Bank.
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DBS wants to triple business in India over next 3-5 years, targeting $1.3-$1.5 billion in annual revenues.
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DBS identifies Indonesia as another key growth market.
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DBS' wealth management business benefiting from strong inflows across Asia, Middle East and Europe.