DBS to Take Over Some RBS Banking Businesses in China

BusinessWeek, 15 Dec 2010Dec. 15 (Bloomberg) -- DBS Group Holdings Ltd., Southeast Asia’s biggest bank, said it will take over Royal Bank of Scotland Group Plc.’s retail and commercial banking businesses in China.RBS will transfer close to 25,000 clients in Shanghai, Beijing and Shenzhen to DBS China, Singapore-based DBS said in a statement today. DBS didn’t spend any money on the deal, Melvin