DBS’ plan to buy stake in Malaysia’s Alliance Bank said to have stalled

DBS’ plan to buy stake in Malaysia’s Alliance Bank said to have stalled

A stake in Alliance Bank would give DBS a wider footprint in Malaysia. Read more at straitstimes.com.

DBS' acquisition plans for Alliance Bank Malaysia face delays

DBS Group’s intentions to acquire a substantial stake in Alliance Bank Malaysia have encountered delays, primarily due to the absence of regulatory approval, reported Bloomberg, citing sources familiar with the developments.  Both DBS, one of the top banks in Singapore, and Vertical Theme, the major shareholder of Alliance Bank, submitted separate requests to Malaysia’s central bank around eight months ago.   However, they have yet to receive an…

DBS Plan to Acquire Alliance Bank Stake Held Up by Regulatory Review - Fintech Singapore

DBS Group’s push to expand into Malaysia has hit a snag, with Bloomberg reporting that its proposed purchase of a stake in Alliance Bank is on hold while it awaits clearance from the central bank. People familiar with the matter said DBS and Alliance’s biggest shareholder, Vertical Theme, filed applications with Bank Negara Malaysia about eight months ago but have yet to hear back. Approval is required before discussions on a sale can take place…