DBS Group's Q3 Result in Line; Acquires ANZ's Private-Wealth and Retail Business in Asia
DBS Group announced a third-quarter result in line with expectations and the acquisition of Australia and New Zealand Banking group, or ANZ's, retail and private-wealth business in Singapore, Hong Kong, China, Taiwan, and Indonesia for SGD 110 million above book value. This represents 0.5% of total assets under management outstanding, in line with previous transactions. The acquisition will add SGD 11 billion in loans and SGD 17 billion in deposits, representing increases of 4% and 3% respective...DBS Group Holdings is an investment holding, treasury and funding vehicle for itself and its subsidiaries. Co.'s main subsidiary is DBS Bank Ltd, which is engaged in a range of commercial banking and financial services, principally in Asia. Co.'s various business segments are: Consumer Banking/ Wealth Management, which provides individual customers with a range of banking and related financial services; Institutional Banking, which provides financial services and products to institutional clients; as well as Treasury, which provides treasury services to corporations, institutional and private investors, financial institutions and other market participants.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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