The Monetary Authority of Singapore reiterated its May 21 statement, saying it and Bank Indonesia are exploring further access into each other's markets, while Bank Indonesia Gov. Agus Martowardojo said the bank's position was unchanged and that "reciprocal" treatment is one of the considerations to allow DBS buy a bigger take in the Bank Danamon.
DBS, once the Development Bank of Singapore and still the banking face of the island state and its Temasek investment fund, is seen pushing outward from its Southeast Asian base toward a broader pan-Asian presence.
This year's merger between DBS Group Holdings of Singapore and the Dao Heng Bank of Hong Kong illustrates the high price outsiders are willing to pay for quick entry--3.2 times book.
Analysts at DBS Bank Ltd. in Singapore suggested the U.S. housing data was not all that spectacular, since it reflects a big jump not in single family homes but in apartment construction, which is typically volatile.
Its focus on the mass consumer market fits with DBS's goal of becoming a leading Asian bank with a more diversified revenue mix across some markets.
"The central bank is unlikely to embark on an aggressive easing cycle if they are not convinced that the structural constraints have been addressed, " said Radhika Rao, economist at DBS bank.
Singapore's DBS Bank is spreading across Asia and is becoming a formidable competitor to the big international banks such as Standard Chartered, HSBC and Citigroup in some of the world's fastest-growing markets.
It merged with Far East Bank to form the largest local lender, and tied up with Singapore's DBS to lift regional operations, even as domestic banking opens up further to foreigners.
"Firm CPI numbers raise upside risks for the WPI inflation number, especially on food costs, " said Radhika Rao, an economist at DBS Bank.
By this measure, it is bigger than Singapore's DBS Group and Korea's Kookmin Bank, and has attracted big stakeholders such as the Temasek fund of Singapore (it has 7.6%) and CLSA and Merrill Lynch funds.
应用推荐