The signing of the Johor-Singapore Special Economic Zone has likely increased the urgency for DBS to expand its presence in the Malaysian market, say CreditSights analysts.
According to media reports, the Singapore-listed bank is considering expanding in Malaysia through Alliance Bank Malaysia.
DBS CEO Piyush Gupta has previously said that Malaysia has always been a core market for the Singapore-listed bank, although it has faced constraints due to regulatory or governmental issues, they note. DBS only has a branch in Malaysia that serves corporate clients, while its local peers OCBC and UOB have longstanding and significant presences in Malaysia with their subsidiaries among the leading foreign banks in the country, they add.
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