DBS Group Holdings (SGX:D05) subsidiary DBS Bank has increased its stake in Shenzhen Rural Commercial Bank to 19.4% from 16.69%, acquiring an additional 2.71% for SG$295 million, according to a Monday filing on the Singapore Exchange.
The deal, funded by internal resources, is expected to boost earnings and return on equity, with minimal impact on DBSH's capital ratios, the lender said in the filing.
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