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COPYRIGHT 2005 Asia Pulse Pty Ltd
An executive briefing on banking for June 17, 2005, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.
SINGAPORE'S DBS INVESTS US$52 MLN IN INDIAN FINANCIAL SERVICE JV
SINGAPORE - A joint retail financial services group is to be developed in India by Singapore's DBS Bank and Cholamandalam Investments and Finance Company Limited (CIFCL), a part of one of India's largest non-bank financial entities, the Murugappa Group.
The new operation, in which DBS and the Murgappa Group will be equal partners, will focus on consumer finance, asset management and securities.
FITCH UPGRADES KOREA EXCHANGE BANK'S RATING
SEOUL - Fitch Ratings said Friday it has upgraded its long-term credit rating of Korea Exchange Bank to "BBB," citing the lender's improved financial condition.
South Korea's sixth-largest lender, controlled by U.S. investment fund Lone Star, marked notable improvements in its operating profit as well as its asset quality, Fitch said in a statement.
KEY SINGAPOREAN BANKS TO GAIN FREE ACCESS TO INDIAN MARKET
NEW DELHI - Three of...
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