Singapore's DBS to inject $460 million into China operations

DBS Group Holdings Ltd , Southeast Asia's largest bank, said on Wednesday it plans to make a capital injection of 2.3 billion yuan (S$459.8 million) to boost its fast-growing China unit.

DBS China will invest in network expansion, increase staff and upgrade infrastructure and other technology platforms, the Singapore bank said in a statement.

The capital injection is subject to regulatory approvals.

DBS said the planned capital injection will be the first in its wholly owned China subsidiary that was set up five years ago with a capital of 4 billion yuan.

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