Once focussed on corporate banking, DBS Bank India will now compete with larger retail-focussed banks and acquire more business by integrating with the businesses of traditional small business lender Lakshmi Vilas Bank
Lakshmi Vilas bank: Pradeep Gaur/SOPA Images/LightRocket via Getty Images; Development Bank of Singapore: Image by ROSLAN RAHMAN / AFP
The contours of the new DBS Bank India—into which failed private sector Lakshmi Vilas Bank (LVB) was amalgamated into eight months ago—are being put into shape. DBS Bank India, the wholly owned subsidiary of Singapore’s largest lender DBS, is strengthening its retail lending to acquire new customers by leveraging on LVB’s original strengths, banking with small businesses and retail consumers.