DBS Group Holdings in Singapore, as well as Credit Suisse from Switzerland are both vying for the ownership of SocGen’s Asian private banking division. The bank is managing approximately $13 billion, which is well under the mark for what’s expected for a bank to make it big in a particular region, $20 billion. These smaller numbers of assets make it more difficult to cope with managing the budget, as they just don’t have that kind of interest revenue. They won’t get the best bankers and they will have issues when it comes to both technology spending as well as dealing with governmental regulators. All of these problems can hit a small bank hard, and they simply won’t be profitable. Allegedly, the worth of the business itself is around $400 million, but the sources weren’t given the go-ahead to talk to the press. Therefore, there’s still a lot of speculation over these figures. However, banking in Asia is beginning to skyrocket more than it ever has, because of a lot of new millionaires and billionaires that are seemingly just popping up. That means there’s going to be a demand for the banking resources that are following them.


For more details on the article Click Here