29 Nov '11, 2am

Singapore banks worth more than some European lenders

Singapore banks worth more than some European lenders

By Goh Eng Yeow, Senior Correspondent Singapore's three lenders are worth more than some of the world's biggest and best-known banks, as the debt crisis takes it toll on Europe's blue-chip financial services firms. As of last Friday, DBS Group Holdings, OCBC Bank and United Overseas Bank (UOB) were all more valuable in terms of market capitalisation than French banks Societe Generale and Credit Agricole, and Germany's No. 2 lender Commerzbank. Both DBS and OCBC are also worth about 75 per cent of German lender Deutsche Bank and Britain's Barclays, which run huge investment banking operations in the region. Related Links BANKING GIANTS HUMBLED Comparisons with the American giants are also telling. Please enable JavaScript to view the comments powered by Disqus. blog comments powered by Disqus

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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