DBS Bank India Gets Capital Infusion of Rs. 2,500 Crore from DBS Bank Singapore for LVB Merger

DBS Bank India Limited (DBIL) has received a capital infusion of Rs.2,500 crore from its parent firm DBS Bank Limited, Singapore to support its amalgamation with Lakshmi Vilas Bank (LVB).

In a statement, DBIL said that it is well-capitalized, and its capital adequacy ratio (CAR) remains above regulatory requirements after the amalgamation.

The amalgamation will provide stability and better prospects to LVB’s depositors, customers and employees following a period of uncertainty, the bank said. It further added that once the integration is complete, customers will be able to access a wider range of products and services, including the full suite of DBS digital banking services.

The scheme of amalgamation will be effective on November 27.

Earlier in November, RBI placed crisis-ridden LVB under a moratorium. It also announced its merger with DBIL, which has presence in India since 26 years.