S&P's DBS Bank ratings unaffected

Standard & Poor's said the ratings and outlook on Singapore-based DBS Bank Ltd. (AA-/stable/A-1+) are not immediately affected by the company's bid to acquire a majority stake in Korea Exchange Bank (BBB/stable/A-2) from the Lone Star Group. This forms part of the preliminary bidding process for Korea Exchange Bank, and DBS Bank is reported to be competing with other Korean banks for the preferred bidder status.

S&P said that if successful, the bid could mark DBS Bank's first major foray into an area outside of its previous focus on the Greater China region and India.

As at Dec. 31, Korea Exchange Bank reported total assets of Korean won 64.9 trillion, equivalent to about three-fifths of DBS Bank's total assets of S$180.2 billion, which includes its overseas assets.

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