Under the scheme, DBS India will take over Lakshmi Vilas Bank’s INR20,973 crore ($3.9 billion) in deposits and INR13,505 crore in net advances.
The former will also absorb the latter’s 563 branches, that are predominantly located in South India.
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The amalgamation will be effective as at Nov 27.
As at 9.13am, shares in DBS were trading 23 cents lower or 0.9% down at $25.45.
