The amalgamation provides stability and better prospects to LVB's depositors, customers and employees following a period of uncertainty, it said, adding 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 came into effect on November 27.

DBS Bank has been present in India for 26 years, having opened its first office in Mumbai in 1994. It is among the first large foreign banks in India to start operating as a wholly-owned, locally incorporated subsidiary of a leading global bank.

Visit news.dtnext.in to explore our interactive epaper!