SINGAPORE (Standard&Poor's) March 17, 2014--Standard&Poor's Ratings Services said today that its counterparty credit ratings on Singapore-based DBS Bank Ltd. (AA-/Stable/A-1+; axAAA/axA-1+) are unaffected by the bank's acquisition of the Asian private banking business of Societe Generale in Singapore and Hong Kong. DBS will use its cash to fund the purchase cost of about 280 million Singapore dollars. There is no immediate impact on the financial profile of DBS. The transaction is subject to legal and regulatory approvals, and is scheduled to be completed by the fourth quarter of 2014. It is part of DBS' long-term strategy to enhance its wealth management franchise. RELATED CRITERIA Banks: Rating Methodology And Assumptions, Nov. 9, 2011
