DBS says to expand China outlets to 50 by end-2013

SHANGHAI, Dec 15 (Reuters) - DBS Group, Southeast Asia's biggest lender, plans to double its China staff next year and expand its China outlets to 50 by the end of 2013, a senior executive said after an announcement it was acquiring some of Royal Bank of Scotland's business in China. DBS expects to double its Chinese client base after taking over RBS' retail and commercial businesses in three Chinese cities, its China chief Melvin Teo told reporters in Shanghai. The deal ends more than a year of speculation over who will acquire RBS' China assets, with rivals including HSBC Holdings Plc, Standard Chartered and Australia and New Zealand Banking Group having all been identified by media as potential buyers. (Reporting by Samuel Shen, David Lin and Jacqueline Wong; Editing by Jason Subler) ((Samuel.shen@thomsonreuters.com; +86 21 6104 1789; Reuters Messaging: samuel.shen.thomsonreuters.com@reuters.net)) Keywords: DBS/OUTLETS (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.