Reuters India, 22 Dec 2008, Kevin Lim
SINGAPORE, Dec 22 (Reuters) - Singapore's DBS Group (DBSM.SI: Quote, Profile, Research) said on Monday its planned S$4 billion ($2.74 billion) rights offering was not in preparation for potential mergers and that the bank will focus on organic growth.
"Capital raising is not intended for any M&A activity or for provisions," CEO Richard Stanley said during a conference call.
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