DBS faces potential culture clash as it takes over Lakshmi Vilas Bank


By Nupur Anand, Chris Thomas and Anshuman Daga MUMBAI/BENGALURU/SINGAPORE (Reuters) - DBS Group's move to take over troubled Lakshmi Vilas Bank will give Southeast Asia's largest lender the boost in India it has long desired, but aligning the two banks' business cultures could prove tricky.

LVB, facing mounting bad loans and governance issues and a failure to secure capital, is set to be folded into DBS's Indian subsidiary under a plan proposed by India's central bank, which took control of the 94-year old Chennai-based.

This article is no longer available in our repository.

There could be multiple reasons for this.