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What is DBS 2Q13 Results: Danamon Deal Off about?

DBS Group Holdings reported 2Q13 results that were in line with expectations. Loan growth remained strong at 14% year-over-year, while net interest margins were stable. The proposed acquisition of Bank Danamon did not proceed due to issues around control. However, management remains confident in driving 10-11% annual top line growth from existing businesses and expanding its existing operations in Indonesia. The lapse of the Danamon deal removes a major overhang for the stock, though expansion in Indonesia

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phuawl

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EN