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Development Bank of Singapore Group: 900 jobs

November 20, 2008

Even the Development Bank of Singapore Group -- Southeast Asia's biggest bank when one looks at assets -- has not escaped the mayhem. It has reduced its staff strength by 900 employees in its battle to survive the global credit crisis and a 38 per cent slump in third quarter net profit.

The cuts will affect its offices in Singapore and Hong Kong.

Image: A man walks past a Development Bank of Singapore branch in the financial district of Raffles Place in Singapore | Photograph: Roslan Rahman/AFP/Getty Images

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