DBS takes 'sensible' approach to adding AUM

Singapore

DBS'S integration with Societe Generale's private banking business in Asia may have breezed past the bank's targets, but the bank's chief will not chase assets wilfully.

In a broad-ranging interview, chief executive officer Piyush Gupta called the bank "sensible bidders", even as assets are up for the taking from Western banks shedding their presence in this part of the world.

"We're not the high bidder on anything. We bid on what we think is value," he told The Business Times, without mentioning any specific targets.

"People tend to think, 'you're going to chase AUM (assets under management)'. I don't want to; it's not that important. Our organic growth i…