DBS flags more pressure on the mortgage business
It now expects new mortgage bookings to come in at S$2.5b for the year, slashing its forecast for 2018 by S$1.5b
Singapore
DBS Bank chief executive officer Piyush Gupta has flagged that the mortgage business is expected to see more pressure than earlier expected, with new bookings slowing and as drawdowns on home loans previously booked appeared to be slower than usual.
DBS, Singapore's biggest mortgage provider, now expects new mortgage bookings to come in at S$2.5 billion for the year, slashing its property loan growth forecast for 2018 by S$1.5 billion, Mr Gupta told reporters at the bank's third-quarter results briefing on Monday.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Carnival’s Princess brand revises 2025 world cruise routes amid Red Sea tensions
Google to pay up to US$6 million to News Corp for new AI content, The Information reports
Restaurant Brands tops estimates as Burger King overhaul pays off
Yen falls after suspected intervention on Monday; eyes on Fed
US: Wall St opens lower on labour costs data
TikTok shop tops 500,000 US sellers after 2023 e-commerce launch