DBS CEO makes tentative guess on oil-and-gas trough
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Singapore
DBS chief Piyush Gupta hopes the oil-and-gas sector is at its trough, even as the ripple effect from Swiber's collapse makes its way through the industry. But the prognosis might just be wishful thinking, quipped the boss of Singapore's biggest bank.
A hefty jump in bad-loan provisions at DBS meant record income in the third quarter was eventually compressed into flat growth in net profit at S$1.07 billion for the three months ended Sept 30, 2016, compared to a year ago, the bank said on Monday. That translated to an annualised earnings per share of S$1.67, unchanged from a year ago.
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