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
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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.
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