WITH business momentum strong in the third quarter of 2022, DBS will likely remain resilient and post a “solid year” in 2023, said DBS chief executive Piyush Gupta.

Gupta noted, however, that the tail-risk scenario of high rates and high inflation will likely play out next year, with inflation remaining sticky and the US Federal Reserve continuing its rate hikes.

“There is a lot of uncertainty with these high interest rates, and we haven’t seen this environment in a long period of time,” Gupta said on Thursday (Nov 3).