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DBS says China trade-related loans down S$7b quarter on quarter

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DBS Group Holdings's first-quarter China trade-related loans were down S$7 billion quarter-on-quarter on lower commodity prices and the convergence of onshore and offshore interest rates, CEO Piyush Gupta said.

[SINGAPORE] DBS Group Holdings's first-quarter China trade-related loans were down S$7 billion quarter-on-quarter on lower commodity prices and the convergence of onshore and offshore interest rates, CEO Piyush Gupta said.

His comments came at an earnings briefing after the bank posted a 10 per cent rise in core first-quarter net profit, above analysts' estimates, helped by a double-digit rise in loan growth and strong wealth management fees.

REUTERS

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