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DBS says even at US$20 per barrel for 2 years, provisions won't exceed S$200m
[SINGAPORE] Singapore's DBS Group said if oil prices dip to US$20 a barrel and stay at that level for two years, its total provisions on its oil and gas portfolio won't exceed S$200 million.
CEO Piyush Gupta told an earnings briefing the bank does not expect additional specific provisions on its oil and gas portfolio this year.
He said specific provisions could rise in China and Hong Kong.