DBS sees non-performing assets picking up in 2021; Q3 profit exceeds expectations
Hit by lower net interest income, net profit falls 20% to S$1.3 billion, above market estimates of S$1.17 billion
Add BT as a preferred source
Singapore
DBS chief executive Piyush Gupta said that the bank is seeing "some episodic corporate stress" in its portfolio, with non-performing asset (NPA) formation to pick up as government relief moratoriums expire in 2021.
In its third quarter results briefing, he told the media that there seems to be "no pattern" to the rise in new corporate NPAs in the third quarter, with no specific country or industry dominating.
TRENDING NOW
Lamborghini-driving boss of Eminent Frog Porridge charged with S$3.8 million tax evasion, money laundering
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Palm oil stocks set to surge as Indonesia said to be scaling back export overhaul: analysts
Soon Su Lin to step down as Frasers Property Singapore CEO; Tan Wee Hsien named successor
