DBS takes fast lane to used-car loans, doubling its market share

Singapore

IN JUST a year, DBS has doubled its used-car loan market share as it muscled into a space traditionally dominated by lenders like Hong Leong Finance and Maybank.

The bank grabbed a chance to push into this segment on the back of regulatory changes, and plans to rev up growth in used-car loans by 20 per cent, Nelson Neo, head of new business for DBS' deposits and secured lending division, told The Business Times.