DBS’ Tan Su Shan flags second-order risks from Middle East conflict despite limited exposure
Automotives, shipping and small businesses in focus as the lender tracks knock-on effects from prolonged tensions
Add BT as a preferred source
[SINGAPORE] DBS has “very limited” direct exposure to the Middle East, but a prolonged conflict that keeps oil prices at or above US$100 per barrel could trigger broader second-order risks, chief executive officer Tan Su Shan said on Tuesday (Mar 31).
“We’ve done a lot of stress tests with our business heads; in terms of first order impact – very little, because our core market is Asia, (and) our exposure to the Middle East is very, very limited,” said Tan.
“Having said that, the second order impact – which is around inflation, around consumer slowdown, around supply chains – that can cause problems,” she added.
TRENDING NOW
DBS completes US$1 billion significant risk transfer deal, a first for Singapore bank
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Singapore private housing is ‘decoupling’ from HDB market as buyer pools diverge: NUS survey
Not in education, employment or training: Why more Hong Kong youths are opting out of work
