Loans growth estimate cut to 6% this year

Singapore

DBS Group Holdings expects 6 per cent loans growth for 2015, said chief executive Piyush Gupta on Monday. That is down from the previous estimate of 8 per cent, he said at a press conference following the bank's Q1 results.

"We should grow the loan book, in constant-currency terms, 6 per cent for full year," said Mr Gupta.

At 6 per cent, it would be the slowest loan expansion since 2009. Mr Gupta was appointed DBS chief executive in November 2009. In 2009, a challenging ye…