Piyush Gupta, chief executive of Singapore’s largest lender DBS, said fears of a looming debt crisis in China are “overdone” at the bank's results briefing on Friday.
His comments come amid increasing investor concerns about China’s rising corporate leverage and bad debts within its banking system.
Meanwhile, reports of fraudulent loans in Qingdao port have fanned fears among banks with exposure to collateral financing in China. Banks including HSBC, Standard Chartered and ABN Amro have exposure to the Qingdao financing.
According to Gupta, DBS has “zero exposure” to Qingdao Port and no exposure to collateral financing in China. And, while the...
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