DBS Group, Southeast Asia's largest bank by assets, has sought to reassure investors and staff on the bank’s asset quality. There has been “no drastic spike in soured loans” despite a slowing economy in the region, DBS chief executive officer Piyush Gupta said in a media briefing Wednesday.
Concerns over the health of the Singapore's biggest lender have increased over the past week after the bank announced it might write down half of its S$700 million exposure to Swiber, a Singapore-listed oil-and-gas explorer that filed for liquidation in the High Court of Singapore. DBS is one of the 10 principal banks of Swiber.
DBS...
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