Even as global banks are grappling with various scandals, from fixing interest rates in London to money laundering in Mexico, regional banks such as DBS are weathering the crisis and proving to be resilient.
That is not to say they are unaffected by the market turmoil. At DBS, income from investment banking, stock broking and trading all fell during the second quarter. Its non-interest income for the quarter was the weakest for the past two years, which DBS’s chief executive officer Piyush Gupta attributed to the difficult market conditions and the “risk off” situation in Europe.
“We were on the Manchester United deal, we were...
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