DBS chief positive despite increasing headwinds

Piyush Gupta, DBS chief executive, is positive about the bank’s prospects for 2014, despite the gathering economic headwinds, ranging from Singapore's frothy property market to slowing growth in China. 

Gupta, an ex-Citi banker who has helmed the bank for over three years, is behind its push to increase non-interest income as banks in Singapore struggle with low rates and weak growth at home.

DBS’s total income grew 11% year-on-year to S$8.9 billion US$7 billion in 2013, due to higher loan volumes and non-interest income, including fees from private wealth and cash management. The bank's net profit before one-time items rose 4% to S$3.5 billion...