DBS Chief Gupta Defends Decision to Extend Lifeline to Swiber

  • Oil-services company “imploded” in six weeks, DBS CEO says
  • Gupta says he personally checked on Swiber’s financial health

DBS Group Holdings Ltd.’s top executive defended his bank’s decision to throw Swiber Holdings Ltd. a S$197 million ($146 million) lifeline, indicating the lender was caught off guard by the speed at which the energy-services company collapsed in recent weeks.

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