DBS Says Coronavirus Could Cut 2% From Revenue This Year
- Unveils loan relief for some small businesses, home owners
- Implementing containment plans after worker was infected
DBS Bank headquarters in Singapore.
Photographer: Ore Huiying/BloombergThis article is for subscribers only.
DBS Group Holdings Ltd. expects the coronavirus to hurt revenue slightly this year as it unveiled steps to alleviate the impact of the outbreak on small businesses and home owners.
Assuming it’s controlled by the summer, the virus will impact revenue by around 1%-2%, Chief Executive Officer Piyush Gupta said in a presentation Thursday after Singapore’s biggest bank posted higher fourth-quarter profit. Shares of DBS opened higher on optimism that the bank will withstand the effects.