DBS Says Likely Revenue Hit From Virus ‘Moving Target’
- Southeast Asia’s biggest lender says banks to see more NPLs
- Says now is the time to extend credit lines to small firms
Pedestrians walk past the DBS Group Holdings Ltd. logo displayed outside a bank branch in Singapore.
Photographer: Munshi Ahmed/Bloomberg
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DBS Group Holdings Ltd. signaled that its estimate for a 2% revenue hit from the coronavirus may be revised if the pandemic is unexpectedly prolonged.
“This is a moving target,” the bank’s head of institutional banking Tan Su Shan said when asked about the projection in a Bloomberg Television interview in Singapore on Thursday. “We are living day by day, week by week right now.”