“We will maintain a solid balance sheet with ample capital, liquidity and loss allowance reserves that give us strong buffers to absorb external shocks,” DBS CEO Piyush Gupta said in a statement on Thursday. DBS was the first bank in Singapore to report earnings for the quarter. “This was largely due to the spike in provisions, which is likely higher than what the market expects but in fact included a large portion of general provisions which shows the bank wants to buffer ahead,” said Kevin Kwek, a senior analyst at Stanford C. Bernstein. …read more
Source:: Yahoo Finance
