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Top related persons:
Piyush Gupta - 1 Gupta - 1 Yantoultra Ngui - 1 Fanny Potkin - 1 Scott Murdoch - 1 Edwina Gibbs - 1
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SINGAPORE India China Singapore Shenzhen Asia's Asia East
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DBS - 1 Shenzhen Rural Commercial Bank - 1 UBS Group's - 1 Credit Suisse - 1 Thomson - 1

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2 mentions found


☆ DBS chief says China pessimism not 'overdone' but upbeat about India prospects
  + stars: | 2023-09-14 | by ( Yantoultra Ngui Fanny Potkin | Yantoultra Ngui | Fanny Potkin | ) www.reuters.com   time to read: +2 min
SINGAPORE, Sept 14 (Reuters) - DBS Group (DBSM.SI) Chief Executive Piyush Gupta said current widespread pessimism about China's economy was not "overdone" but he was upbeat about India, where the bank plans to triple its business in the next five years. "There's some real headwinds in China in the short-term", he told a Reuters Newsmaker event in Singapore, noting the crisis in its debt-ridden property sector. DBS, Southeast Asia's largest bank by assets, aims to triple its business in India in the next five years, Gupta also said. The bank has been in India for nearly 30 years and operates about 530 branches in 19 Indian states, according to its website. Singapore has seen strong inflows from wealthy customers amid global uncertainty, including U.S.-China geopolitical tensions, due to the city-state's status as a financial safe-haven.
Persons: Piyush Gupta, Gupta, Yantoultra Ngui, Fanny Potkin, Scott Murdoch, Edwina Gibbs Organizations: DBS, Reuters, Shenzhen Rural Commercial Bank, UBS Group's, Credit Suisse, Thomson Locations: SINGAPORE, India, China, Singapore, Shenzhen, Asia's, Asia, East, U.S
☆ Piyush Gupta might be banking’s boldest boss
  + stars: | 2022-11-15 | by ( Una Galani | ) www.reuters.com   time to read: +7 min
Piyush Gupta of $65 billion Singaporean lender DBS Group (DBSM.SI) appears to be that CEO, whether he thinks of himself that way or not. Yet the two banks trade on a similar multiple of 1.5 times their estimated 2022 book value, according to Refinitiv. There is limited room for growth in DBS’ tiny home market, a city with a population of 5.5 million people. That, plus the pressure to maintain that 1.5-times-book market value, means Gupta needs to keep finding ways to grow. U.S. President Joe Biden and Chinese President Xi Jinping held talks on Nov. 14 while at the G20 summit in Indonesia.
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