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