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Aberdeen Standard upbeat on Singapore banks, warns on DBS provisions

Reuters  |  SINGAPORE 

By Anshuman Daga and Jack KimSINGAPORE (Reuters) - Aberdeen Standard Investments said it likes Singapore banks due to their strong balance sheets and quest for new growth drivers but warned that the management of top lender DBS risks losing credibility if it takes any more big provisions for oil and gas loans.Last week, DBS, Southeast Asia's biggest bank, reported an unexpected slide in its quarterly profit, which fell 23 percent as the bank nearly doubled provisions for loans to the oil and gas sector.During its results news conference, DBS CEO Piyush Gupta said the bank had taken the ...

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First Published: Tue, November 14 2017. 17:52 IST
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