DBS is leveraged for growth in Greater China and Southeast Asia.
Narrow-moat DBS Group took a conservative stance in its third-quarter fiscal 2017 result by recognising its oil and gas nonperforming assets early. This was matched with a higher level of specific allowance, and as such, net profit was lower at SGD 802 million, versus SGD 1.13 billion last quarter and SGD 1.07 billion in the year-ago period.While the bank is trading slightly lower today, we believe the early recognition of nonperforming assets is a prudent approach by management and overshadows...
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