DBS CEO says Swiber charge a "one-off"

Singapore lender moves to reassure investors ahead of its second-quarter results on Monday after saying it could write down half its exposure to the oil and gas group.

DBS Group, Southeast Asia's largest bank by assets, has sought to reassure investors and staff on the bank’s asset quality. There has been “no drastic spike in soured loans” despite a slowing economy in the region, DBS chief executive officer Piyush Gupta said in a media briefing Wednesday.

Concerns over the health of the Singapore's biggest lender have increased over the past week after the bank announced it might write down half of its S$700 million exposure to Swiber, a Singapore-listed oil-and-gas explorer that filed for liquidation in the High Court of Singapore. DBS is one of the 10 principal banks of Swiber.

DBS...

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