DBS’s Gupta “hopeful” about Danamon deal

Singapore’s biggest lender is enmeshed in political brinkmanship as it fights to win Bank Danamon.
Piyush Gupta
Piyush Gupta

Piyush Gupta, DBS chief executive officer, is sharp, speaks fast and since he took over the reins three years ago, has wasted no time in reshaping the bank’s franchise.

But now Gupta is engaged in a high-stakes poker game as he seeks to buy Bank Danamon, Indonesia’s sixth-largest lender by assets. The prize turbo-charged growth.

Gupta is ebullient about the opportunities the deal can bring to DBS. “I’m a big believer in Indonesia,” said Gupta in an interview with FinanceAsia in Singapore. “What an inorganic deal like Danamon allows us to do is accelerate the process of growth.”

DBS is the biggest...

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