For DBS, it’s 2009 once more: Bloomberg Gadfly

SINGAPORE (Aug 8): In fretting over DBS Group's nonperforming loans, investors may be ignoring a slipperier banana peel: contingent liabilities.

When Gadfly flagged the risk in May, the difference between "nonperforming assets" and "nonperforming loans" for Singapore's largest bank had more than quadrupled to $355 million ($257 million) in one year. That was worrying enough. But with Monday's earnings report showing a further 67% jump in the NPA-NPL gap between March and June, the situation is now worse than it was during the 2009 crisis:

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