This led its Hong Kong operations to record a 15% q-o-q decline in earnings to $334 million from $385 million.
SINGAPORE (Nov 11): While DBS Group Holdings CEO Piyush Gupta is confident of the bank’s prospects in Hong Kong, the political turmoil there has prompted the bank to take a prudent approach for its operations in the territory.
In particular, the bank more than doubled its allowances to $59 million in 3Q19 ended Sept 30 from $28 million in the same quarter last year.
