February 14, 2014 / 3:56 AM / 4 years ago

Singapore DBS expects 8-10 pct loan growth in 2014

SINGAPORE, Feb 14 (Reuters) - DBS Group Holdings Ltd , Southeast Asia’s biggest lender, expects loans to expand at a pace of 8 to 10 percent in 2014, slowing from an 18 percent growth rate in 2013, its CFO Chng Sok Hui said at an earnings briefing on Friday.

DBS Group posted a 6 percent increase in core quarterly profit, missing expectations as it took higher provisions for bad-debt charges.

Rival Oversea-Chinese Banking Corp Ltd said it expects loan growth to be in the percentage of “low teens” in 2014 after loans expanded at an 18 percent pace last year.

Reporting by Saeed Azhar and Anshuman Daga; Editing by Matt Driskill

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below