DBS Report

The bank also announced that its board had established a new share buyback programme of S$3 billion

In 2022, Gupta received a salary of SGD 15.4 million

Rajat Verma will be taking over from Niraj Mittal, who will take charge as the country head of DBS Bank in Australia

Lender's amalgamation with Lakshmi Vilas Bank expanded its reach in South India

DBS Group is bullish about business opportunities in India and has employed a phygital strategy, offering best-in-class digital capabilities to customers supported by a strong physical network

India's industrial production contracted sharply by 4.3 per cent Y-o-Y in September against the 2.5 per cent consensus. August's contraction was revised down to 1.4 per cent from 1.1 per cent.

Moody's decision to change the outlook to negative reflects increasing risks that economic growth will remain lower

The govet had last month announced a ten percentage point cut in corporate taxes, to get Indian levies at par with others, to spur investments.

Real GDP slowed to 5% year-on-year in 2Q (first quarter of FY20) from the first quarter's 5.8%, below DBS' sub-consensus and market expectations

The Reserve Bank's next policy review meet is scheduled to be held from August 5th to 7th

Overall, most banks showed a reduction in gross non-performing loans (NPLs) and lower formation of new NPLs