SINGAPORE (Reuters) - DBS Group Holdings, Singapore's biggest bank, took some charges on the commodity sector in China in its fourth quarter results, but sees no big downside, its chief executive officer said on Tuesday (Feb 10).
"We saw some one-offs in our China book related to the commodity complex," Piyush Gupta told a news conference, adding that the bank had also seen some one-offs in Indonesia.
"On the portfolio as a whole, in consumer, SME (small and medium enterprise), corporate, in terms of delinquencies, in terms of general stress, we are not seeing anything there. It continues to be relatively solid and strong," said Mr Gupta.
DBS has total commodities exposure of $30 billion, with the bulk of it in trade finance, he added.
The bank reported a 4.5 per cent rise in core fourth-quarter net profit but fell short of analysts' estimates on a jump in provisions for non-performing loans in China and Singapore.