DBS says China trade-related loans down $7 billion quarter-on-quarter

SINGAPORE (Reuters) - DBS Group Holdings's first-quarter China trade-related loans were down $7 billion quarter-on-quarter on lower commodity prices and the convergence of onshore and offshore interest rates, CEO Piyush Gupta said.

His comments came at an earnings briefing after the bank posted a 10 per cent rise in core first-quarter net profit, above analysts' estimates, helped by a double-digit rise in loan growth and strong wealth management fees.

Join ST's Telegram channel and get the latest breaking news delivered to you.