Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
Associate PartnerAssociate Partner
  
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

India, Indonesia Key Areas of Focus for DBS in 2017

India and Indonesia will be the Development Bank of Singapore's "big" areas of focus for this year, its chief executive officer Piyush Gupta has said.

Press Trust Of India

Updated:January 2, 2017, 10:52 AM IST
facebookTwitterskypewhatsapp
India, Indonesia Key Areas of Focus for DBS in 2017
The logo of DBS is pictured outside an office in Singapore. (Image: Reuters)

Singapore: India and Indonesia will be the Development Bank of Singapore's "big" areas of focus for this year, its chief executive officer Piyush Gupta has said.

"We also remain focused on building leading regional cash management, foreign exchange, debt markets and wealth management franchises," Gupta said.

"So India and Indonesia will be our big areas of focus in 2017," Gupta was quoted as saying by The Strait Times.

DBS leads foreign banks with expansion plans in India.

DBS' wealth management business has quadrupled over the past six years and now accounts for to 13 to 14 percent of group revenue.

"Over the next five years, we think it could get up to 20 percent," he said in a report on Singapore banks' prospects during this year.

"The world will have to grapple with massive consequences behind technological disruption on jobs displacement, both blue-collar and white-collar workers. My own bet is that you will find a lot more entrepreneurship, or what people call the gig economy," he said.

"It is likely that there will be a new wave of redistributive economics. Governments may prove inadequate to do this entirely under their own steam, and the private sector will have to play a meaningful role," said Gupta.

DBS's top priorities for this year is to be prepared for volatility as markets will continue to be choppy.

An increase in US dollar rates could also create a negative impact, he added.

"Step up the pace of transformation of the bank that is re-imagine banking, and be a 22,000-person start-up," stressed Gupta.

"The third priority is to continue our steady business expansion," he said.

But he also cautioned that uncertainties over US President-elect Donald Trump's policies will be a headache for Asian strategies and could result in heightened market volatility in the short-term. At the same time, global growth is expected to remain subdued, said Gupta.

"To navigate these uncertain times, we need to remain watchful and vigilant, as well as disciplined about costs and the risks we take," he advises.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: Puja Menon
Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Infosys 650.60 1.10
Yes Bank 51.20 -1.16
RBL Bank 259.15 -9.69
Reliance 1,392.40 -1.54
Axis Bank 714.85 0.29
Company Price Change %Gain
Infosys 650.75 1.16
Yes Bank 51.25 -1.06
IRCTC 900.40 6.52
RBL Bank 259.25 -9.64
Indiabulls Hsg 206.20 -5.50
Top Gainers
Company Price Change %Gain
HCL Tech 1,095.15 2.88
Eicher Motors 20,521.20 2.71
Maruti Suzuki 7,440.25 2.54
SBI 275.45 1.83
Titan Company 1,348.65 1.44
Company Price Change %Gain
HCL Tech 1,095.65 2.93
Maruti Suzuki 7,439.50 2.55
SBI 275.50 1.87
HDFC 2,144.50 1.35
Bajaj Auto 3,161.35 1.22
Top Losers
Company Price Change %Gain
Adani Ports 396.10 -5.86
Bharti Airtel 360.35 -3.68
Zee Entertain 242.10 -3.33
Vedanta 146.25 -1.94
Grasim 743.15 -1.71
Company Price Change %Gain
Bharti Airtel 360.75 -3.59
Vedanta 146.10 -1.95
ONGC 141.95 -1.53
Reliance 1,392.85 -1.51
Kotak Mahindra 1,607.50 -1.31

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results