10 Jul '18, 11am

Temasek: DBS will weather Singapore’s fresh property cooling measures https://t.co/DRYcavzE09

Banking group DBS wasn’t likely to face a significant earnings impact from fresh property cooling measures, Singapore wealth fund Temasek said on Tuesday. Singapore’s government last week implemented a fresh round of property cooling measures , targeting the additional buyer’s stamp duty (ABSD) and loan-to-value limits. That was expected to stem home-price rises and transaction volumes, with knock-on effects on banks, which may see declines in mortgage-loan demand . “DBS has built multiple engines for growth in the last few years both in Singapore as well as in the region. I think the mortgage market is only one of many different markets they’re in,” Png Chin Yee, head of financial services at Temasek, said on Tuesday at the fund’s earnings briefing. “We don’t expect it to have a significant long term impact on DBS’ profits,” she said. DBS, the largest bank in Southeast As...

Full article: https://shentonwire.net/2018/07/10/temasek-dbs-to-weather...

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