The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.
BANKING

DBS’s Gupta pans banks’ dividend cuts, sees Covid-19 as threat to all

Piyush Gupta, head of Singapore’s DBS Bank, tells Euromoney that scrapping dividends now is a mistake, discusses the mental stress of working from home, and says a multi-year recovery will hit banks hard and lead to mergers and job losses.

Piyush Gupta 780



When Euromoney catches up with Piyush Gupta, he is keen to discuss the second great financial challenge of the 21st century through both a wide and a narrow lens.

Before we speak, the chief executive of Singapore’s DBS Bank asks his media team to email a file detailing all of its Covid-19 relief measures.

It’s almost, but not quite, as long as one of those iTunes user agreements. To pluck three at random, DBS is offering: 50 free electronic transfers a month to Singapore firms (up from 30); grace periods on personal loans to Chinese clients; and, in India, co-branded insurance products that pay out first and fast to coronavirus victims.

Its complexity and reach testify to the geographic and systemic nature of DBS – and to the parlous state of the banking sector as it grapples to contain the fallout from coronavirus. Twelve years on from the global financial crisis, most banks are highly capitalized and think hard about how their actions affect themselves, their clients and society. They have mental bandwidth – DBS is no exception.

Gupta starts small and circles up.




You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree