A Singaporean founder's viral LinkedIn post celebrating a chance meeting with 'Piyush Gupta' in Bali took a hilarious turn when the real ex-DBS CEO commented. The mistaken identity left social media in stitches.
Piyush Gupta received a cash bonus of about S$5.8 million ($4.3 million) and a salary remuneration of S$1.5 million that contributed to an overall compensation of S$15.4 million for 2022, according to the bank’s annual report released on Thursday.
The 12-odd states located in the eastern region were lagging in terms of mutual fund (MF) investments as compared to other parts of the country, a SEBI official said.
DBS' wealth management business has quadrupled over the past six years, and now accounts for to 13 to 14 percent of group revenue.
The app, which has seen 1.35 lakh downloads already, aims to reach the three lakh mark by the end of the year.
"As you go forward, the rest of the banking system is still likely to be capital-constrained for some more time and that should provide us competitive edge in the short-term to build a business," DBS Group Chief Executive Piyush Gupta told PTI.
Speaking with CNBC-TV18‘s Kritika Saxena, Piyush Gupta, CEO, DBS said that depending on regulatory approvals the company will subsidiarize and the main focus will be on small and medium enterprise (SME) along with the retail market.
The phase by phase soft launch will be spread across DBS's locations in 12 Indian cities, including Mumbai, Delhi, Kolkata, Chennai, Bangalore and Pune, from end of next month.
"There may be some short-term turbulence as short-term hot money leaves the region, but over the course of the year I think [emerging markets] will do fine," Gupta told CNBC on Friday.
"When there is a degree of confidence particularly in the US and in the large US investor community, that confidence actually spills over favorably to the rest of the world as opposed to unfavorably," Piyush Gupta, chief executive of DBS Group.
The bank does not see any stress in its China trade finance portfolio, but that there is some pressure in the India mid-cap segment
Singapore's DBS Bank chief executive officer Piyush Gupta on Friday said, "The opportunity of the Indian market is undeniably backed by the massive consuming middle class, a strong entrepreneur class and businessmen, companies and corporations which are increasingly scaling up to be world-class."
After two years of hard work to improve Singapore's largest bank and lift its underperforming Hong Kong unit, DBS Group chief executive Piyush Gupta is embarking on his biggest challenge yet - a bid for Indonesia's Bank Danamon .
With Indian stocks dropping to a 2-year low on Thursday, analysts say the country - which was relatively sheltered during the last financial crisis in 2008 - is looking especially vulnerable this time around.
DBS, which has underformed rivals in the past, promised better returns after beating expectations with a 38% rise in quarterly profit, setting the stage for a turnaround for Southeast Asia's biggest bank.