DBS CEO Gupta not eyeing StanChart top spot

Says he’s “happy” to stay at DBS.

DBS CEO Piyush Gupta said he is not entertaining any offers about leaving his current post, after recent market talk that he is one of the candidates eyed to become Standard Chartered’s next chief executive CEO.

A report by OCBC stated that Gupta, speaking after DBS posted below-consensus results in Q4, is “happy” to stay in his current spot.

DBS’ management remained fairly upbeat as they guided for loans growth of 8% for 2015. Management also believes that its business is fairly well-cushioned and this will help to negate any unfavorable economic or market downside.

“Giving further insight into its exposures to the slowing energy and commodity sector, management shared that it has S$30b exposure to the commodity sector, of which S$25b are LCs (letter of credit). It reiterated its stand to invest in digital banking, and this is an apt move to capture the current change in consumer transactional patterns,” noted OCBC.

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