Bloomberg News

DBS’s Gupta Sees China Being 10%-15% Profit in ‘Over a Decade’

September 13, 2011

Sept. 13 (Bloomberg) -- DBS Group Holdings Ltd. Chief Executive Officer Piyush Gupta said he expects China to account for 10 percent to 15 percent of the group’s total profit in “over a decade.”

China currently accounts for as much as 5 percent of total profit. Gupta spoke today at a briefing in Beijing.

DBS is also active in the offshore yuan market in both Hong Kong and Singapore, including in deposits, trade settlement, bond issuance and structured products, Gupta said. DBS has a 20 percent share of the offshore yuan interbank foreign exchange market, Chairman Peter Seah said at the same briefing in the Chinese capital.

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