Singapore’s DBS warns of ‘second-order effects’ from Iran war
Finance
Bank logs higher Q1 profits, says clients exposed to rising costs
Singapore’s top bank, DBS Group Holdings, announced its quarterly results on April 30. © Reuters
SINGAPORE — Southeast Asia’s biggest bank, DBS Group Holdings, warned on Thursday that higher logistics and materials costs stemming from the Iran war could have a broad impact on businesses, adding that the lender has been stress-testing clients exposed to such risks.
