Exposure to Credit Suisse Insignificant: DBS, OCBC
The Edge Singapore2023-03-16
Local banks stocks dipped on March 16 as fears of exposure to Credit Suisse and a series of US bank failures spread to Singapore.
In response to queries, a DBS spokesperson says the bank’s exposure to Credit Suisse is “insignificant”, as did OCBC’s head of group brand and communications Kok Ching Ching of its own exposure to Switzerland’s second largest bank.
UOB has not responded for comment.
On March 16, DBS shares closed 1.27% down at $32.55, while OCBC dipped 0.98% to $12.15 and UOB slid 0.71% to $28.00.
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