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DBS reports Q4 earnings, 2020 outlook as coronavirus spreads

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DBS Group Holdings in the central business district of Singapore.

Nicky Loh | Bloomberg | Getty Images

The ongoing spread of a new coronavirus disease, recently named COVID-19, could hit the revenue of Southeast Asia’s largest bank this year, its chief executive said on Thursday.

Piyush Gupta, the CEO of Singaporean bank DBS, said the impact on its full-year revenue is estimated to be 1% to 2%, assuming the virus outbreak is controlled by summer. Much of that impact will come from areas such as the bank’s credit card and wealth management businesses, said Gupta.

“It’s kind of hard to call how long this crisis will last and what the full scale and impact of this might be,” he told CNBC’s



Source cnbc.com

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