DBS Group has a tightly managed exposure to India’s Adani group of companies, the chief executive of Southeast Asia’s largest bank said on Monday.
DBS was among a group of banks which provided finance to Adani’s $10.5 billion acquisition of Holcim’s cement business in India last year. The Singapore bank provided financing of about S$1 billion ($751 million).
“They’re solid, cash-generating companies, so we’re not concerned about the exposure,” Chief Executive Piyush Gupta told reporters after DBS reported quarterly results.
The cement industry has huge potential, given the growth in the market, Gupta said, “and so that exposure is quite tightly managed.”
