Fitch revises DBS view to stable

Fitch Ratings said it changed its outlook on DBS Group Holdings Ltd.'s and DBS Bank Ltd.'s to stable from negative.

“The revision of the outlook to stable reflects Fitch's view of improved business and financial prospects, easing pressure on the group's operating environment and financial profile core metrics. Effective policy measures and a consequent economic recovery, both in Singapore and the group's key overseas markets, led us to project a milder peak in impaired loans than initially expected. The bank's prudent credit provisioning in 2020 also contributes to upside potential on earnings, underpinning our revision of the outlooks on asset quality, profitability and capitalization to stable, from negative,” Fitch said in a press release.

The agency also affirmed companies’ AA- issuer ratings.

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