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MAS Reportedly Questions Banks on Exposure to EVERGRANDE

AAStocks ·  2021/09/29 23:22

Monetary Authority of Singapore (MAS), as part of the standard regulation, questioned the three major Singaporean banks last week -- DBS Group, OCBC Bank and United Overseas Bank, on their exposures to the EVERGRANDE (03333.HK) crisis, reported Bloomberg News, citing sources.

DBS Group's spokesman expressed that the bank has no exposure to EVERGRANDE, while the group's CEO, Piyush Gupta, previously stated that he does not think that the Chinese homebuilder's crisis would constitute systematic risks to the regional banking sector.

United Overseas Bank's spokesman likewise responded that it does not have any exposure to EVERGRANDE, while OCBC Bank's spokesman said that the bank is unable to comment on specific loan, though the bank is reported to also have no exposure to EVERGRANDE.

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