DBS Group, Southeast Asia’s largest bank, has a well-monitored exposure to India’s Adani group of companies, according to the bank’s CEO. He emphasized that the bank has a deliberate and controlled exposure to the Adani group, ensuring that the bank’s involvement with the company is managed in a responsible and cautious manner.
The CEO of DBS Group, Southeast Asia’s largest bank, stated on Monday that the bank has a well-controlled exposure to the Adani group of companies in India. DBS was part of a consortium of banks that offered financing for Adani’s acquisition of Holcim’s cement business, which was valued at $10.5 billion, in India last year. The bank extended financing worth approximately S$1 billion ($751 million) for this acquisition.
The CEO of DBS Group, Piyush Gupta, stated on Monday that the bank has a well-controlled exposure to India’s Adani group of companies. Despite this exposure, he emphasized that the bank is not concerned about it as the Adani companies are solid and generate a significant amount of cash. He made this statement after the bank reported its quarterly results.
Piyush Gupta, the CEO of DBS Group, emphasized that the bank’s exposure to the Adani group of companies in India is tightly managed. He stated that the group of companies, which includes the newly acquired Holcim’s cement business, are solid and generate significant cash, causing no concern for the bank. Gupta also mentioned that the potential for growth in the cement industry is immense, which is why the exposure is being managed so closely.
In response to these allegations, Gupta emphasized that DBS has a rigorous due diligence process in place and that their exposure to the Adani Group has been thoroughly scrutinized. He added that the bank is confident in its investment and has no concerns about the exposure to the group, given that they are solid cash-generating companies. Despite the accusations made by Hindenburg Research, DBS remains confident in its investment and sees great potential in the cement industry in India due to the growth in the market.
Despite the recent allegations and drop in the value of Adani’s listed companies, DBS Group CEO Piyush Gupta remains confident in their solid, cash-generating businesses. He sees great potential in the cement industry and ensures that their exposure to the Adani group is tightly managed.