It has been a gut wrenching ride for investors as DBS bank share price went into a tailspin following the release of Q1FY2019 financial results on 29 April 2019. During the media briefing, CEO Piyush Gupta revealed that mortgage growth for FY2018 was under $2 billion, vis-à-vis growth of $4 billion in the year before FY2018.
The chilling revelation knocked the wind out of DBS bank share price. On 27 April 2019, DBS bank share price had hit a high of $28.40 but investors were spooked by the bank’s dismay housing loan performance. The data confirmed investors’ worst fear – that DBS’ loan portfolio will be hit by the 2018 property cooling measures.
Since that fateful day, DBS bank share price plummeted from $28.40 to a low of $24 on 3 June 2019. The mayhem prompted management to take action to arrest the plunging DBS bank share
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