Singapore's DBS falls on fears property curb will hurt loans

[reporter2]

http://www.businesstimes.com.sg/sub/...68844,00.html?

December 8, 2011, 11.10 am (Singapore time)

Singapore's DBS falls on fears property curb will hurt loans


SINGAPORE - Shares of Sinapore's largest lender DBS Group Holdings fell as much 3.4 per cent on Thursday on fears that the city-state's latest measures to curb private home prices will hurt mortgage loans.

At 0227 GMT, shares of DBS were 3.2 per cent lower at S$12.36 with over 1.8 million shares changing hands, making it the second most actively traded stock on the Singapore exchange by value.

Singapore said on Wednesday foreigners who buy private homes will have to pay an additional stamp duty equal to 10 per cent of the property value.

'There are concerns that with fewer people buying houses, home buyers will take out less loans, and this means less mortgage sales for banks,' said a local dealer.

Shares of Singapore's other banks also fell, with United Overseas Bank down 1.4 per cent and Oversea-Chinese Banking Corp 0.97 per cent lower. -- REUTERS

[mygeemeel]

They are one of the premium in terms of mortagage loan. They charge very much higher than many other local and foreign banks.

[mcmlxxvi]

Not true. I always get very good rates from them... Guess it help if you been with them for a while and repeat customer...

[mygeemeel]

Not true. I always get very good rates from them... Guess it help if you been with them for a while and repeat customer...

OIC. Probably bcos i wasnt their customer.