With forbearance loans - which are not part of the special allowances - down to low levels, there could be more clarity on credit costs. However, banks tend to set aside more gross provisioning depending on their macro economic variable (MEV) models. With government support for jobs and businesses, and with the vaccine giving rise to herd immunity, an economic rebound would cause banks to set aside lower general provisions. Already, Piyush Gupta, CEO of DBS Group Holdings has said his bank's credit costs have likely peaked and could amount to just $1 billion over the next 12-18 months compared to the $3.07 billion taken in FY2020. This alone would boost net profits by $2 billion. DBS announced a net profit of $4.72 billion in FY2020, down 26% y-o-y.