SINGAPORE: DBS Group Holdings Ltd has unveiled a multi-billion-dollar share-buyback programme, as wealth management fees and markets trading income drove third-quarter profit.
South-East Asia’s biggest lender said the S$3bil (US$2.25bil) buyback is underpinned by a strong capital position and earnings generation. This followed a series of record earnings and above-peer returns to investors in recent years under the tenure of chief executive officer Piyush Gupta, who will retire in March. His successor Tan Su Shan said she would continue the approach of returning capital.
