Singapore banks show voracious appetite in buying back shares
Since start of March, UOB has spent S$16.2m on share buybacks and OCBC, S$19.2m; DBS leads tally with S$368m
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Singapore
SHARE buybacks by Singapore banks surged this month amid the market turmoil, as the valuations of their shares have hit levels below their book value in recent days.
DBS leads the tally across all Singapore-listed stocks in share buybacks with a whopping S$368 million spent on share buybacks since the start of March, well exceeding the bank's total of S$103 million for all of 2019, data requested from the Singapore Exchange showed.
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