You are here

BT EXCLUSIVE

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

Bank pic.jpg
The rise in share buybacks comes as Singapore banks' shares have been mauled given the virus outbreak, sliding by about 25 per cent to close to 30 per cent since the start of the year.

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...