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CEO change at DBS unfolding at an uncertain time

The less richly priced shares of DBS’ peers might offer better risk-adjusted returns

Ben Paul

Ben Paul

Published Mon, Aug 19, 2024 · 05:00 AM
    • DBS reported a surge in earnings to record levels in 2022 and 2023, partly driven by a 70 basis point expansion in NIMs.
    • DBS reported a surge in earnings to record levels in 2022 and 2023, partly driven by a 70 basis point expansion in NIMs. PHOTO: BLOOMBERG

    THE appointment of Piyush Gupta as chief executive of DBS in November 2009 marked the beginning of a golden age of sorts for the financial services group.

    Under his leadership, DBS expanded regionally, made big investments in technology and reported strong earnings.

    It probably did not hurt that Gupta took the helm of DBS at the tail end of the Global Financial Crisis; and is now set to retire just as a profitability-boosting surge in interest rates is coming to an end.

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