DBS CEO can still laugh his way to the bank
As 2019 draws to a close, it is timely to review the performance of the largest bank in Singapore – DBS Group. In a year which many analysts predicted to be a challenging year for DBS Group, the Singapore bank stunned many critics by posting a series of solid financial results. For nine months, net profit rose 13% to $4.88 billion. Total income grew 12% to S11.1 billion. Against this backdrop, DBS CEO can laugh all the way to the bank.
Piyush Gupta joined the bank in November 2009. In the blink of an eye, ten years had passed. Under the helm of the current DBS CEO, the Singapore bank has enjoyed a decade of tremendous growth.
Of course, there were challenges along the way, such as the European debt crisis (2011-2012), the oil slump (2014-2016) and the unfolding trade war between USA and China. Somehow, the DBS CEO managed to steer the bank to safe harbor and grew the bank to an even bigger scale than what it was ten years ago. Very impressive indeed.
According to SGX filing, DBS CEO Piyush Gupta held 1.84 million of DBS shares as at 25 February 2019. Most of the shares were …