Piyush Gupta: DBS CEO sells bank shares worth SGD 2.67 million

DBS CEO Piyush Gupta added SGD 2.67 million to his wealth after promoting 75,000 shares of the corporate. Each share fetched a value of SGD 35.74, reviews mentioned, quoting a current submitting on the Singapore Exchange.

Before this, the DBS CEO’s holdings included 2,790,053 odd voting shares. It has decreased to 2,715,053 shares, which is equal to 0.095 p.c of DBS’ odd shares.

The transaction was made on May 3, only a day after DBS Group introduced an increase in its web revenue within the first quarter of 2024.

“DBS Group’s web revenue for first-quarter 2024 rose 15% from a yr in the past to a file SGD 2.96 billion whereas return on fairness reached 19.4%. Total revenue grew 13% to a brand new excessive of SGD 5.56 billion as web curiosity margin was secure at 2.14%, price revenue crossed SGD 1 billion for the primary time and treasury buyer gross sales reached a file,” a news release from DBS learn.

Meanwhile, this isn’t the primary time that Gupta has bought his DBS shares. In August final yr, the senior banker bought 100,000 of his shares within the bank, incomes round SGD 3.4 million, as per reports.