Besides the differences in market cap, UOB and OCBC differ from DBS in another aspect: Despite what some might believe are lofty share prices, they are actively buying back their own shares.
All three local banks, buoyed by higher-for-longer rates, have reported record earnings, and to reflect this, their share prices are trading at or near record levels as well.
DBS Group Holdings leads the pack with its market cap of more than $100 billion while Oversea-Chinese Banking Corp (OCBC) and United Overseas Bank (SGX:U11
) (UOB) are significantly behind, with their market caps at $65 billion and $52 billion respectively.
