Singapore banks, among the most well-capitalised in the region, pledged in recent months to hand over billions of dollars in surplus capital to investors on the back of record-high earnings. Such action came in handy during global stock selloffs triggered by US President Donald Trump's tariff measures.
Singapore lenders are taking advantage of recent weakness in their share prices to purchase stock, making up the bulk of total corporate buybacks that are set to be the biggest in the city-state in four years.
The value of buybacks by DBS Group Holdings Ltd., Singapore's largest bank, account for nearly half of all the stock repurchases in Singapore from April 1 to April 23, followed by United Overseas Bank (SGX:U11
) Ltd. at 25% and Oversea-Chinese Banking Corp. at just over 8%, according to data compiled by Bloomberg.
