DBS (Development Bank of Singapore)

[thinknotleft]

While most companies have been buying back stock actively in the last month, the undisputed champion would have to be DBS.

4th Dec 2020: Owns 4,150,000 shares
23rd March 2020: Owns 25,550,000 shares
Shares bought back in 2020 = 25,550,000 - 4,150,000 = 21,400,000 shares. Assuming an average cost of $20 and we are looking at 428mil SGD spent!

I do believe the bank has faith that they surely wouldn't be asking for money "in a position of strength" in another few months down the road, as they did more than 10 years ago.

If DBS turns out ok no need to ask for money and its share price recover, DBS management should be praised for intelligent capital allocation in buying its shares at low prices

If DBS needs to ask for money in future, then DBS management will be blamed for spending close of half a billion in share buybacks. 

It is probably brave of DBS management to buy close to half a billion of their shares during this period. 

p.s. I have been slowly buying DBS shares this few weeks. Hence I am happy to see DBS buying back its shares.