SINGAPORE – DBS Group Holdings chief executive Piyush Gupta has sold 100,000 shares in the bank, netting him around $3.4 million, according to documents filed with the Singapore Exchange on Tuesday.
Mr Gupta sold 8,100 shares at $34.32 each and 91,900 shares at $34.2553 each in two separate open-market transactions on Friday.
Together, the shares sold accounted for 4.4 per cent of his DBS holdings.
He still owns 0.085 per cent, or 2,185,721, of the ordinary shares in DBS, under a trust arrangement.
Mr Gupta sold his shares a day after DBS trounced forecasts to announce a record $2.69 billion in net profit for the second quarter of 2023.
This was up 48 per cent from a year ago, driven by a jump in net interest margin, Mr Gupta told reporters during DBS’ results briefing on Thursday.
Growth was also supported by higher fee income at the bank’s commercial, wealth-management and cards businesses.
