DBS Group Holdings Ltd . Chief Executive Officer Piyush Gupta , seeking to lift a stock that’s trailed the bank’s main rivals in 2010, said he’s given himself three years to boost return on equity to above 12 percent.
DBS Group Holdings Ltd. Chief Executive Officer Piyush Gupta, pulling his $6.5 billion bid for PT Bank Danamon Indonesia, said his ambitions in Southeast Asia’s largest economy may be set back by about five years.
DBS Group Holdings Ltd. and Oversea-Chinese Banking Corp., Southeast Asia’s largest banks, climbed in Singapore stock trading after they posted higher earnings as loan margins widened for the first time since 2009.
DBS Group Holdings Ltd. said its it’s paying “fair value” for its $7.2 billion bid for PT Bank Danamon Indonesia even as the biggest takeover by a Southeast Asian lender dilutes earnings for the first two years.