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Analyst briefings come and go, particularly ones about digital strategy. It was quite something, then, when a DBS Digital Investor Day in November triggered a raft of glowing analyst reports and a 4% jump in the share price.
Some sample analyst notes demonstrate:
Citi: “DBS in our view presented one of the most comprehensive digital strategies of any bank in the world, let alone Asia”;
CIMB: “On stage, CEO Piyush and CFO [Chng] Sok Hui were Jeff Bezos-esque”;
Credit Suisse calls the bank its top pick and says it could deliver 121% return over the next five years;
All three rate it buy, or some equivalent.
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David Gledhill, DBS |
So what brought this on? It’s nothing new that Gupta and his senior disruption lieutenants David Gledhill and Neal Cross are evangelical about digital disruption. Gupta is a mighty fine presenter, saying things such as “the best way to fight disruption is to pre-empt it and disrupt ourselves”, but he has been saying that for several years now.