Staff at Singapore banks reap big windfall as company stocks shoot up
Sign up now: Get ST's newsletters delivered to your inbox
Unlike buying shares through the stock market, participating in an ESPP allows eligible employees to contribute a fixed sum from their monthly salary over a predetermined period.
ST ILLUSTRATION: MANNY FRANCISCO
- Employee share purchase plans (ESPPs) at Singapore banks like OCBC, DBS, and UOB have turned disciplined monthly savings into significant wealth for employees as bank stocks hit record highs.
- ESPPs offer employees discounted shares, forced savings, and matching contributions, encouraging long-term investment and loyalty, with many participants benefiting from dividends and capital gains over years.
- While past performance is strong, employees should understand plan details, risks, and conditions, as economic shifts could affect share prices and overall returns.
AI generated
SINGAPORE – “Yes, I am in heaven – seventh heaven!” Maggie Liu says with a laugh as the shares of OCBC climbed to record highs.
