DBS CEO highest paid among local bank chiefs last year

March 31, 2016 | By | Reply More

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SINGAPORE: The chief executive officers (CEOs) of DBS and OCBC saw their total remuneration rise in 2015.

According to DBS Group’s latest annual report, CEO Piyush Gupta earned S$10.94 million last year, up from S$10.12 million in 2014. The higher pay comprised a base salary of S$1.2 million, S$4.12 million cash bonus, S$5.56 million in shares and S$55,439 in other non-cash payments.

DBS, Singapore’s and Southeast Asia’s largest banking group, said Mr Gupta’s remuneration took into account a “strong and sustained performance despite slower global growth and significant market volatility”.

It also said that net profit hit a record high of S$4.45 billion last year.

Oversea-Chinese Banking Corp (OCBC) said CEO Samuel Tsien earned S$10.49 million in 2015, up from S$9.89 million in 2014. 

Meanwhile, United Overseas Bank (UOB), said that deputy chairman and CEO Wee Ee Cheong’s remuneration was S$9.22 million last year, down from S$10.22  million in 2014 – as UOB profits saw a 1.2 per cent dip.

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