DBS CEO gets S$9.2m pay in FY2013

SINGAPORE - Southeast Asia’s largest bank DBS Group Holdings paid its CEO Piyush Gupta a total remuneration of S$9.2 million in financial year 2013.

This was a drop of 1 per cent when compared with the previous financial year.

According to the bank’s latest annual report, Mr Gupta was awarded a S$3.43 million cash bonus, and company stock valued at S$4.53 million as part of the total compensation.

His base salary totalled S$1.2 million.

Mr Gupta had other non-cash perks including country club membership, car and driver valued at about S$55,000.

DBS said Mr Gupta’s total remuneration is based on a “balanced scorecard approach”.

The lender booked a net profit of S$3.67 billion last year, compared with S$3.81 billion in 2012.

Meanwhile, DBS chairman Peter Seah was paid a total remuneration of S$1.84 million in 2013.

In comparison, OCBC chairman Cheong Choong Kong was paid S$2.58 million in 2012.

Meanwhile, UOB chairman Wee Cho Yaw was paid between S$2.75 million and S$3 million over the same period.

Channel NewsAsia