The bulk of DBS CEO Piyush Gupta’s 2024 pay package came from a deferred award of S$9.36 million, to be paid mostly in shares. — The Straits Times
SINGAPORE: Outgoing DBS chief executive Piyush Gupta received S$17.58mil in total pay last year, higher than what he took home in 2023, according to the bank’s annual report.
This comes as the bank achieved a record performance last year as full-year net profit rose 11% to S$11.4bil, with return on equity (ROE) at 18%.
“The bank’s stellar all-round performance, as well as its improved technology resiliency, resulted in a higher scorecard appraisal by the board compared with the previous year,” DBS said in the report released yesterday.
It said Gupta’s higher remuneration came about after factoring in the scorecard performance and a normalisation in compensation following a reduction taken in 2023 in response to senior management taking accountability for digital disruptions.
This saw Gupta’s pay in 2023 fall 27% to S$11.2mil.
Compared with 2022, his 2024 pay was up 14% from that year’s S$15.4mil. — The Straits Times/ANN
