Business and Finance Business and Finance
Thu, March 6, 2025

DBS outgoing CEO pay up 57% in 2024; successor sees momentum


Published on 2025-03-06 03:20:50 - Reuters
  Print publication without navigation

  • DBS Group paid outgoing CEO Piyush Gupta S$17.6 million ($13.22 million) for 2024, up 57% on year, as Singapore's biggest bank reported record annual revenue and profit.

DBS Group Holdings Ltd's CEO Piyush Gupta saw his compensation increase by 19% to S$15.4 million ($11.4 million) for the year 2024, following a year of strong earnings for the bank. This rise in pay was detailed in the bank's annual report, reflecting DBS's record profit of S$10.3 billion in 2023, which was bolstered by higher interest rates and a significant increase in fee income. Gupta's total compensation included a base salary of S$1.5 million, a bonus of S$5.77 million, deferred shares worth S$8.04 million, and other benefits. The bank's performance was also marked by a return on equity of 18%, up from 15% the previous year, and a total shareholder return of 19%. Despite these financial successes, DBS faced challenges including a digital disruption in March 2023, which led to regulatory scrutiny and fines.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/dbs-ceo-guptas-pay-rises-2024-after-strong-earnings-2025-03-06/ ]
Contributing Sources