The group chief of DBS received a salary bump in a challenging 2022 that saw the Singapore lender register record income.
DBS granted CEO Piyush Gupta a total remuneration of S$15.38 million ($11.36 million) in 2022, according to the bank’s annual report, up around 13 percent from S$13.58 million in 2021.
The amount in 2022 includes S$1.5 million in salary remuneration, S$5.76 million in cash bonus, S$8.03 million in deferred remuneration and S$80,529 in other non-cash components.
Gupta received a pay rise in a challenging 2022 that saw DBS post a 20 percent increase in net profit to S$8.2 billion with a record income of S$16.5 billion and a record return on equity of 15 percent.
Management Remuneration
In total, DBS distributed a total of S$90.4 million to its all senior managers in remuneration. When excluding Gupta’s pay, the median increase for senior management remuneration was 10.7 percent in 2022.
The bank also granted an aggregate of 5,036,154 ordinary shares to selected employees of the group. Certain non-executive directors received an aggregate of 32,672 shares which were vested immediately upon being granted.
