DBS CEO Piyush Gupta's pay rose 15.5% to $8.62m after record-high earnings year

The CEO also saw a $3.31m cash bonus.

The remuneration of DBS Bank CEO Piyush Gupta grew 15.5% to $8.62m (S$11.86m) for 2018, the bank’s annual report revealed.

Apart from Gupta’s salary of $885,612 (S$1.2m), the remuneration package also included a cash bonus of $3.31m (S$4.49m), a share plan of $4.51m (S$6.11m), and other payments worth $48,362 (S$65,527).

Gupta has been CEO of the bank since November 2019. “Piyush Gupta has built DBS into an Asian banking powerhouse widely recognised for its digital leadership,” the bank said.

In 2018, DBS achieved record earnings of $4.16b (S$5.63b), up 28%. Total income was $9.74b (S$13.2b), also a new record for the bank. Return on equity, at 12.1%, was at its highest since 2007.

In 2017, Gupta’s remuneration package stood at $7.57m (S$10.26m) in total, comprised of a cash bonus of $2.84m (S$3.85m) and a share plan worth $3.81m (S$5.16m).

Photo by ROSLAN RAHMAN / AFP