DBS chief Piyush Gupta's 2021 salary jumps 48% to S$13.6m

[sanzhu]

He did nothing

Ate some diarrhea laska dung

 

[sanzhu]

What chef is he used

 

[mp4005 help]

While government owned sector like transport, hospital and service industry getting little or no increment, he got almost 50%.

that is why private is best. can get 12 to xx mths bonus. no limit when it comes to remuneration.

property agents , insurance agents .. top ones earn more than ministers yearly.

CS is fixed pay no matter how well you do. got pay ceiling too.


Read HWZ Forum Rules!

 

[Kunkka]

Trickle down economics guys your turn soon

 

[106gunner]

No wonder he was once rated as the highest paid CEO in sg

 

[obsceneK2]

And I wonder why moe and our universities who call themselves world class cannot produce a local ceo to work at dbs

Somemore both NUS and NTU got their own Biz school and tons of MBA graduated from there since decades ago... Yet how many become renown CEO in fortune 500 coys?

 

[106gunner]

On the recent DBS saga, never deduct his paid or request him to resign, already 偷笑，still can increase own salary, really is buay pai sei

 

[Definitely]

Somemore both NUS and NTU got their own Biz school and tons of MBA graduated from there since decades ago... Yet how many become renown CEO in fortune 500 coys?

There are only 500 companies inside fortune 500. You expect half of the CEOs to be from sinkieland?

 

[Definitely]

seems like MAS never find it strange why he keeps getting such high bonus year after year. MAS approved.

Why would it be strange? DBS keep doing well year after year. See their share prices.

 

[matey1982]

https://www.businesstimes.com.sg/ba...-guptas-2021-annual-salary-jumped-48-to-s136m
WITH DBS DBS: D05 +1.95% posting a record net profit for 2021, the annual salary for its chief executive officer Piyush Gupta has gone up as well.

Gupta's annual remuneration jumped 47.8 per cent to S$13.6 million last year, according to the bank's annual report released on Wednesday (Mar 9).

His total compensation in 2020 was S$9.2 million, a 24 per cent decrease from the year before as the economic fallout from the Covid-19 pandemic affected the bank's earnings.

Gupta's pay in 2021 consisted of a salary base of S$1.2 million, a cash bonus of S$5.2 million, and shares worth S$7.1 million. A non-cash component worth S$75,462 is also part of his remuneration.

The shares amounting to S$7.1 million do not include the estimated value of retention shares worth S$1.4 million. This is used as a retention tool and to compensate staff for the time value of deferral, the report said. DBS employees do not receive ordinary dividends on unvested shares.

DBS's FY2021 net profit jumped 44 per cent, hitting a record S$6.8 billion. The 12.5 per cent return on equity was also the second-highest in more than 10 years.

South-east Asia's largest lender said in its annual report that it managed to deliver "its best year ever in 2021" under the leadership of Gupta.

"This achievement was all the more remarkable given ongoing challenges in the operating environment," DBS said, citing issues such as rock-bottom interest rate levels and increased China idiosyncratic risks, following moves by its government to temper property market exhuberance.

In the annual report, Gupta spoke about how DBS needs to be more deeply embedded into the markets it already has a presence in, outside of Singapore and Hong Kong. This includes China, Taiwan, India and Indonesia.

In 2021, the bank expanded its operations by acquiring Citigroup's consumer banking business in Taiwan and bought a 13 per cent stake in Shenzhen Rural Commercial Bank to become its largest single shareholder.

These moves, along with the amalgamation of Lakshmi Vilas Bank in India at the end of 2020, would add between S$1.2 billion and S$1.3 billion to DBS's revenue base and S$500 million to its bottomline, said Gupta.

In its sustainability report released on the same day, Gupta said the bank has chosen to prioritise climate change concerns as the most immediate issue to tackle among a myriad of other environmental challenges and is weaving environmental, social and governance (ESG) standards into its business.

DBS highlighted that it hit its target of growing sustainable investment to more than 50 per cent of its assets under management earlier than the target date of 2024.

It also made its digital banking services more accessible to migrant workers, foreign domestic workers and seniors.

FILTHY RICH!

 

[curiosity_20]

Why is Gupta still salaryman? Retire and enjoy life in the Bahamas already

 

[tank_t]

So good life, everyone below him must have 48% too.. right?? I wanna join dbs!!