DBS Outgoing CEO Gets $13 Million in ‘Another Banner Year’
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DBS Group Holdings Ltd. increased Chief Executive Officer Piyush Gupta’s total pay by 56% for 2024, a year in which the Singapore-based bank reported record profits and strengthened its technology.
Gupta earned S$17.6 million ($13.2 million) last year, up from S$11.2 million in 2023 when he took a pay cut due to digital banking glitches, according to the bank’s annual report released on Thursday. On top of this package, which included a cash bonus of S$6.6 million, DBS’s board also granted him a special recognition award of S$2.5 million.