DBS CEO Piyush Gupta gets a S$17.6 million pay package for 2024, a jump of 56.5% from 2023 and up 14.3% from 2022

DBS’ outgoing chief executive Piyush Gupta received a total remuneration of S$17.6 million for the financial year ended Dec 31, 2024, representing a 56.5 per cent year-on-year increase from about S$11.2 million previously.

In FY2022, Gupta’s total remuneration was S$15.4 million. Comparing his total remuneration for FY2024 to that of FY2022, it represents an increase of 14.3 per cent.

Shares of DBS rose 0.8 per cent or S$0.36 to S$45.98 at the outset, from its closing price of S$45.62 on Wednesday.

Based on DBS’ annual report released on Thursday (Mar 6), Gupta’s base salary of S$1.5 million for 2024 remained unchanged from the previous year. He received a higher cash bonus of S$6.6 million as opposed to S$4.1 million in FY2023 and deferred remuneration of about S$9.4 million, up from S$5.6 million the year before.

Of the deferred amount, DBS said that around 17.1 per cent or S$1.6 million will be in cash, with the remaining to be issued in the form of shares.

These shares do not include the estimated value of retention shares worth S$1.4 million, which serve as a retention tool and to compensate staff for the time value of deferral.

https://www.businesstimes.com.sg/companies-markets/dbs-ceo-piyush-gupta-gets-s17-6-million-pay-package-2024-jump-56-5-2023-and-14-3-2022