SINGAPORE: DBS CEO Piyush Gupta’s salary has increased by 13.2 per cent amid a stellar performance for the banking giant last year, according to DBS’ latest annual report.

Mr Gupta’s total salary for 2022 soared to $15.4 million, according to the report. His pay included a salary of $1.5 million, a cash bonus of $5.77 million, and deferred remuneration in cash and shares of $8.04 million. He also received non-cash benefits like club, car, and driver benefits, worth $80,529.

The chief executive’s pay package was more than $10 million from 2017 to 2019, before it dipped to $9.2 million due to the COVID-19 pandemic in 2020.

His total compensation saw a whopping 48 per cent jump in 2021, when it rose to $13.6 million.

Mr Gupta’s latest pay package comes as Southeast Asia’s largest bank achieved record profits and return on equity (ROE). The group’s profit surged by 20 per cent last year to a new high of 8.2 billion.

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