DBS CEO Piyush Gupta's 2022 salary rises 13.2 per cent to $15.4 million, which includes club, car and driver benefits worth $80k
SINGAPORE – Mr Piyush Gupta, the chief executive of DBS Group, saw his annual earnings climb 13.2 per cent to $15.4 million in 2022 as South-east Asia’s biggest bank posted record profit and return on equity .
In February, the bank reported a 20 per cent surge in net profit to $8.19 billion, with earnings driven by higher interest rates. It also achieved a new high on ROE of 15 per cent, up from 12.5 per cent in 2021. In a joint letter in the annual report, DBS chairman Peter Seah and Mr Gupta said that 2022 was a “breakout year” for DBS, with its ROE significantly surpassing previous highs of around the 12 per cent to 13 per cent range.
“If animal spirits return to markets, we should also see some upside to fee income. Barring any unexpected shocks to the global economy, DBS’ ROE will comfortably be above 15 per cent.”
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