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Pay of OCBC's Samuel Tsien up 12% to S$9.89m

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OCBC Bank chief executive Samuel Tsien got a 12 per cent pay hike in 2014 to S$9.89 million, according to the annual report released on Monday.

OCBC Bank chief executive Samuel Tsien got a 12 per cent pay hike in 2014 to S$9.89 million, according to the annual report released on Monday.

Much of Mr Tsien's pay increase came from cash bonus of S$5.14 million against the previous year's S$4.5 billion. Salary and fees of S$1.24 million was unchanged from 2013. Value of share options granted was S$856,000, up from S$750,000. Value of deferred share awards granted was S$2.57 million, compared to S$2.25 million in 2013.

Cheong Choong Kong who retired as OCBC chairman in August 2014 received S$1.55 million; he remains on the board as a director. In 2013, he got S$2.26 million.

Ooi Sang Kuang who became OCBC chairman from Sept 1, 2014, received S$1.01 million.

OCBC posted net profit of S$3.84 billion in 2014, up 39 per cent.

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