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S$18m hongbaos for DBS staff are from managers' bonus pool

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The hongbaos totalling S$18 million given to 18,000 DBS employees came from senior managers' bonus pool, said Peter Seah, chairman of DBS Group Holdings, on Thursday.

Singapore

THE hongbaos totalling S$18 million given to 18,000 DBS employees came from senior managers' bonus pool, said Peter Seah, chairman of DBS Group Holdings, on Thursday. As a result, the special bonus did not increase the bank's costs, he said at the bank's annual shareholders'