DBS CEO Piyush Gupta takes 23% pay cut in 2016

Singapore

DBS Group Holdings chief executive Piyush Gupta took a 23 per cent pay cut in 2016 as the bank posted a net profit decline and non-performing loan rates rose more than expected, according to its annual report.

Mr Gupta's total remuneration fell to S$8.441 million in 2016, from S$10.935 million in 2015. That included a S$1 million decrease in his cash bonus, to S$3.1 million, and a S$1.5 million decrease in share incentives. Mr Gupta, who was the highest paid chief executive among the three local banks - DBS, OCBC Bank and United Overseas Bank (UOB) - in 2015, nevertheless continued to take in just slightly more than his counterpart at UOB, Wee Ee Cheong, whose annual remuneration shrank by 8.7 per cent to S$8.422 million in 2016.