OCBC Bank chairman volunteers for 26% pay cut

Singapore

OCBC Bank chairman Ooi Sang Kuang took a 26 per cent pay cut for 2016 as his fees fell by S$400,000 to S$1.4 million from S$1.8 million.

As a result of the lower chairman fees, Mr Ooi's total pay for 2016 was S$1.6 million, down from S$2.2 million in 2015, according to OCBC's 2016 annual report released on Thursday. It was the last of the three Singapore banks to publish their 2016 annual reports.