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OCBC chief Samuel Tsien gets 15.6% rise in salary in 2017

OCBC Bank's chief executive Samuel Tsien has got a 15.63 per cent increase in pay in 2017 from a year ago, the bank disclosed in its annual report on Friday.

Mr Tsien received S$9.69 million in 2017. In 2016, his total remuneration was S$8.38 million.

DBS Group Holdings chief executive Piyush Gupta got a 23 per cent pay rise to S$10.3 million last year, in cash and shares combined.

United Overseas Bank (UOB) chief executive Wee Ee Cheong got an 11 per cent pay rise to S$9.4 million in 2017.

All three CEOs had taken cuts in 2016 as the oil rout forced their banks to take higher allowances for bad loans to customers in the offshore and marine segment.

In 2016, Mr Tsien took a 20 per cent pay cut that brought his pay to S$8.3 million, down from S$10.5 million in 2015. Mr Gupta took a 23 per cent pay cut that brought his pay to S$8.4 million that same year, while UOB's Mr Wee had his pay reduced by 8.7 per cent to S$8.4 million in 2016.

sentifi.com

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