As Singapore’s largest banks reported record-year revenue and profit, DBS Group paid cheerful CEO Piyush Gupta S$ 17.6 million ( US$ 13.22 million ) for 2024, up 57 percent from the previous year.
In the bank’s annual report, which was released on Thursday ( Mar 6 ) on behalf of Southeast Asia’s largest lender by assets, Tan Su Shan, the company’s new CEO, stated that the company also has “momentum.”
DBS property has been rising since mid-February when the bank announced a payout capital gain strategy and forecast improved net interest income for 2025 after recording a rise in monthly revenue.
Chairman Peter Seah stated in the report that” Our strong performance reflects the structural modifications Piyush has implemented over the past ten years, particularly the development of high-ROE companies like money management, exchange services, and government customer sales.”
On March 28, Gupta will move along. DBS expanded its footprint to include China, India, Indonesia, and Taiwan as part of his 15-year career as a local bank powerhouse, helped by mergers that established a major presence there.