Story perspectives

DBS CEO Resigns After Record Profits and Pay Surge

4/1/2025

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Summary

Story summary

Piyush Gupta resigned as DBS CEO after 15 years, with his salary increasing from S$8 million in 2010 to S$17.6 million in FY2024.
DBS achieved record income of S$22.3 billion and a net profit of S$11.3 billion in FY2024.
OCBC and UOB reported higher CEO compensation and profits, while global competitors like Citigroup and UBS earned more.
Singapore banks exhibit strong profitability and stability, maintaining high return on equity and capital ratios despite restructuring-related job cuts.

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Story summary

Piyush Gupta resigned as DBS CEO after 15 years, with his salary increasing from S$8 million in 2010 to S$17.6 million in FY2024.
DBS achieved record income of S$22.3 billion and a net profit of S$11.3 billion in FY2024.
OCBC and UOB reported higher CEO compensation and profits, while global competitors like Citigroup and UBS earned more.
Singapore banks exhibit strong profitability and stability, maintaining high return on equity and capital ratios despite restructuring-related job cuts.