Despite the bank's record profits in 2023, the service outages led Gupta's pay to drop from $15.4 million in 2022 to $11.2 million, last year.
SINGAPORE: Singapore’s largest lender DBS Bank has revealed that its chief executive Piyush Gupta’s pay was slashed by a hefty 27 per cent, last year. Despite the bank’s record profits in 2023, Mr Gupta’s pay dropped from $15.4 million in 2022 to $11.2 million, last year.
In its 2023 annual report, released yesterday , DBS said: “While the bank fared well against most priorities on its balanced scorecard, it fell short in technology resiliency. This and the resultant impact on customers and the franchise were taken into account when determining the scorecard performance of both the group and the CEO.”
The bank said in its report: “The gaps in technology resiliency resulted in a lower scorecard appraisal by the board compared to the previous year.”
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