[SINGAPORE] OCBC group chief executive officer Helen Wong received S$12.8 million in total remuneration for the financial year ended December, up 5.8 per cent from S$12.1 million in the prior year.
This comprised a base salary of S$1.2 million, a bonus of S$6.8 million, deferred shares amounting to S$4.5 million, as well as payment in the form of other benefits worth S$332,207, according to the bank’s annual report released on Wednesday (Mar 26).
Some benefits that she enjoys, which are paid for by the bank, include club and car benefits.
In comparison, DBS’ outgoing chief executive Piyush Gupta is the highest-paid chief executive among the three Singapore banks. He received a total remuneration of S$17.6 million for the financial year ended Dec 31, 2024, representing a 56.5 per cent year-on-year increase from about S$11.2 million previously.
In FY2022, Gupta’s total remuneration was S$15.4 million. Comparing his total remuneration for FY2024 to that of FY2022, it represents an increase of 14.3 per cent.
Meanwhile, UOB chief executive officer Wee Ee Cheong was paid S$15 million for FY2024, down 5.5 per cent from the S$15.9 million he was paid in the prior year.
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In February, OCBC reported a net profit of S$1.7 billion for the fourth quarter ended December, up 4 per cent from S$1.6 billion in the previous corresponding period.
This brought its full-year net profit to a record S$7.6 billion, an increase of 8 per cent from the prior year.
The lender has proposed a slightly lower final dividend of S$0.41 per share, from S$0.42 the year before, and recommended a special dividend of S$0.16 per share.
This brings the full-year dividend to S$1.01 per share, up from S$0.82 per share in the prior year, and represents a payout ratio of about 60 per cent of the group’s net profit.
Shares of OCBC closed 0.8 per cent or S$0.13 higher at S$17.19 on Tuesday.
