The logo of DBS is pictured outside an office in Singapore on Jan 5, 2016. (Reuters photo)DBS Group Holdings cut senior executive pay by 13% last year to hold managers accountable for weaknesses in three areas including surging nonperforming loans, Chief Executive Officer Piyush Gupta said. Remuneration for the bank’s senior management including Gupta fell to S$58.2 million (US$42 million) in 2016, DBS’s annual report shows. Gupta’s total pay fell 23% to S$8.44 million, a bigger cut than his counterparts at Singapore’s two other large banks. Despite the weaker environment for earnings, DBS’s share price rose 3.9% last year, compared with a 19% slump in 2015.

Source: Bangkok Post April 27, 2017 11:15 UTC