UOB employees turned up in the hundreds on Wednesday (Feb 7) as they bade a final farewell to the bank’s late former chairman Wee Cho Yaw, who died last Saturday at the age of 95. Read more at The ...
DBS boss Piyush Gupta takes US$3 million pay cut over Singapore digital banking disruptions
Gupta’s compensation took a 30 per cent hit due to last year’s disruptions that affected payment and ATM transactions across the city state.
How UOB’s Wee Cho Yaw nailed the biggest bank takeover of his career
But it was the bank's takeover of OUB in 2001, the biggest acquisition of Wee's career, that remains UOB's most famous to date -- partly due to the parties involved, partly because it offered the ...
UOB Kay Hian raises Parkway Life REIT’s target price to $5.07
UOB Kay Hian's Jonathan Koh has kept his "buy" call on Parkway Life REIT following its FY2023 results. And with steady distribution growth ahead, he has raised his target price to $5.07 from $4.84.
Biggest Singapore Bank Cuts CEO’s Pay By Millions After Outage Hits Profit
DBS Group Holdings Limited's fourth-quarter profit came in short of analyst expectations amid signs of pressure on margins. And while 2023 results hit a record, Chief Executive Officer Piyush Gupta's ...
The CEO of Southeast Asia’s largest bank is taking a $3 million pay cut because of broken digital banking services
DBS reported record full-year profits on Wednesday, but also slashed the pay of senior executives following several major disruptions to online services.
Singapore’s GIC makes senior leadership changes, appoints new COO
Singapore sovereign wealth fund GIC's current deputy chief operating officer Sam Kim will be appointed as COO as part of a wider senior leadership changes, it said a statement on Wednesday. GIC, one ...
Singapore-based DBS Group cuts CEO Piyush Gupta’s variable pay by 30%
This decision by DBS Group to cut its CEO's compensation comes despite the bank reporting a two percent increase in net profit to S$2.39 billion in the quarter ending December 31.
DBS Group’s India-born CEO Piyush Gupta takes $4.1 million variable cut. Here’s why
Singapore's biggest lender DBS Group Holdings Limited has said that its chief executive officer Piyush Gupta took a 30 per cent cut in variable pay which amounts to Singapore $4.1 million, Bloomberg ...
This was Singapore’s biggest commercial investment deal in Q4
According to a Savills report, Singapore’s commercial sector recorded a total of S$1.6 billion worth of investment sales in Q4/2023, which came from 13 transactions (all from the private sector). ...
Singapore’s DBS slashes CEO’s 2023 pay by $3m
CEO Piyush Gupta's variable compensation, which typically covers bonus payouts, was cut by 30%, which amounted to SG$4.14 million ($3.08 million), DBS said in a media release as it published its ...
Stealing food, fiddling with ATMs: Macaque gets up to monkey business at Beauty World
SINGAPORE: Singaporeans are no strangers to monkeys and their antics, from daredevil stunts straight out of the Mission: Impossible action movies to hanging out on a huge crab replica at The Punggol ...
DBS slashes CEO’s variable pay by 30% after multiple digital disruptions
DBS Group cut compensation for its senior management to "hold them accountable" for a number of digital disruptions that year.
DBS Q4 profit up 2% before one-off items, proposes 1-for-10 bonus share issue
In addition, DBS’s board is proposing a 1-for-10 bonus issue, meaning one bonus share for every 10 shares held. The bonus shares will qualify for dividends, starting from the first-quarter 2024 ...
UPDATE 2-Singapore’s DBS maintains 2024 guidance, Q4 profit beats forecasts
Q4 net profit rose to S$2.39 bln vs S$2.37 bln estimate * Proposed final dividend 54 cents/share and 1-for-10 bonus issue * Net interest margin at 2.13% in Q4 versus 2.05% a year earlier * 2023 ROE ...
DBS CEO Piyush Gupta takes 30% cut in 2023 variable pay for bank’s digital disruptions
SINGAPORE - The 2023 variable compensation for DBS Group Holdings chief executive officer Mr Piyush Gupta and other members of the lender’s group management committee has been cut to hold them ...