Piyush Gupta, the CEO of DBS Group Holdings, saw his total remuneration reduced to $9.18 million for the FY2020 ended December, some 24.3% lower than his total salary of $12.13 million in the FY2019.

During the FY2020, Gupta’s base pay of $1.2 million remained flat, while his bonus was reduced by 27% (or $2.9 million) due to the “difficult operating environment”, “general cutbacks” and a 26% reduction in the bank’s profits, read the annual report put out by the bank on March 8.

In comparison, Gupta was granted a one-time recognition award of 80,000 shares in FY2019, as the bank saw a growth of 10% y-o-y in total income, and a 14% increment in its net profit y-o-y.

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