OCBC‘s Group CEO Helen Wong saw her pay increase by 5.8 percent to S$12.8 million for the financial year ended December 2024, driven by a strong performance at the bank.
Her remuneration package was outlined in OCBC’s annual report released on Wednesday (26 March).
It included a base salary of S$1.2 million, a S$6.8 million bonus, S$4.5 million in deferred shares, and S$332,207 in other benefits such as club and car perks.
As reported by The Business Times, OCBC delivered a record net profit of S$7.6 billion for FY2024, up 8% from the year before.
In the fourth quarter, profit rose 4 percent year on year to S$1.7 billion.
The bank proposed a final dividend of S$0.41 per share, slightly lower than the S$0.42 paid a year ago, 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 previously, with a payout ratio of about 60% of the group’s net profit.
Wong’s pay remains below that of her counterparts at Singapore’s other major banks.
DBS outgoing CEO Piyush Gupta received S$17.6 million in FY2024, a 56.5 percent increase from the previous year’s S$11.2 million.
Compared to FY2022, when his pay was S$15.4 million, this represents a 14.3 percent increase.
Meanwhile, UOB CEO Wee Ee Cheong earned S$15 million in FY2024, down 5.5 percent from the S$15.9 million he received the year before.
Featured image credit: Edited from OCBC
