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RETAIL BANKING | Staff Reporter, Singapore

OCBC CEO Samuel N. Tsien's salary up 10.42% to $7.90m in 2018

He enjoyed the second highest salary after DBS CEO.

The remuneration of Oversea-Chinese Banking Corporation (OCBC) CEO Samuel N. Tsien rose 10.42% from $7.16m (S$9.69m) in 2017 to $7.90m (S$10.70m), the bank’s annual report revealed.

Tsien’s remuneration comprised a base salary of $915,671 (S$1.24m), a bonus of $3.71m (S$5.03m), share options worth $619,601 (S$839,000), deferred shares worth $1.85m (S$2.51m), and other benefits worth $45,048 (S$61,000).

In 2018, OCBC’s profits rose 11% YoY to $3.32b (S$4.49b), which were slightly offset by a decline in profits from Great Eastern Holdings (GEH).

Compared to the CEOs of Singapore’s big banks, Tsien enjoyed the second highest salary after DBS chief executive Piyush Gupta’s $8.63m (S$11.68m). However, Tsien’s salary growth was the lowest amongst the three, trailing behind UOB head Wee Ee Cheong’s 12.58% increase and Gupta’s 15.5% raise.

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