DBS CEO Tan Su Shan receives over S$9.6 million in remuneration for FY2025: DBS annual report

DBS chief executive officer Tan Su Shan reportedly received a total compensation of more than S$9 million for the 12 months ended Dec. 31, 2025, according to the bank's annual report released on Mar. 9.

Tan’s remuneration package totalled slightly over S$9.6 million, comprising S$975,250 in salary, nearly S$3.7 million in cash bonus, more than S$4.9 million in deferred compensation, and S$68,694 in non-cash benefits such as club, car and driver privileges.

However, this figure excludes a retention award of S$737,250. According to DBS, this award is meant to serve as a retention tool and compensate employees for the time value of deferred compensation.

DBS' 2024 annual report showed that Tan’s pay package is lower than the S$17.6 million received by former CEO Piyush Gupta for FY2024, his final full year leading the bank before stepping down.

For FY2025, Gupta received over S$4.2 million in compensation for his tenure as CEO from Jan. 1 to Mar. 28, 2025.

This included S$369,048 in salary, S$1.77 million in cash bonus, over S$2 million in deferred compensation and S$42,297 in non-cash components.

Tan took over from Gupta as CEO on Mar. 28, 2025.

DBS' performance for FY2025

In the annual report, DBS said the bank continued to deliver solid financial performance under Tan’s leadership despite a "challenging operating environment marked by macroeconomic uncertainty and rate headwinds".

According to The Business Times, on Feb. 9, the bank reported that full-year net profit for FY2025 fell by 3 per cent to S$10.9 billion, attributing it to mainly the implementation of the global minimum tax in Singapore.

Despite this, the bank's total income and profit before tax rose to all-time highs of S$22.9 billion and S$13.1 billion respectively, the report read.

Though return on equity stood at 16.2 per cent, which is lower than the 18 per cent recorded in FY2024, it is still within DBS' medium-term target range of 15 to 17 per cent.

The figure also remained several percentage points above local and global peers, DBS noted.

DBS also crossed the US$100 billion (around S$128 billion) market capitalisation milestone in June 2025, becoming the first Singapore-listed company to do so.

Its market value later rose to US$124 billion (around S$159 billion) by the end of the year, placing the bank among the world’s top 25 banks by market capitalisation.

The bank said aggregate total compensation for its senior management, including salary, cash bonuses and deferred awards, amounted to S$83.1 million in 2025.

This figure includes Tan's S$9.6 million remuneration package.

Excluding her compensation, the median increase in total pay for senior management members who served on the Group Management Committee in both 2024 and 2025 was 9.5 per cent.

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