OCBC CEO Samuel N. Tsien's salary up 10.42% to $10.70m in 2018

The bank’s full-year profits rose 11% YoY to $4.49b.

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

Tsien’s remuneration comprised a base salary of $1.24m, a bonus of $5.03m, share options worth $839,000, deferred shares worth $2.51m, and other benefits worth $61,000.

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

Net interest income rose 9% YoY to $5.89b amidst higher loan growth and net interest margin (NIM). NIMs edged up 5bps to 1.80% amidst wider margins in Singapore, Malaysia and Greater China. Return on equity also rose to 11.5% from 11%. Loan growth also hit 9% YoY to $258b across all key markets, with loans to Singapore rising 8%.

Compared to the CEOs of Singapore’s big banks, Tsien enjoyed the second highest salary after DBS chief executive Piyush Gupta’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.