(March 19): United Overseas Bank Ltd (UOB) cut chief executive officer Wee Ee Cheong’s 2025 compensation by about $3 million following a slump in its profit and dividend.
Wee’s remuneration totalled about $12 million, according to the the Singapore bank’s annual report published on Thursday. That compared with about $15 million a year earlier.
UOB posted a 23% decline in net income last year after booking its biggest-ever provision for commercial real estate loans that could turn bad. The final dividend dropped by a similar scale.
The stock dropped 3.5% last year compared with a 29% rally in DBS Group Holdings Ltd and an 18% increase in Oversea-Chinese Banking Corp (OCBC).
DBS, the country’s largest bank, paid new CEO Tan Su Shan $9.6 million after she took over the job in late March 2025.
Uploaded by Tham Yek Lee
