UOB CEO Wee Ee Cheong’s FY2025 pay down 20% at S$12 million, in line with profit drop

[SINGAPORE] UOB deputy chairman and chief executive officer Wee Ee Cheong received S$12 million in total compensation for the 12 months ended Dec 31, 2025, down 20 per cent from S$15 million the year before.

Wee’s latest remuneration package comprised S$1.4 million in base salary, S$10.6 million in bonuses, and S$42,629 in benefits-in-kind, transport and event-related benefits, the bank said in its FY2025 annual report released on Thursday (Mar 19) after market close.

Sixty per cent of his variable pay is deferred and will vest over the next three years. Of this deferred component, 40 per cent will be issued in cash, with the remainder in share-linked units.

The lender’s chairman, Wong Kan Seng, received S$2 million in directors’ fees, up from S$1.4 million the year before.

“In 2025, the board worked closely with management to review and sharpen the bank’s strategy – mapping out a 10-year plan which will guide us towards our next chapter of growth, anchored on Asean’s long-term potential,” said Wong in his chairman’s statement.

UOB’s priority is to reshape its business model towards a “more diversified and fee-driven revenue mix, leveraging our regional scale and connectivity”, said Wong.

Meanwhile, Wee pointed out in his statement three drivers of “sustainable growth” for the bank: connecting businesses across Asean; delivering more value to customers through scale and synergies; and providing smarter, safer and more personalised experiences.

One target the lender has set is to be the “No 1 trade bank in Asean”, said Wee, adding that UOB made “good progress” towards this goal in FY2025, with trade loans growing 26 per cent to S$45 billion.

The bank will also continue to strengthen its private banking operations through expanding advisory talent and investing in technology. This comes as wealth assets under management rose 6 per cent and wealth income increased 14 per cent year on year in FY2025.

“With Singapore’s role as a global wealth centre and UOB’s heritage and regional footprint, we are well-placed to serve entrepreneurs and families across Asean,” added Wee.

In February, UOB reported a full-year net profit of S$4.7 billion for FY2025, down 23 per cent from the previous year, on total income that rose 3 per cent to S$13.8 billion.

It is the second of Singapore’s three banks to release its FY2025 annual report. DBS, in its Mar 9 report, said CEO Tan Su Shan received S$9.6 million in total compensation for FY2025.

Shares of UOB closed 0.1 per cent or S$0.05 lower at S$37.16 on Thursday, before the announcement. In the year to date, the counter is up 5.4 per cent.