Remuneration to Directors and Executives
Remuneration to Directors
The Bank has established a set of well-defined and transparent remuneration policies for directors. The Human Resources and Remuneration Committee is responsible for reviewing these policies, taking into consideration the appropriateness of remuneration with respect to the scope of responsibilities of each director and related risks, long-term strategies and targets to ensure that the Bank’s remuneration is comparable to that of other commercial banks.
The General Meeting of Shareholders No. 113, on April 9, 2025, approved the remuneration for directors, Credit and Investment Committee members, Board Committees members, the Legal Adviser, and Director’s bonuses for 2025, to remain at the same rate as that of 2024, which shall remain effective until a General Meeting of Shareholders determines otherwise. A director who is also a member of Credit and Investment Committee and Board Committees shall receive additional remuneration in accordance with the increased responsibilities, except that the executive directors receive no remuneration for their membership in the Credit and Investment Committee and Board Committee as follows:
Remuneration for directors for the Board of Directors Meeting
- Chairperson of the Board Baht 250,000 per month
- Vice Chairperson Baht 200,000 per month
- Director Baht 150,000 per person/month
Remuneration for Credit and Investment Committee Members
- Chairperson Baht 100,000 per month
- Member Baht 70,000 per person/month
Remuneration for Board Committees Members:
The Audit Committee
- Chairperson Baht 90,000 per month
- Member Baht 60,000 per person/month
The Corporate Governance and Sustainability Committee
- Chairman Baht 50,000 per month
- Member Baht 36,000 per person/month
The Human Resources and Remuneration Committee
- Chairman Baht 50,000 per month
- Member Baht 36,000 per person/month
The Risk Oversight Committee
- Chairman Baht 50,000 per month
- Member Baht 36,000 per person/month
Remuneration for the Legal Adviser Baht 300,000 per month
Bonus for directors at the rate of 0.5 percent of dividend payments
Details of remuneration to directors are shown, as follows:
Remuneration
Directors received remuneration as directors, members of the Credit and Investment Committee, Audit Committee, Corporate Governance and Sustainability Committee, Human Resources and Remuneration Committee, Risk Oversight Committee, and as Legal Adviser, together with a bonus at the rate of 0.5 percent of the dividend payments, totaling Baht 170,896,379.65
Other remuneration
None
Remuneration to Executives
The Human Resources and Remuneration Committee shall propose remuneration of executives to the Board of Directors for consideration and approval in accordance with the Bank policies. The Bank reviews the appropriateness of executive compensation in relation to their scope of responsibilities and benchmarks against compensation rates of executives in comparable commercial banks.
Remuneration for the Chief Executive Officer, including that of executives, is determined in accordance with their duties and responsibilities, as well as the Bank’s strategies and short-term performance and long-term value creation, which reflects our status as a Bank of Sustainability. Moreover, the remuneration shall be able to attract and retain high potential executives, and shall align with the performance results of each executive, per key performance indicators designated in 2 dimensions, i.e., Key Stakeholders and K-Strategy 3+1 and Productivity, based on appropriate risk management and new business opportunities under Corporate Governance principles.
The executive compensation structure consists of fixed pay and variable pay, which linked to the Bank’s performance and individual performance, balancing short-term and long-term goals.
Details of remuneration to executives are shown, as follows:
Executives according to the definition of the Financial Institutions Business Act mean persons empowered to manage, including executives in the position of First Senior Vice President or equivalent and higher, and persons holding equivalent positions called by other names, totaling 113 persons (inclusive of six executives who resigned during the year), received remuneration including monthly remuneration, living expenses, special contributions, bonuses the Bank’s contributions to their provident funds, etc., totaling Baht 1,841,176,941. There are fixed remuneration amounting to Baht 1,087,257,856 and variable remuneration amounting to Baht 753,919,085.
Executives according to the definition of the Securities and Exchange Act and Capital Market Supervisory Board’s Notification include executives in the position of Executive Vice President or equivalent and higher, totaling 37 persons (inclusive of three executives who resigned during the year), received remuneration including monthly remuneration, living expenses, special contributions, bonuses, the Bank’s contributions to their provident funds, etc., totaling Baht 953,781,744 (such special contributions to be received in 2026 are inclusive of remuneration of executives that retired or resigned at the end of 2025). The ratio of compensation for executives in the position of Executive Vice President or equivalent and higher to employees was 3.26 percent.
In addition, the Bank’s executives received benefits and other welfares under the Bank’s regulations, similar to other employees, such as healthcare and medical checkup expenses, and loan welfares.
The Bank is committed to strictly adhering to good corporate governance principles and complying with the laws. Given the fact that the laws have clearly specified duties and responsibilities of directors and executives, the Bank’s directors and executives shall discharge their duties with responsibility, due care and loyalty, and shall strictly comply with all laws, the objectives, the Articles of Association of the Bank, resolutions of the Board of Directors and resolutions of the shareholders’ meeting.
In case where a director or an executive acts or omits to act in such a way that constitute non-compliance with his duty, which incurs damage to the Bank and/or renders undue benefits to said director, executive or related person, the Bank has legal rights to claim compensation for such damage from said director or executive, or bring an action against said director or executive for disgorgement of such benefits to the Bank (Clawback), as the case may be. Such liability shall not be limited, unless otherwise specified by laws.