ABSA Bank Kenya CEO Jeremy Awori ranks among the highest paid CEOs in Kenya. According to ABSA Bank Kenya annual report, the CEO’s earnings hit Kes101.6 million-a 12.9 percent increase-in the year ended December. This attractive pay package was buoyed by high bonus payout.
Breakdown of Mr. Awori’s pay:
Annual Salary Kes34.26 million (Kes2.8 million per month
Pension and other benefits-Kes29.8 million
Cash bonus award-Kes24.6 million
Share value plan-Kes12.4 million
In 2017, the CEO of the Nairobi Securities Exchange-listed firm pocketed Kes89.5 which was adjusted by 12.9 percent thanks to the “overall performance and external market competitiveness,” BBK stated in their annual report.
Jeremy Awori’s Earning In 2019
Retirement Package-kes3.36 million
Other Benefits-kes25.63 million
Cash Value award-kes4.44 million
Share value award-kes4.04 million
BBK’s profit during the period hit kes7.4 billion, a growth of 7.1 percent after tax.
CEO on the success of 2020
The CEO of the tier 1 bank accredited the success of on their 2018 strategy. BBK, with a market share of 8.5%, saw their balance sheet grow by 20% in Total Assets to Kes325 billion, setting a new record for the bank. Awori statement on the growth of the bank in 2019 reads in part:
We safeguarded Shs 207bn of deposits for our customers, reflecting the fastest growth in a decade at 12% year-on-year. A strong revenue growth buttressed by well-contained cost base, increased our operating profit by 8% year-on-year, which was the highest growth since 2010.
These financial successes reflected the results of our collective efforts to transform customer experience. We developed products and services to fulfill the evolving customer needs; for example, the Timiza Virtual Banking platform, which attracted 3 million new customers in nine months to the end of 2018, La Riba Trade Finance, Zidisha na Salo – a salary advance proposition, unsecured bid bond for SME customers and Signature Credit Card, among others. In addition, we reviewed and revised upward our service standards across all business units and functions.