The bank's former CEO was reportedly paid Ksh104
million as salary in 2018. He earned a basic pay of Sh37 million in the year
ended December of the same year he also received a bonus of Sh10.8 million,
deferred cash (Sh7.2 million), share-based awards (Sh18.7 million), non-cash
benefits (Sh28.7 million) and pension (Sh1.4 million).
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| Standard Chartered Bank |
A survey conducted
by a firm known as Financial Sector Deepening (FSD) specifically targeting the
banking sector in Kenya, has concluded that Standard Chartered Bank runs the
most expensive bank account in the country at Ksh. 17,750.00 annually.
It is currently
not known to the public how much the banks current CEO Mr. Kariuki Ngari takes
home annually but records indicate that former CEO Lamin Manjang took home a
whopping Ksh. 104 million in 2018.
Mr Lamin Manjang was reportedly paid Ksh104
million as salary in 2018. He earned a basic pay of Sh37 million in the year
ended December of the same year he also received a bonus of Sh10.8 million,
deferred cash (Sh7.2 million), share-based awards (Sh18.7 million), non-cash
benefits (Sh28.7 million) and pension (Sh1.4 million).
His compensation
for the previous year comprised a basic pay of Sh33.8 million, bonus (Sh12.1
million), deferred cash of Sh8.1 million, stock awards (Sh15.1 million),
non-cash benefits (Sh30.3 million) and Sh1.4 million for pension.
The cost of
running a bank account encompasses withdrawals, deposits, transfers and paying
for account maintenance charges like ledger fees and balance enquiries.
The survey lists
Barclays bank now trading as Absa, coming as the second most expensive financial
institution to maintain an account in at Ksh14, 558.00.
Others were
Stanbic bank Ksh12, 312.00, NIC bank Sh13, 393.00. Diamond Trust Bank was the
cheapest Ksh 845 year.
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