Analysis of the directors' fees and salaries for top bosses of four of the largest banks show that the bosses rewarded themselves handsomely last year even as bank profitability declined. Whereas earnings by the directors of Co-operative Bank declined, the lender spent more on its top leadership in 2020 compared to the previous year. The directors received Sh139.4 million in 2020, a drop from Sh170.1 million that the CEO, Jeremy Awori, and his Chief Financial Officer (Yusuf Omari) received. Awori took home Sh93.2 million in salaries and sitting allowance in 2020 compared to Sh115.5 million that he got the previous year. Salaries and allowances for bank directors and senior managers increased last year despite the Covid-19 pandemic that saw most of the lenders record lower profit.

Source: Standard Digital June 03, 2021 21:00 UTC