Jeremy Awori Salary: Absa (formerly Barclays Bank of Kenya) chief executive officer Jeremy Awori’ annual salary has hit the Sh. 100 million. The salary jumped by 12.9 per cent to hit Sh. 101. 1 million in the financial year ended December 2018. During the financial year, Awori was paid a salary of Sh. 34.26 million. He also got a retirement package amounting to Sh. 3.44 million, benefits of Sh. 26.39 million, bonus awards of Sh. 24.55 million, cash value award of Sh. 6.2 million, and share value award of Sh. 6.2 million.
In the 2017 financial year, Awori earned a total of Sh. 89.5 million. His compensation rose marginally from Sh. 87.8 million the year before. Mr. Awori’s pay in the review period included a basic salary of Sh. 33.4 million or Sh. 2.7 million per month, pension and other benefits (Sh. 28.9 million), bonus (Sh. 18.6 million), cash award (Sh. 4.4 million) and shares (Sh. 4 million).
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In the 2018 financial year, Absa recorded Sh. 7.47 billion after-tax profits for last year, representing a 7 per cent rise in year-on-year profitability that resulted largely from higher non-funded income.
Absa, the third Kenyan bank to announce its full-year results, saw its non-interest income, which comprises fees and commissions, dividend income and foreign exchange income, rise by Sh. 1.24 billion representing a 14.7 per cent jump to close the financial year at Sh. 9.7 billion.
The lender’s net interest income — including loans to customers and government securities –- remained largely flat, rising by Sh. 190 million, or the equivalent of 0.8 percent, to Sh. 21.99 billion.
The tier-one lender closed the year with a loan book of Sh. 177.35 billion, a 5 per cent jump from the previous year, while customer deposits increased 11.5 per cent to Sh. 207.4 billion.
The lender’s gross non-performing loans increased by Sh. 1.8 billion the equivalent of 14.88 per cent to Sh. 13.9 billion in the period from Sh. 12.6 billion the previous year as its loan loss provision, booked as an expense in the income statement, jumped 24.2 per cent to Sh. 3.87 billion.
