Former KCB CEO earns Ksh 17.7 million salary in part-time job

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Former KCB chief executive officer Martin Oduor-Otieno has been earning Ksh. 1.5 million per month for his part time job as the non-executive director of South Africa’s Standard Bank Group.

This means that in the year ended December 2016, Oduor-Otieno earned Sh. 17.7 million.

This is according to the latest annual reports that have been disclosed by Standard Bank Group, which is the largest bank in Africa.

The ex-KCB chief currently runs a private consultancy business and is also a board member of cigarette manufacturer BAT Kenya.

His annual pay has surpassed what many listed companies pay all their directors in a year. In fact, it is only Safaricom and Equity Bank which pay all their directors a combined total of Sh. 21.3 million and Sh. 47 million respectively.

Nonetheless, the bank Oduor-Otieno works for is of no mean status. Its total assets stand at Sh. 15.2 trillion or twice the size of Kenya’s economy.
Its net earnings of Sh. 179.7 billion in the year ended December are 3.7 times that of Safaricom –the most profitable firm in East Africa.
The bank operates in 20 countries in Africa, including Kenya, where it has direct and indirect interests in Stanbic Holdings Plc and Liberty Kenya Holdings. It also owns a London-based securities trading company in a joint venture with Industrial and Commercial Bank of China.

Source:Bizna

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