Standard Bank execs earned big bucks in 2023

Standard Bank's senior executive team laughed all the way to the bank in 2023 thanks to exorbitant remuneration increases that far outpaced inflation as well as the group's total staff cost increases.

The remuneration report of Africa's largest bank by assets, which was published late last week, showed its top six executives received average pay increases of 45% in 2023. That's almost eight times last year's prevailing inflation rate of 6% and almost three times the 17% increase in Standard Bank’s total staff costs for 2023.