Kenny Fihla, the CEO of corporate and investment banking at Standard Bank Group, Africa’s leading lender by assets, was awarded a total compensation of R46.94 million ($2.46 million) in 2022 in recognition of his pivotal role in the group.
Fihla’s 2022 compensation package marked an impressive 11.5-percent increase over the previous year’s total reward of R41.94 million ($2.20 million), attributable to the outstanding financial performance achieved by the group throughout the year.
This compensation package comprises a base salary of R7.94 million ($416,658) and a performance-based short-term incentive of R11.25 million ($590,730). The short-term incentive was awarded in recognition of the bank’s outstanding performance during the year.
In addition, Fihla received a long-term incentive award of R13.75 million ($722,003) from the bank as a testament to his unwavering dedication to the group and his wealth of expertise as a seasoned professional.
Fihla, a towering figure within Standard Bank Group, has been the CEO of corporate and investment banking since 2017. His history with Standard Bank began in 2006, and since then, He has held key roles within the leading financial services group’s corporate and investment banking division.
As one of the top figures in the group, the South African multimillionaire executive, has made significant contributions to the remarkable financial achievements of Standard Bank Group, overseeing the group’s corporate and investment banking division deals including providing financial services and solutions to corporate clients, institutions, and high-net-worth individuals.
In recent years the group has reported impressive financial performance, and in 2022 its headline earnings soared by 37 percent, from R25.02 billion ($1.7 billion) in 2021 to R34.2 billion ($1.83 billion) at the end of its 2022 fiscal year. While its total assets also increased from R2.7 trillion ($144.5 billion) in 2021 to R3.0 trillion ($160.6 billion) in 2022.
Fihla’s leadership and contributions will continue to play a pivotal role in the success and growth of Standard Bank Group, solidifying his position as one of South Africa’s most influential business executives.