R83 Million Payday For Bank CEO, Sim Tshabalala

Bank CEO Bags R83 Million Payday in Record Year

Standard Bank CEO, Sim Tshabalala, hit the jackpot with a staggering R83.3 million in total single-figure remuneration for 2023, marking a jaw-dropping 50% surge from the previous year’s R55.7 million haul.

His lucrative compensation package for the year comprised fixed remuneration of R11.67 million, a hefty cash incentive totaling R10.8 million, a deferred incentive of R13.2 million, and an eye-popping R47.6 million in vested equity from a group Performance Reward Plan (PRP).

Tshabalala witnessed an impressive 84.4% spike in his PRP award, soaring from R25.8 million in FY22 to an astounding R47.6 million in FY23.

In a record-breaking year, the bank chief’s remuneration underscores his pivotal role and exceptional performance within the financial sector.

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