Co-operative Bank’s chief executive, Gideon Muriuki, earned Sh260.3 million in bonus last year, the largest in the banking industry, under the bank’s performance-based reward system for staff.
The lender says it rewarded the CEO for protecting shareholder returns while navigating the bank through the Covid-19 pandemic.
Mr Muriuki’s bonus dropped from Sh271 million in 2019 but dwarfed those paid to CEOs of rival big banks which were slashed by larger margins.
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