Stanbic Bank CEO Joshua Oigara Salary, bonuses & allowances

Mr. Joshua Oigara was appointed as the Chief Executive and Executive Director of Stanbic Bank Kenya Limited on 1st December 2022 and 1st January 2023 respectively. He previously served as Group Chief Executive Officer and Managing Director, KCB Group for close to ten years.

Mr. Oigara has over the last decade been instrumental in driving growth and development of the banking sector. He also serves as a Non-Executive Director of Stanbic Nominees Limited. 

Joshua Oigara is one of the best-paid chief executive officers in Kenya today. The latest pay disclosure shows that he earned an incredible Sh. 299.1 million salary per year as the chief executive officer by the Stanbic Bank. This pay includes his basic salary, allowances, and bonuses.

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It is worth noting that these figures change as the NSE-listed firms make their salary disclosures. Some firms are efficient in disclosing while others drag their feet in stating their managerial and board salaries. In 2020, few to zero salary disclosures were announced, including by Stanbic Bank.

In the latest salary disclosure by the Stanbic Bank, Oigara earned a bonus of Sh. 145.3 million. He was also paid deferred compensation of Sh. 48.4 million as a bonus last year and a gratuity of Sh. 21.6 million.

Joshua Oigara’s salary has placed him in the set of the best-paid chief executive officers in the country.

Oigara’s previously disclosed salary had been Sh. 273 million. His basic salary was Sh. 72 million.

Stanbic Bank CEO Joshua Oigara’s salary breakdown;-

1. Salary: Sh. 72 million
2. Deferred compensation: Sh. 48.4 million
3. Gratuity: Sh. 21.6 million
4. Bonus: Sh. 145.3 million

Mr. Oigara holds an MBA with a distinction in International Business Management from Edith Cowan University, Australia, a Bachelor of Commerce degree from the University of Nairobi and is an Advanced Management Programme Graduate from INSEAD, Fontainebleau, France.

He is a Certified Public Accountant of Kenya, CPA (K) and a member of the Kenya Institute of Bankers (KIB) and the Institute of Certified Public Accountants of Kenya (ICPAK).