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Kenya’s banking sector has proven to be highly lucrative, especially for its top executives.
Chief Executive Officers (CEOs) in the industry earn millions in total compensation packages that include salaries, performance bonuses, stock awards, and various allowances.
Leading institutions with some of the highest-paid CEOs include Co-operative Bank, Equity Bank, NCBA (National Commercial Bank of Africa), Kenya Commercial Bank (KCB), Standard Chartered Bank, Stanbic Bank, I&M Bank, Absa Bank, and Diamond Trust Bank (DTB).
List of Banking Giants and CEO compensation
1. Paul Russo- KCB Bank
Paul Russo has been the Chief Executive Officer of KCB Group PLC since May 2022.
He sits on the boards of several key institutions within the Group, including KCB Group PLC, KCB Bank Kenya, National Bank of Kenya (NBK), KCB Investment Bank, KCB Foundation, BPR Bank Rwanda Plc, and Trust Merchant Bank (TMB).
In 2024, KCB Bank CEO Paul Russo received a total compensation of Ksh 250.2 million, marking a 40.8% increase from the previous year.
His compensation package includes salary, bonuses, and stock awards.
2. John Gachora – NCBA Bank
John Gachora is the Managing Director of the NCBA Group. He is a director of several other companies and previously served as a Managing Director at Bank of America Securities and as Managing Director, Corporate and Investment Banking at Barclays Africa before joining the NCBA Group.
In 2024, NCBA Bank CEO John Gachora earned a total compensation of Ksh 208.4 million, reflecting a 12.2% increase from the previous year.
The package comprises salary, bonuses, and other executive benefits.
3. Karuki Ngari – Standard Chartered
Kariuki Ngari is the Chief Executive Officer and Managing Director, Kenya and Africa of Standard Chartered Bank.
Prior to his current role, he served as the Global Head of Retail Distribution for Standard Chartered Bank in Singapore.
In 2024, Standard Chartered Bank CEO Kariuki Ngari received total compensation of Ksh 174.4 million, a significant 43.5% increase from the previous year.
4. Kihara Maina – I&M Bank
Kihara Maina joined I&M Bank as the Chief Executive Officer and Board member in May 2016, a position he held up to February 2023 when he was appointed as the Regional Chief Executive Officer.
Before joining I&M Bank, Kihara was the Managing Director of Barclays Bank Tanzania (now Absa Bank Tanzania).
In 2024, I&M Bank CEO Kihara Maina took home a total compensation of Ksh 69.3 million, representing a 9.7% decrease compared to the previous year.
His compensation package includes salary, bonuses, and stock awards.
Also Read: Top 10 Most Valuable Kenyan Brands 2025
5. Abdi Mohammed – Absa Bank
Abdi Mohamed is the CEO and Managing Director of Absa Kenya Absa Bank Kenya Plc, effective from 1 May 2023.
Before his appointment to Absa Bank Kenya, he was the Managing Director of Absa Bank Tanzania and acting Managing Executive for Retail and Business Banking, Africa Regional Operations.
In 2024, Abdi Mohammed, the CEO of Absa Bank Kenya, received total compensation of Ksh 109.8 million, which represents a 39.8% increase from the previous year.
6. Patrick Mweheire – Stanbic Holdings plc
Patrick Mweheire was appointed as the Chief Executive of Stanbic Holdings Plc and Non-Executive Director of Stanbic Bank Kenya Limited on 3 March 2020.
Mweheire previously served as the Chief Executive of Stanbic Bank Uganda Limited from December 2014 until he was appointed Chief Executive of the Company.
In 2024, Stanbic Bank CEO Patrick Mweheire received a total compensation of Ksh 95.5 million, reflecting a 12.8% increase from the previous year.
7. Nasim Devji – DTB Bank
Nasim joined the DTB Group in 1996, following which she was appointed Group Chief Executive Officer of Diamond Trust Bank in East Africa in 2001.
In 2024, DTB Bank CEO Nasim Devji received a total compensation of Ksh 62.9 million, marking a 4.23% decline from the previous year.
Also Read: Why Bank CEOs Deserve the Millions They Earn as Monthly Salary
8. Gideon Muriuki – Co-operative Bank
He joined the Bank in 1996 as a Senior Corporate Manager, then became Director, Corporate and Institutional Banking in 1999, before he was appointed Managing Director in 2001.
In 2024, Co-operative Bank CEO Gideon Muriuki earned a total compensation of Ksh 172.5 million, reflecting an 11.7% increase from the previous year.
9. James Mwangi – Equity Bank
James Mwangi is the Managing Director and CEO of Equity Group Holdings.
He has served on board and advisory roles at the Global Advisory Council for VISA Inc, the Clinton Global Initiative, the G8 New Alliance for Food Security and Nutrition, US President Barack Obama’s Initiative for Global Development, the G20 Advisory Board of Agriculture and Initiative for Global Development and the Global Agenda Council on New Economic Thinking of the World Economic Forum from 2003-2007.
In 2024, Equity Bank CEO James Mwangi received total compensation amounting to Ksh 166.3 million, representing a 4.7% increase from the previous year.
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