Absa Bank CEO Abdi Mohamed’s Pay Jumps 39.7% to KSh109.7 Million on Strong FY 2024 Performance
Abdi Mohamed, CEO of Absa Bank Kenya, received a 39.7% pay increase in the 2024 financial year, with total compensation rising to Sh109.7 million from Sh78.5 million in 2023.
The increase reflects the bank’s strong performance, marked by higher net income and increased dividends to shareholders.
The rise in earnings was credited to Mohamed’s leadership, which drove growth in lending, improved efficiency, and strengthened the bank’s retail and SME banking segments.
Since taking office in May 2023, Mohamed has led strategic efforts in digital innovation and sustainable finance.
The board noted that the CEO’s pay was tied to performance targets, aligning executive compensation with shareholder value creation. Absa Bank continues to cement its position as a top-tier lender in Kenya’s financial sector.
