Absa’s annual remuneration report for 2023 was released in March 2023 – revealing how much the bank’s top execs earned over the last financial year. In its financial results for the full year ending December 2023, Absa recorded a total income of R104.6 billion for the year, up from R96.8 billion the year prior. Discounting the Barclays separation effects, this is only marginally lower at R104.5 billion (normalised). Normalised headline earnings were R20.
9 billion, higher but relatively flat compared to the R20.7 billion recorded in FY2022. The group saw its headline earnings per share increase marginally by 1% to 2,422.3 cents for the financial year ended 31 December 2023 (FY23). Although the group’s H2 dividend per share dropped by a sizeable 12.7% to 685 cents per share, its total dividend for the year increased by 5% to 1,370 cents per share.– a 10.6% cut from the R44.78 million he received in 2022. This comprises his fixed salary of R9.79 million and a cash incentive of R6.8 million. The group CEO also got a deferred award of R