Breath in and out.

While you did that Capitec’s CEO Gerrie Fourie made R3.

The CEOs of big companies like MTN and Sanlam don’t seem to be doing too badly for themselves.

And by ‘not too badly’, I mean they earn more in a year than most of us will earn in a lifetime.

Fourie is another one of those big earners, according to Capitec’s annual report for the financial year 2019.

Here’s BusinessTECH:

Group chief executive officer, Gerrie Fourie nearly doubled is take home pay for the year, to R95 million, having received a R56.6 million payout in 2018, thanks mainly to a long-term incentive (LTI), along with a 10% increase in his basic pay package.

His guaranteed pay amounts to R11.65 million, while he scored R78.669 million for LTIs, giving Fourie a daily pay packet of R260,263 a day.

The bank has continued to grow its client base by 15% over the last year to 11,4 million. An average of 127 000 clients joins the bank each month.

Capitec chief financial officer, Andre du Plessis was also rewarded for the group’s performance, with his complete remuneration package for the year amounting to R64.99 million, up from R41.6 million in 2018. Risk management executive, Nkosana Mashiya, picked up R20 million.

In March, Capitec reported its financial statements for the year ended February 2019:

• Headline earnings per share up 19% to 4 577 cents;
• Headline earnings up 19% to R5.292 billion;
• Total dividend per share up 19% to R17.50;
• Return on equity – 28%;
• Active clients – 11.4 million;
• Active banking app clients – 2.2 million;
• Active funeral policies – more than 360,000.

Hence those hefty rewards. Here’s a break down:

And here:

Must be nice.

[source:businesstech]