Société ivoirienne de Banque (SIB), a nearly 75%-owned subsidiary of the Moroccan group Attijariwafa Bank, paid
1.25 billion FCFA of remuneration to its 10 highest paid employees during the 2019 financial year, we have
learned from documentary sources. This represents an average of 120 million FCFA of annual salary for
each of these employees, which makes 7.6% of the nearly 16.2 million FCFA of average remuneration per year,
for the other 830 employees.
The information specifies that this compensation does not take into account fees and other benefits
nature. It is significantly up if we compare it to the 954 million FCFA paid to the top 10 of the best
paid from this company in 2017. The identity and method of calculating the remuneration of this category
of employees are not made public, and it is difficult to know if these payments follow from a logic
performance contract or employment contract.
In the bank's annual report, which the Ecofin Agency consulted, it is specified that the remuneration of
executives was 482 million FCFA, taking into account salaries and other benefits. The SIB does not have
the palme d'or in the remuneration of the top 10 highest paid staff in Ivorian banks.
Ecobank Côte d'Ivoire, for example, in 2017, paid nearly 1.5 billion FCFA to the top 10 of its employees
the best paid. On the other hand, in many Anglo-Saxon countries where companies are forced to
give details of their remuneration policies, companies listed on the BRVM do not report
always public this type of information, except within the framework of the documents of the annual general meetings
which are distributed restrictively.