South African CEO Funeka Montjane pockets $4.2-million from Standard Bank in 2025

Funeka Montjane, chief executive of Personal and Private Banking at Standard Bank Group, earned R68.28 million ($4.2 million) in 2025, as Africa’s largest lender by assets delivered sustained earnings growth across its retail and private banking operations.

Her compensation increased 4.19% from R65.54 million ($3.99 million) in 2024, reflecting strong financial performance and the expanding role of Personal and Private Banking (PPB) as a key contributor to group profitability.

Compensation breakdown highlights performance-linked rewards

Montjane’s earnings included a base salary of R8.71 million ($530,995) and a short-term incentive of R8.97 million ($546,352), tied to performance targets. She also received a long-term incentive award of R10.97 million ($668,238), reinforcing alignment with the bank’s long-term growth strategy.

Career rise within Standard Bank

Montjane joined Standard Bank in 2008 and quickly rose through senior leadership roles. She served as chief financial officer of Personal and Business Banking South Africa before leading home loans and credit divisions.

In 2012, she became CEO of consumer and high-net-worth clients, later restructured into Personal and Private Banking. By 2021, she was appointed group CEO of PPB, placing her at the center of one of Africa’s largest retail banking franchises.

PPB drives client growth and earnings

Under her leadership, PPB has emerged as a core growth engine. Active clients increased from 14.8 million in 2022 to 16.6 million in 2025, reflecting expansion across retail and mass-market segments.

The division posted headline earnings of R11.4 billion ($694.37 million), accounting for more than 23% of Standard Bank’s total earnings.

Standard Bank strengthens financial position

Standard Bank’s total headline earnings nearly doubled from R25.02 billion ($1.7 billion) in 2021 to R49.2 billion ($3 billion) in 2025.

Total assets rose from R2.7 trillion ($144.5 billion) to R3.6 trillion ($175 billion), maintaining its position as Africa’s largest bank by assets. Tier 1 capital stood at approximately $13 billion, underscoring strong balance sheet resilience.

Strategic importance of Montjane’s leadership

Montjane’s leadership continues to shape Standard Bank’s retail and private banking strategy, particularly in scaling high-net-worth and mass-market offerings across Africa as the first CEO of that impressive business segment.

Her rising compensation mirrors the growing importance of PPB within the group’s long-term growth and profitability strategy.