Nubank is expected to pay BRL 816 million in compensation to its top executives and members of the board of directors in 2022, according to a regulatory document published by the digital bank.
According to the reference form, a document that companies send to B3 and the Securities and Exchange Commission (CVM), around R$804 million will be distributed among the eight members of Nubank’s statutory board.
Another R$ 11 million will be shared by eight paid members among the nine that make up the board of directors of the digital bank created in 2013 and which currently has more than 54 million customers.
The information on the Nubank form generated discussions on social media on Wednesday (27), as the bank, which made its debut on the New York Stock Exchange in December with an initial public offering (IPO) of US$ 2.6 billion – which valued it at US$ 48 billion at the time – had a net loss of US$ 165.3 million in 2021.
The total amount of Nubank’s compensation to its executives is much higher than the R$185.3 million paid by the bank last year. The amount is also greater than the R$46.6 million in compensation paid to officers and directors.
Itaú Unibanco, the largest bank in Latin America and which at one point had a market value below that of Nubank at the time of the digital bank’s IPO, paid its managers R$444 million last year, including stock options and fixed compensation, according to your referral form. The compensation was divided among 45 members of the board of directors, statutory board and fiscal council.
Bradesco, on the other hand, paid around R$880 million in compensation to members of the board of directors and supervisory boards in 2021. The digital bank Inter paid R$26.2 million to 27 executives last year.
Also according to the Nubank document, 96% of the amounts paid to the company’s management members in 2021 came from variable compensation. This usually refers to stock options, an instrument widely used by high-growth companies to incentivize their main partners.
When contacted, Nubank did not immediately comment on the matter.
Source: CNN Brasil
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