Spain's Santander board payouts shrink in 2013

MADRID Fri Feb 21, 2014 3:26pm EST

Related Topics

MADRID Feb 21 (Reuters) - Spain's biggest bank Santander said in its annual report on Friday that its board members earned a collective 24.5 million euros ($33.7 million) in 2013, 11 percent less than a year earlier, even though profits rose.

Banker pay is still under scrutiny in Europe and other regions in the wake of the 2008 financial crisis, and 2013 proved a mixed year for compensation as some firms reveal they pushed up bonus pots while others trimmed payouts.

Santander's payout cut compared with a near 9 percent rise for the board members of the country's second largest bank BBVA , who had earned a collective 14.6 million euros in 2013.

Santander's Chairman Emilio Botin earned 3 million euros last year, unchanged from a year earlier. ($1 = 0.7275 euros) (Reporting by Paul Day; Editing by Sarah White and Marguerita Choy)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.