MADRID May 29 Top executives at Spain's
nationalised lender Bankia received salaries totalling
22 million euros ($28 million) in a year when the bank made the
second biggest banking loss in Spanish history, stock market
data showed on Tuesday.
Former chairman Rodrigo Rato, who stepped down earlier this
month when it became apparent the bank could not handle losses
stemming from a 2008 real estate crash, earned 2.4 million euros
last year, the records showed.
This does not include any possible severance package.
Bankia's 19 billion euro state rescue has helped to dash
faith in Spain's ability to recapitalise its banking sector
without international help.
Spaniards are shocked at the scale of the losses at Bankia,
which restated 2011 results to show a 3.3 billion euro loss on
Monday, and reported problematic exposure to the country's
shattered real estate sector at more than 35 billion euros.
The biggest Spanish bank bail-out ever comes after repeated
government promises it would not use public money to rescue
banks. Nearly one in four Spaniards are out of work in a
recession-bound economy smarting from drastic government