Banker paid €6m a YEAR

Report reveals fatcat execs.. and 48 get €1m

ONE fatcat banker in Ireland was paid more than €6million last year while another 48 top bank executives earned at least €1million each.

A report found under 50 top executives working for financial institutions in this country were paid a total of €86million between them in 2021.

But the public is not allowed to find out who the bankers are – as the latest information from the European Banking Authority does not identify the individuals or the companies they work for.

The EBA’S report disclosed that 48 bankers working for financial organisations in this country were paid more than €1million in 2021. Most of these high earners were employed in investment banking and collectively they were paid over €86million.

The report also reveals that around €50million of this was drawn from what is described as “variable remuneration” which usually means bonuses for making money for the banks.

The report also revealed that 33 bank bosses within the group were paid between €1million and €2million.

A further eight received between €2million and €3million, while six were paid between €3million and €4million. The data does not specify the institutions involved apart from revealing that they are employed by EU banks and investment firms.

At a time when interest rates are rising and putting increasing pressure on mortgage holders, the report found that the number of bankers and investment professionals in the EU who earned more than €1million hit a record last year.

The EBA data shows that the highest-paid banker in the European Union is located in Spain and earned between €14million and €15million in 2021.

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Bank bosses at financial institutions here who trousered €1-2million