NewsLocalTwo Cypriot bankers got over €1m each of annual salary in 2020

Two Cypriot bankers got over €1m each of annual salary in 2020

Two bankers in Cyprus were paid as much as €3.43 million in total in 2020, according  to European Banking Authority data published on Thursday. One got €1.9 million and the other €1.53 million, according to Philenews.

In previous years, the most highly paid bankers were five to seven individuals with average total earnings of €15.1 million.

The Authority’s data focused on the remuneration of EU bank staff who received more than €1 million in 2020.

The report also stated that the number of high earners has fallen significantly from 2019 to 2020 mainly in countries such as France and Italy.

This was mainly caused by the more conservative remuneration policies implemented during the Covid-19 pandemic.

On the contrary, in countries such as Germany and Norway there has been an estimated increase of 10.4% in high earners.

According to the report, certain EU Member States have reported high incomes while in others, there are no staff receiving annual remuneration at this high level.

 

by Daphne Stavrides

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