THE NUMBER of bankers in Spain who earn more than 1 million euros a year grew considerably in 2021, to a total of 221, compared to 128 the previous year, according to data published this week by the European Banking Authority (EBA).

The list shows that Spain ranks fourth in Europe in terms of the largest number of bankers with salaries of more than one million euros, only below Germany (589), France (371) and Italy (351).

In addition, a Spanish banker received the highest salary in the entire European Union in 2021, with a total of 14.67 million euros in the year.

The average salary of millionaire bankers in the country was 2.16 million euros, compared to the European average of 1.8 million euros.

In its analysis, the EBA pointed to the effect that the variable component of bankers’ salaries has on annual figures, which means that when these lenders have a good year, pay can rise considerably.

Factors influencing the strong 2021 performance include the lifting of many of the restrictions put in place the previous year due to the Covid-19 pandemic, staff relocation due to Brexit and inflation.

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By yjawq

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