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Ana Botín earned 6.81 million as president of Santander in 2020, 31% less than in 2019

The president of Banco Santander, Ana BotÃn, received a total remuneration of 6.81 million euros in 2020, 31.5% below the 9.95 million he earned in the previous year, after having decided to halve his fixed salary and bonus due to the pandemic of the coronavirus, according to the annual report sent to the National Securities Market Commission (CNMV).

Botín, who last March undertook to reduce his remuneration for the year 2020 by 50% in the face of the impact of the coronavirus, obtained 3.17 million of fixed salary (same figure as in 2019) and 1.6 million bonuses ( compared to 6.5 million in 2019). In total, they amount to 4.84 million euros, which is 50% below the 9.65 million in 2019.

The reduction in total remuneration is 31.5%, with 6.81 million compared to 9.95 million a year ago, when adding other items, such as contributions to pension plans, insurance or subsistence allowance.

The CEO of the group, Josà © Antonio Ãlvarez, assumed the same commitment as Botín to reduce his 2020 salary to 50%. The fixed remuneration remained at 2.5 million and the bonus was 906,000 euros (compared to 4.3 million in 2019), which adds up to a remuneration of 3.4 million euros, compared to 6.8 million in 2019 (-50%).

When adding concepts such as contributions to pension plans and others, the total remuneration received by Ãlvarez in 2020 amounts to 6 million euros, 27.2% below the 8.2 million in 2019.

Apart from the cut by Botín and Ãlvarez, the rest of Santander’s directors decided that their salary would be reduced by 20% in 2020. In total, the entity’s board of directors received 19.07 million euros in 2020, 29.8% below the 27.18 million the previous year.

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