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UPDATE 1-Santander's Botin gets 4% pay rise in 2023 to 12.2 mln euros
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Adds details on payment from paragraph 3 to 5
MADRID, Feb 19 (Reuters) - Santander's SAN.MC executive chair Ana Botin was awarded 12.239 million euros ($13.19 million) in 2023, up 4% from 11.735 million euros in 2022, the euro zone's second-biggest lender in terms of market value said on Monday.
The rise in Botin's compensation comes after the bank reported a record 11.08 billion euros net profit in 2023.
Botin's pay comprises a total cash remuneration of 7.406 million euros, an increase of 2.5% from the previous year, the bank said in a filing of its annual report.
The chair's short-term variable remuneration rose 5%, while the long-term variable component fell 19%.
Her remuneration includes 3.19 million euros in shares or financial instruments and 1.144 million euros in the contribution to her pension or long-term savings plan.
($1 = 0.9276 euros)
(Reporting by Jesús Aguado; editing by David Latona)
((jesus.aguado@thomsonreuters.com; +34 91 835 68 32; Reuters Messaging: Reuters Messaging: jesus.aguado.reuters.com@reuters.net))
