Part-nationalised Royal Bank of Scotland has revealed that it paid £375m to 323 staff last year in a move set to fuel further anger in the UK over bank pay.
The hefty pay-out means 323 of its bankers - those deemed to be in risk-sensitive roles, known as ‘code staff’ - earned an average of £1.2m each in 2010.
RBS, which is 83%-owned by the UK taxpayer, also said its highest-paid senior executives outside board level were paid a total of £21m last year - with two earning £5.9m each.
The disclosures were made in line with new European Union rules and follow the sector's so-called Project Merlin deal with the British government to rein in pay and boost business lending.
RBS has already sparked controversy after it emerged last week that chief executive Stephen Hester was awarded an extra shares bonus worth up to £4.5m - taking his total potential package for 2010 to £7.7m.
