The Royal Bank of Scotland will reveal this week that 300 senior staff received pay packages averaging £1m each last year.
The figures are expected to be outlined in the group’s annual report, due to be published this Thursday. The Government currently holds an 83 per cent stake in the bank.
The report will also include details of the top five company earners outside the board, although individuals do not need to be named. It will be the first time RBS has disclosed senior pay deals since the FSA introduced its revised remuneration code in December, last year.
The company made a £1.1bn loss in 2010, largely due to the £1.1bn cost of taking up the Government’s Asset Protection Scheme.