Santander Increases Ana Botin’s Pay by 13% After Record Profit

Banco Santander SA Chairman Ana Botin’s compensation for 2024 increased 13% after the lender reported the highest net income ever.

Botin earned €13.8 million ($14.4 million) in total, the lender said in a filing to regulators Friday. That’s up from €12.2 million in the previous year.

Her pay is slightly higher than Andrea Orcel’s, who runs Italian lender UniCredit SpA as chief executive officer. His total compensation for last year was €13.2 million, which was was one-third more than in 2023.

Santander reported a record profit for 2024 and said it’s expecting profitability to continue improving this ...