The number of millionaire bankers has never been so high in Europe

The European Banking Authority (EBA) shared, Thursday, January 19, its last count, relating to 2021, of bankers having earned more than 1 million euros in the year. With 1,957 millionaires listed in total in the European Union (EU), including 371 in France, this year is a record, recording an increase of 41.5% compared to 2020.

The year 2021 “shows a significant increase in the number of people working for European banks and investment companies who received remuneration above 1 million euros”notes the EBA, which has been involved in the exercise since 2010.

This increase is “linked to the good overall performance of the companies, in particular in the field of investment banking”explains the EBA, but also to the movement of certain teams from London to the EU since Brexit.

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Strong recovery in activity

The year 2021 was marked by a strong recovery in activity after 2020, penalized by the health crisis and confinements. French banking groups took the opportunity to sign results never seen in their history.

This is the case of BNP Paribas and Crédit Agricole, which had earned respectively 9.5 and 9.1 billion euros in net profit. Societe Generale followed (5.6 billion euros), the Crédit Mutuel group (4.3 billion) and BPCE (4 billion).

With 371 salaries above 1 million euros, France comes second behind Germany (589) and ahead of Italy (351), among the twenty-seven countries studied.

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The World with AFP

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