Though there is news that banking giant Santander has revealed lesser profits this year, it has been recently reported that the UK boss of the bank has been given more than £4 million in his pay, along with a figure of bonuses for 2011.

In recent past, there was news that Santander after giving £500 million to cover the cost of mis-selling of PPI, i. e. payment protection insurance following which, the bank authority revealed, is a drop in its total profits for the period.

Santander’s Chief Executive Ms. Ana Botin has received £4.1m including £1.7m for her salary. But, it is also true that the executive and her fellow executive directors have all been denied of any share awards under the bank’s long-term incentive plan.

Reports regarding the famous biggest Spanish-owned lender have confirmed that after putting aside £538m to cover claims, the lender has noted a fall of almost 40%, i. e. £993m in its profits. Still, good news was that Santander’s underlying profits (without any exceptional costs) remained down by 6% to £1.5 billion.

A spokeswoman said: “We improved customer experience with the return of our call centres. We've increased lending to small and medium-sized enterprises by 25 per cent and written one in six new mortgages”.