Among publicly-listed Philippine banks, top executives of UnionBank of the Philippines (UBP) received the highest salary and bonuses in 2009, while top executives of Banco de Oro (BDO) and Bank of the Philippine Islands (BPI) follow next.
This is based on an analysis of annual reports for the year 2009 submitted by local banks to the Philippine Stock Exchange (PSE). The reports do not show the individual salaries and bonuses of each executive, but presents the lumped compensation of the banks’ top officials. The number of executives receiving the compensation was shown, thus, the average figure was derived.
UnionBank’s top 5 execs each receive P21.28 million compensation
An analysis of executive compensation shows that on average, the salary of the top 5 officers of UnionBank of the Philippines (UBP) was P17.03 million each, plus additional compensation and bonuses of P4.3 million each — for a total of P21.28 million compensation for each of the top 5 executives in 2009.