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Here are the 11 European countries with the most bankers earning over €1 millionhttps://www.businessinsider.in/here-are-the-11-european-countries-with-the-most-bankers-earning-over-1-million/11-norway-21-bankers-earning-more-than-1-million-norway-has-few-high-paid-bankers-but-one-of-the-safest-financial-industries-in-the-world-after-a-crisis-in-1991-sparked-tough-reforms-/slidelist/49407297.cms2021-07-26T12:47:47+05:30

Here are the 11 European countries with the most bankers earning over €1 million

Jul 26, 2021, 12:47 IST

11. Norway – 21 bankers earning more than €1 million. Norway has few high-paid bankers but one of the safest financial industries in the world after a crisis in 1991 sparked tough reforms.

10. Denmark – 30 bankers earning more than €1 million. The Danish banking sector is heavily weighted towards mortgage lending rather than investment banking.

9. Austria – 32 bankers earning more than €1 million. Austrian banks are exposed to struggling economies in central and eastern Europe.

8. Netherlands – 32 bankers earning more than €1 million. Dutch banks have shrunk their investment banking arms by about 20% since since the financial crisis according to a study by KPMG.

7. Ireland – 40 bankers earning more than €1 million. Ireland's government was forced to nationalise lenders Anglo-Irish and AIB after the financial crisis at a cost of around €63 billion ($72 billion).

6. Sweden – 47 bankers earning more than €1 million. Sweden's banking sector is small but one of the most highly-capitalised in the world, which should see it through any financial turbulence without needing a bailout.

5. Spain – 133 bankers earning more than €1 million. Spain is recovering from one of the biggest economic and financial crises in its history, with profits growing in the sector after a €41 billion (£30 billion) aid package in 2012.

4. Italy – 138 bankers earning more than €1 million. Italy has a fragmented banking sector. Its 650 banks have about €186 billion ($201.7 billion) in non-performing loans according to data released by its central bank. But it hasn't stopped high pay.

3. France – 162 bankers bankers earning more than €1 million. French banks were on the verge of collapse when the Greek debt crisis hit, with $14.9 billion (£9.7 billion) of exposures to the country. That was reduced to $20 million (£13 million) by the end of 2014.

2. Germany – 417 bankers earning more than €1 million. Germany's investment banking sector is dominated by Deutsche Bank, which is trying to boost profitability through cost-cutting measures. The bank said it expects a third quarter loss of €6.2 billion ($6.96 billion).

1. Britain – 2086 bankers earning more than €1 million. Despite benchmark manipulation scandals and a financial crisis, London still rules as the investment banking hub for Europe, putting the UK right at the top of the list.

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