NAB boss' s pay rises to $8.8m

National Australia Bank chief executive Cameron Clyne has received a small pay rise to $8.8 million.

But Mr Clyne remains the third-highest paid of Australia's bank bosses, behind ANZ's Mike Smith and Westpac's Gail Kelly.

NAB's annual report, released on Monday, showed Mr Clyne was paid a cash salary of $2.4 million in the year to September 30, and $1.215 million in cash in short-term incentives.

He also received $3.2 million worth of shares awarded in previous years as part of short-term and long-term incentive programs, plus $1.9 million in options or rights to further shares.

In the 2010/11 year Mr Clyne's remuneration totalled $8.68 million.

ANZ chief executive Mike Smith was paid $9.7 million in the 2011/12 fiscal year, based on the statutory reporting of executive pay.

Westpac chief Gail Kelly was paid $9.6 million.

Commonwealth Bank boss Ian Narev, the most recently appointed of the big four banks' chief executives, was paid $5.7 million in the 2011/12 financial year.

NAB's annual report showed pay for other senior executives at the bank was relatively steady from the previous year.

That was amid a 22 per cent profit drop for NAB in 2011/12, due mainly to losses from its businesses in the United Kingdom.

Executive director of finance Mark Joiner was the second-highest paid executive, at $3.68 million.

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