The CEO of Bank of Queensland received a pay rise to $2.9m as the bank returned to profitability. Source: AAP
BANK of Queensland chief executive Stuart Grimshaw's pay grew by 60 per cent to $2.9 million as the bank returned to profitability.
Mr Grimshaw's base salary, bonuses and post-employment benefits rose in the bank's 2012/13 fiscal year, lifting his pay from $1.8 million in the 2011/12 year.
Mr Grimshaw was chief executive for 10 months of the 2011/12 year.
Bank of Queensland made a loss of $17 million in 2011/12, due to its exposure to the weakening Queensland property market.
But it bounced back in 2012/13 to post a profit of $186 million, due in part to stricter lending practices.
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