Craig Donaldson, chief executive of Metro Bank has seen his annual pay packet reduced as a result of the loans blunder.
In 2018 Donaldson was only paid £800,000 compared to £1.5 the previous year. In January shares in Metro Bank dropped to a record low after, the Bank of England found an accounting error.
In February, Metro Bank shares fell 20% as the bank unveiled plans to raise £350m from investors.
Donaldson will see his salary remain at £750,000 next year and Vernon Hill the Bank’s chairman salary will remain at £385,000.