Part-nationalised Royal Bank of Scotland has revealed it paid €432 million to 323 staff last year in a move set to fuel further anger over bank pay.

The hefty payout means 323 of its bankers – those deemed to be in risk-sensitive roles, known as “code staff” – earned an average of €1.4 million each in 2010.

RBS, which is 83 per cent-owned by the taxpayer, also said its highest-paid senior executives outside board level were paid a total of €24 million last year – with two earning €6.8 million each.

The disclosures were made in line with new EU rules and follow the sector’s so-called Project Merlin deal with the government to rein in pay and boost business lending.

RBS has already sparked controversy after it emerged last week that chief executive Stephen Hester was awarded an extra shares bonus worth up to €5.2 million – taking his total potential package for 2010 to €8.9 million.

The vast majority of the €432 million paid to code staff last year was made within the bank’s investment banking team, accounting for €295 million.

The bank revealed 93 code staff were senior managers. RBS’s pay details are significantly below the €2.8 million average paid to 231 code staff at Barclays, who were paid a combined €637 million last year.

But the figure is slightly higher than that at HSBC, which said it paid 280 an average of just over €1 million.