ANZ chief executive Shayne Elliott was paid $4.26 million during his first full year at the helm of the bank.
The bank's annual report showed Mr Elliott, who was chief financial officer before stepping into the top job in January, 2016, missed out on another $1.9 million because the bank did not meet performance hurdles set for executive rights awarded in 2013 and due in 2016/17.
ANZ slashed its dividend in 2016 after cash profit dropped to a six-year low.
In 2016/17, ANZ lifted its full-year cash profit by 18 per cent to $6.94 billion and said it could give cash back to shareholders in the form of a buyback as it continues to divest assets.
Mr Elliott received a fixed salary of $2.1 million in 2016/17, plus $1 million in cash incentives, for a total of $3.1 million in cash.
Deferred incentives vesting during the year added another $1.16 million to his pay packet, bringing the total take-home pay to $4.26 million.
As well as the $1 million in cash that Mr Elliott received as part of his at-risk pay, Mr Elliott was also awarded $1 million in deferred shares and $2.1 million in performance rights, the latter of which is subject to shareholder approval at the 2017 annual general meeting.
Ib a total pay basis, Mr Elliott was awarded a total of $6.2 million for 2016/17 when adding the fixed pay of $2.1 million and the variable pay of $4.1 million, however he receives the benefits of the deferred shares over four years, while performance rights remain subject to assessment over three years.
ANZ shares were 15 cents, or 0.5 per cent, lower at $29.75 on Monday.
