The Snout/Trough Index 2008

A couple of weeks ago I was reluctantly compelled to point out that NAB’s 2008 Financial Report contained a 19 page remuneration report, which constituted a massive 63% of the Directors’ Report.

I now see that ANZ has put them to shame – the 2008 Annual Report includes a whopping 22 page remuneration report.  This makes up 85% of the total Directors’ Report.  That’s right – they spend 22 pages talking executive pay and 4 pages talking about everything else.

That’s what I call getting your priorities right.

For the sake of completeness, here’s the 2008 Snout/Trough Index:

Bank	Remuneration Report pages	Remun Rpt as % of Directors’ Rpt
ANZ	22	85
CBA	20	74
NAB	19	63
WBC	17	68