UniCredit Chief Executive Andrea Orcel's pay package rose by almost a third last year to 13.2 million euros ($13.8 million) including a one-off share award, the Italian bank said in documents published on its website late on Tuesday.

UniCredit SpA increased Chief Executive Officer Andrea Orcel’s pay by one third, further cementing his status as one of Europe’s best-paid bankers after he led the Italian bank to a record year.

The increase in salary for UniCredit SpA's chief executive officer, Andrea Orcel, further enhances his status as one of Europe's best paid bankers.View on euronews

Germany's Federal Cartel Office is reviewing plans by major Italian bank UniCredit to expand its stake in German lender Commerzbank, a spokesman said on Wednesday, after UniCredit registered the acquisition of a stake of up to 29.

UniCredit has asked German antitrust authorities to approve its move to take a substantial stake in Commerzbank, another key hurdle for the Italian bank to overcome as it pursues a possible takeover of the German lender.