Spanish Bank BBVA To Freeze Executive Pay In 2009

The freeze, which applies to both fixed and variable payments, will affect 300 people at the bank.

In a statement, BBVA said it would propose the salary freeze at its shareholders meeting on March 13.

The freeze, which applies to both fixed and variable payments, will affect 300 people at the bank.

"This is another prudent measure taken by the bank amid the new financial and economic climate," BBVA said.