Co-operative Bank chief executive Niall Booker is to receive a total £2.9 million pay package for the financial year 2013 and could receive a further £1.2 million dependent on the bank's future performance.
On the publishing of the results, Mr Booker said the new management had succeeded in keeping "the bank alive".
Co-operative Bank chief executive Niall Booker said today's belated 2013 annual results "reflect the magnitude of the issues that have come to light" since he took charge of the troubled bank ten months ago.
However, he said he said "initial progress on our business plan is encouraging and we remain enthusiastic about the long term potential for the Bank".
"The level of change required in improvement in processes, systems and culture is significant," he said.
"We are determined to rebuild trust in the Bank after the events of last year and reward the loyalty our customers and shareholders have shown us."
The Co-Operative Bank has announced it will not pay £5 million in deferred payments to former bosses following its £1.3 billion loss in the 2013 financial year.
The Co-operative Bank has reported an annual loss of £1.3 billion for the 2013 financial year.
The Co-op group was plunged into fresh difficulties on Thursday, offering members a vote on its future after the resignation of senior independent director Lord Myners.