Former UBS executives have paid back or forfeited bonuses amounting to almost SFr70m ($58m) as banks across the globe come under pressure to limit executive compensation after being bailed out by taxpayers.

Peter Kurer, chairman, told shareholders at a special meeting to approve a SFr6bn government bail-out that the Swiss bank had received an extra SFr22m in bonus waivers or repayments since the initial disclosures of SFr45m revealed this month.