Netherlands: bonuses to be banned in bailed out banks

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23 March 2009 à 12h04

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2 minutes

Publication: 23 March 2009 à 12h04

Reading time: 2 minutes

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Publication

23 March 2009 à 12h04

Reading time

2 minutes

Publication: 23 March 2009 à 12h04

Reading time: 2 minutes

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Wouter Bos announced a total ban on bonuses for all groups bailed out by the State. This decision comes after ING decided to grant a welcome bonus to its new financial manager, Patrick Flynn. The largest bank in the Netherlands already stood out in early march, awarding 300-350 million euro in bonuses to its executives, in spite of the losses registered in 2008. (Ref. 090328)

The bank caused a general outrage by awarding its new Irish finance director 100.000 shares of ING, currently worth...

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