07:17 ET<\/span>
\n<\/span><\/p>\nJan Hommen, chief executive of Dutch bank ING, has said he will forgo his 1.25m euros (\u00a31m) bonus and told other managers to do likewise.<\/p>\n
The decision follows a public outcry and threats of a customer boycott of the bailed-out bank.<\/p>\n
His bonus for 2010 was on top of a 1.35m-euro salary.<\/p>\n
Mr Hommen said ING had underestimated the negative public reaction, adding that he did not want to hurt the bank’s image.<\/p>\n
News of the bonus plan sparked an outcry among Dutch MPs, trade unions and bank customers, especially after it emerged that ING staff pensions were being frozen for a second year running.<\/p>\n
Mr Hommen said in a statement: “I am very sorry to note that the performance-related bonuses for the board over 2010 threaten to damage the recovering confidence from customers and the general public.”<\/p>\n
He and the ING board of directors “had underestimated the signal” that these bonuses would give society at large.<\/p>\n
ING received a 10bn-euro bail-out during the financial crisis. It has repaid half the money, and says it will pay back the rest within two years.<\/p>\n
Mr Hommen said he will now be eligible for a bonus only once the remaining 5bn euros in state aid has been repaid.<\/p>\n
The Dutch government is planning to stop banks which have had state aid from paying bonuses to senior staff until the debt has been cleared. <\/p>\n
In February, ING reported a 2010 net profit of 3.22bn euros, reversing a 935m-euro loss in 2009.<\/p>\n<\/p><\/div>\n<\/p>\n
Read more:
\nBank chief agrees to waive bonus<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" 22 March 2011 Last updated at 07:17 ET Jan Hommen, chief executive of Dutch bank ING, has said he will forgo his 1.25m euros (\u00a31m) bonus and told other managers to do likewise. The decision follows a public outcry and threats of a customer boycott of the bailed-out bank. His bonus for 2010 was on top of a 1.35m-euro salary<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-328990","post","type-post","status-publish","format-standard"],"yoast_head":"\n
Bank chief agrees to waive bonus - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/03\/22\/bank-chief-agrees-to-waive-bonus\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Bank chief agrees to waive bonus - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"22 March 2011 Last updated at 07:17 ET Jan Hommen, chief executive of Dutch bank ING, has said he will forgo his 1.25m euros (\u00a31m) bonus and told other managers to do likewise. The decision follows a public outcry and threats of a customer boycott of the bailed-out bank. His bonus for 2010 was on top of a 1.35m-euro salary\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/03\/22\/bank-chief-agrees-to-waive-bonus\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/03\/22\/bank-chief-agrees-to-waive-bonus\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Bank chief agrees to waive bonus\",\"datePublished\":\"2011-03-22T11:17:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/03\/22\/bank-chief-agrees-to-waive-bonus\/\"},\"wordCount\":264,\"commentCount\":0,\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/03\/22\/bank-chief-agrees-to-waive-bonus\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/03\/22\/bank-chief-agrees-to-waive-bonus\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/03\/22\/bank-chief-agrees-to-waive-bonus\/\",\"name\":\"Bank chief agrees to waive bonus - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\"},\"datePublished\":\"2011-03-22T11:17:43+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/03\/22\/bank-chief-agrees-to-waive-bonus\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bank chief agrees to waive bonus - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/03\/22\/bank-chief-agrees-to-waive-bonus\/","twitter_card":"summary_large_image","twitter_title":"Bank chief agrees to waive bonus - Ghanamma.com","twitter_description":"22 March 2011 Last updated at 07:17 ET Jan Hommen, chief executive of Dutch bank ING, has said he will forgo his 1.25m euros (\u00a31m) bonus and told other managers to do likewise. The decision follows a public outcry and threats of a customer boycott of the bailed-out bank. His bonus for 2010 was on top of a 1.35m-euro salary","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2011\/03\/22\/bank-chief-agrees-to-waive-bonus\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2011\/03\/22\/bank-chief-agrees-to-waive-bonus\/"},"author":{"name":"","@id":""},"headline":"Bank chief agrees to waive bonus","datePublished":"2011-03-22T11:17:43+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2011\/03\/22\/bank-chief-agrees-to-waive-bonus\/"},"wordCount":264,"commentCount":0,"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2011\/03\/22\/bank-chief-agrees-to-waive-bonus\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2011\/03\/22\/bank-chief-agrees-to-waive-bonus\/","url":"https:\/\/www.ghanamma.com\/2011\/03\/22\/bank-chief-agrees-to-waive-bonus\/","name":"Bank chief agrees to waive bonus - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2011\/#website"},"datePublished":"2011-03-22T11:17:43+00:00","author":{"@id":""},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2011\/03\/22\/bank-chief-agrees-to-waive-bonus\/"]}]},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2011\/#website","url":"https:\/\/www.ghanamma.com\/2011\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/328990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/comments?post=328990"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/328990\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/media?parent=328990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/categories?post=328990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/tags?post=328990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}