De Nederlandsche Bank imposed a EUR 15 million fine on ABN AMRO Bank N.V. for non-compliance with the statutory bonus ban that applies to banks receiving Dutch state aid. The breach relates to bonuses awarded to second-tier management despite the prohibition. The bonus ban was introduced in 2012 for Executive Board members and extended in 2015 to second-tier management officials whose activities could materially affect an institution’s risk profile. DNB found that ABN AMRO awarded and paid bonuses to officials in seven second-tier management positions between 2016 and 2024, with total awarded bonuses exceeding EUR 1.5 million. The review also identified one official receiving fixed salary increases of 11.4% and 28.8% in two consecutive years, exceeding the collective wage increases of 1.5% and 2.5% for those years; DNB also noted that ABN AMRO initially halted payments after supervisory intervention but later resumed paying out bonuses and awarded a new tranche. ABN AMRO has since confirmed it has changed its application of the ban and no longer pays bonuses to second-tier management officials. ABN AMRO has six weeks from receipt of the decision to lodge an objection, with further appeal avenues available if an objection decision is contested.
De Nederlandsche Bank 2025-06-19
De Nederlandsche Bank imposes EUR 15 million fine on ABN AMRO for breaching the state-aid bonus ban
De Nederlandsche Bank fined ABN AMRO Bank N.V. EUR 15 million for violating the statutory bonus ban applicable to banks receiving Dutch state aid. The breach involved bonuses awarded to second-tier management from 2016 to 2024, totaling over EUR 1.5 million, despite the prohibition. ABN AMRO has since ceased paying bonuses to these officials following supervisory intervention.