- AMSTERDAM: Jan Hommen, the chief executive of ING Groep NV, says he will voluntarily give up the 1.25 million euro ($1.78 million) bonus he had been awarded for 2010 and other managers will do the same.
Hommen’s planned bonus, which was to add to a 1.35 million euro salary, conforms to revamped compensation guidelines, but news of the payout was greeted with public outrage and customers threatened a boycott.
Hommen said ING underestimated the negative public reaction, adding that he didn’t want to hurt the bank’s improving image.
ING has paid back half of the 10 billion euros in state aid it received in 2008, and plans to repay the rest in the coming two years.
In February, ING reported 2010 net profit of €3.22 billion, from a loss of 935 million euros in 2009.