ABN Amro to Pay $17 Million Fine for Breaching Bonus Ban

By Elena Vardon

ABN Amro said it agreed to pay a 15 million-euro ($17.2 million) fine to the Dutch Central Bank for violating a ban on bonuses that was put in place after the global financial crisis.

The ban prohibited lenders receiving state support from paying out bonuses to its board members or management directly below this level whose decisions influence a bank's risk profile.

ABN Amro was bailed out in 2008 at the height of the crisis by the Dutch government, which still owns around a third of the group

The prohibition on bonuses to its executive board has been in place since 2012 and expanded to the second management layer in 2015.

The central bank found that ABN Amro wrongly failed to apply the ban to seven positions in the second management layer between 2016 and 2024, ABN Amro said Thursday.

"Although ABN Amro interpreted and applied this legislation in good faith, the bank acknowledges that its viewpoint was incorrect," it said.

ABN Amro said it regretted the breach and accepted the fine.

Write to Elena Vardon at [e-mail]

(END) Dow Jones Newswires

06-19-25 0332ET