Netherlands delays ABN Amro sale
Print Edition
DUTCH Finance Minister Jeroen Dijsselbloem said yesterday he was delaying a decision to sell state-owned bank ABN Amro following much-criticized reports about huge pay raises for the bank’s top management.
“As you are aware, Cabinet aimed to decide on ABN Amro’s sale in the first quarter of 2015,” Dijsselbloem, who is also the Eurogroup chairman, said in a letter to the Dutch parliament.
“This week I received a report from the (parliament’s) Finance Committee on questions over pay hikes at ABN Amro. In light of this, I am postponing the decision on its sale,” Dijsselbloem said in the letter, published on the parliament’s website.
The government last week slammed huge pay raises for senior bankers to offset a 2012 law curbing bonuses, with Dijsselbloem calling it “the wrong signal” while ordinary citizens are still hit by austerity.
“For me and many others it sticks in the throat,” he said after reports that the country’s largest banks including ABN Amro and ING have given top managers huge pay hikes.
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