At the bottom of this page you will find the remuneration policy for members of the Managing Board and the remuneration policy for employees.
NWB Bank's remuneration policy is consistent with national and international regulations, amongst others the Capital Requirements Directive IV (Directive 2013/36/EU), the Dutch Restrained Remuneration Policy (Financial Supervision Act) Regulation of 2014 (Regeling beheerst beloningsbeleid Wft 2014), the Financial Undertakings (Remuneration Policy) Act (Wet beloningsbeleid financiële ondernemingen) and the EBA Guidelines.
Remuneration policy Managing Board
The remuneration policy for newly appointed members of the Managing Board was last adopted by the Annual General Meeting during an Extraordinary General Meeting held on 14 September 2015. Such policy will be evaluated in the Annual General Meeting in April 2020, prior to which a shareholders committee will be set up.
Remuneration policy employees
As per 1 January 2018, NWB Bank has repealed the variable remuneration (profit sharing and bonus payment) and employees receive a supplement of 10.745% of the salary. This supplement applies since 1 January 2018 to compensate the termination of the variable remuneration as per such date. Termination of the variable remuneration fits the promotional bank character and the social discussion about the desirability of variable remuneration.
The Supervisory Board has approved the remuneration policy for employees; the Remuneration and Appointment Committee reviews the policy every two years.