Six managing directors at the Dutch bank ABN Amro have renounced a $109,000 bonus after a 'public commotion', the bank says.
BBC News reports that ABN Amro said the outcry over the allowance, which was partly to compensate for tougher laws on bankers' bonuses, was 'detrimental' to clients, employees and public trust.
'We understand and regret the turbulence that has arisen', it said.
The statement from the bank continued: 'Now that our remuneration is the subject of discussion and threatens to affect the future of ABN Amro, we are putting the interests of the bank and the public first - as we always do - and have decided to renounce the allowance'.
To access the complete BBC News article hit the link below:
ABN Amro executives renounce €100,000 bonus
Pension data 'sales' investigated by watchdog