Bonum Bank's Compensation Programme

The Bank's Board of Directors is responsible for compensation programme and has confirmed the general principles for the compensation programme. The Bank's Board of Directors monitors the compensation programmes and assesses their effectiveness annually.

List of Persons and Disclosure

The Bank discloses information about the following persons:

  1. The Bank's CEO and executive managers reporting to the CEO or persons managing the Bank,
  2. Other person, whose actions has a significant impact on the Bank's risk position,
  3. A person  who works in independent operations of Bank's internal control functions,
  4. Other person, whose total amount of compensation is not significantly different from the persons referred to in sections 1 and 2.

The Bank publishes the compensation details according to the financial statements in the solvency capital adequacy regulation (CRR) required by article 450.

General Requirements for the Compensation Programme

The compensation programme is aligned to the Bank's business strategy, objectives and values and supports the Bank's long-term benefit. The compensation programme is in harmony with the Bank's proper and effective risk management and risk-bearing capacity and promotes it.

The Compensation Committee

The Bank's Board of Directors is responsible for compensation committee assignments set by regulatory requirements.

Compensation of Control Functions personnel

The compensation of control functions pesonnel is independent from the business area being supervised.

Fixed and Variable Compensation

The variable compensation can be at most 20 % of the yearly salary.

Requirements Regarding the Variable Compensation

 

The Bank's variable compensation is subject to the following principles:

The compensation is based on an overall assessment of the compensation beneficiary and the designated business unit performance and on the overall result of the Bank and its business development. When the perfomance is assessed financial and other factors as well as long-term result are considered.

Additionally risks, capital outlay and liquidity at the assessment time are allowed for when determining the compensation amount.

The Bank may decide not to pay any variable compensation either partially or at all in the event the Bank's capital adequacy is less than 13%.