BNP Paribas Cut 2020 Bonus Pool After ECB Pushed for Moderation
- BNP’s bonus amount declines after mixed performance last year
- Regulator putting pressure on lenders to exercise restraint
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BNP Paribas SA shrank the 2020 bonus pool after the European Central Bank objected to its original plans, making it at least the second large lender in the region to be forced to adjust staff payouts.
The regulator asked the French bank to reduce the overall amount awarded to employees, leaving it to decide on individual situations, people familiar with the matter said, asking not to be named because the policy is private. They didn’t specify by how much payouts will decline.