Bloomberg News

BNP Paribas Plans ‘Significant Drop’ in Bonuses, Prot Says

January 06, 2012

Jan. 6 (Bloomberg) -- BNP Paribas SA plans a “significant drop” in bonuses for top executives and capital-markets staff, Chairman Baudouin Prot said.

Prot, who made the comment in an interview on BFM radio today, didn’t give any estimate for the decline in bonuses. Prot also said he will have an annual salary of 850,000 euros as chairman compared with 950,000 euros as chief executive officer, a position he held until last year. Prot said his own bonus for last year will have a “significant” reduction.

Prot reiterated that BNP Paribas will meet the European Union’s June 2012 capital requirements as the bank has a “very solid” capital position and will pay a dividend for last year.

To contact the editor responsible for this story: Fabio Benedetti-Valentini at fabiobv@bloomberg.net


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