ING Bank Śląski | Annual Report 2014

ING BANK ŚLĄSKI

ING BANK ŚLĄSKIAnnual Report 2014

Financial results
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47. Transactions with the management staff and employees

Loans to employees and Bank management

Employees of the ING Bank Śląski S.A. Group are granted loans on the same terms and conditions as the customers of the Bank (no preferential loans for employees exist). Loans for employees disclosed in the amount of loans for customers as of 31.12.2014 amounted to PLN 146.3 million excluding loans from the Internal Social Benefits Fund.

As at 31.12.2013, their value amounted to PLN 137.2 million.

Granting of a loan, cash advance, bank guarantee and surety for the Bank’s senior  management group is regulated in a separate procedure and monitored in accordance with the Ordinance of the President of ING Bank Śląski S.A.

The financial statements for 2014 contain loans, cash advances, bank guarantees and sureties for the Bank’s senior management group (within the meaning of Article 79 of the Banking Law) amounting to PLN 33.7 million. As at 31.12.2013, their value amounted to PLN 33.9 million.

Internal Social Benefit Funds

The employees may use various forms of social assistance within the framework of Internal Social Benefit Funds established in the entities of the Group. The balance of money advances granted from the Internal Social Benefit Funds as of 31.12.2014 amounts to PLN 8.2 million versus PLN 9.3 million as at 31.12.2013.

The balance of the Internal Social Benefits Fund as at 31.12.2014 was PLN 3.2 million versus PLN 3.1 million as at 31.12.2013.                                     

Remuneration to the Members of the Management Board (in PLN million)

As at the end of 2014, the composition of ING Bank Śląski S.A. Management Board was as follows:

  • Ms Małgorzata Kołakowska - Bank Management Board President,
  • Mr Mirosław Boda - Bank Management Board Vice-President,
  • Mr Michał Bolesławski - Bank Management Board Vice-President,
  • Ms Joanna Erdman - Bank Management Board Vice-President,
  • Ms Justyna Kesler - Bank Management Board Vice-President,
  • Mr Oscar Swan - Bank Management Board Vice-President,
  • Mr Ignacio Juliá Vilar - Bank Management Board Vice-President.
Emoluments of Members of ING Bank Śląski S.A. Management Board (PLN million)
  2014 2013
Short-term employee benefits, in which: 10.6 10.3
- remuneration 8.6 8.1
- benefits 2.0 2.2
TOTAL 10.6 10.3

Short-term employee benefits comprise: base remuneration, insurance, mutual fund contributions, medical care and other benefits awarded by the Supervisory Board.

Long-term employee benefits comprise ING Group long-term incentive system benefits. In 2014, they amounted to PLN 1.5 million compared with PLN 1.1 million in 2013.

Emoluments of Members of ING Bank Śląski S.A. Management Board under the Variable Remuneration Programme (PLN million)
  2014 2013
  Short-term benefits Long-term benefits Short-term benefits Long-term benefits
Cash payments 2.5 1.6 2.1 1.4
Phantom stock 2.5 1.7 2.1 1.4
TOTAL 5.0 3.3 4.2 2.8

Short-term benefits comprise the benefits under the Variable Remuneration Programme – the non-deferred part.

Long-term benefits comprise the benefits under the Variable Remuneration Programme – the deferred part.

Emoluments of Members of the ING Bank Śląski S.A. Management Board for 2014 under the Variable Remuneration Programme have not yet been awarded.

Under the remuneration system in place at the Bank, the Bank Management Board Members may be entitled to the 2014 bonus, some part of it will be paid out in 2015, and some part will be deferred for the upcoming years (2016-2019). The maximum amount of the bonus for 2014 that may materialise, for which a reserve was established, arrives at PLN 8.3 million, including cash pay-out in 2015 of PLN 2.5 million, and for the deferred part of the bonus PLN 5.8 million.

The Bank Supervisory Board will take the final decision on the bonus amount. 

As at 31 December 2013, the reserve for the cash payment under the bonus for the Bank Management Board Members was PLN 7.0 million. The bonus for 2013 approved in 2014 by the Bank Supervisory Board was PLN 7.6 million.

In the years ended 31 December 2014 and 31 December 2013, there were no post-employment benefits paid out to the Bank Management Board Members.

The members of the Management Board have signed non-competition agreements after they stop holding their function on the Bank’s Management Board. In the event that a Management Board is not renominated for another term of office or is recalled from his/ her function, he or she is entitled to severance pay. Information on allowances owing to the Management Board Members is contained in their employment contracts and shall be paid only in case of termination of the employment contract by the Bank due to other reasons than those giving rise to termination without notice.

Remuneration paid to the Members of the Supervisory Board of ING Bank Śląski S.A. (in PLN million)

As at the end of 2014, the Supervisory Board of ING Bank Śląski S.A. worked in the following composition:

  • Mr Antoni Reczek - Chair, 
  • Mr Brunon Bartkiewicz - Deputy Chair,
  • Mr Aleksander Galos - Secretary, 
  • Mr Roland Boekhout - Member,
  • Mr Nicolaas Cornelis Jue - Member, 
  • Mr Adrianus Johannes Antonius Kas - Member,
  • Mr Aleksander Kutela - Member.
Emoluments of Members of ING Bank Śląski S.A. Supervisory Board (PLN million)
  2014 2013
Short-term employee benefits, in which: 0.5 0.5
- remuneration 0.5 0.5
TOTAL 0.5 0.5

The Management Board Members and other persons employed by ING Bank Śląski S.A. do not receive any remuneration for performing functions in the governing bodies of subsidiaries and associates of the ING Bank Śląski S.A. Group.

Volume of ING Bank Śląski shares held by Bank Management Board and Supervisory Board Members

As at 31 December 2014, neither Management Board nor Supervisory Board members held shares of ING Bank Śląski S.A., similarly as at the date of rendering the annual consolidated financial statements for 2013 into the public domain.

 

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