THE HAGUE (Reuters) – An IPO of ABN AMRO by the end of this year is still possible. Prime Minister Mark Rutte said Thursday after the weekly cabinet meeting. ,, This year is a very long time, so it seems quite possible, ” Rutte said.
The government had last week will take a decision on the IPO of the nationalized bank in 2008, but that decision was delayed by Finance Minister Jeroen Dijsselbloem. Reason was the turmoil around salary increases at ABN AMRO
Rutte -. Which had not previously ruled on the issue – joined Thursday by Dijsselbloem. ,, There was a climate of unrest around ABN and there were the necessary parliamentary questions, ” says Rutte. He called the delay a wise decision ,, ” of Dijsselbloem. The salary increases at ABN he called ,, socially unwise ”.
Dijsselbloem
Dijsselbloem came this week under fire from the opposition in parliament, but Rutte went right for stand him. ,, I do not know in this case where I Jeroen Dijsselbloem blame should make. ” Rutte also expressed confidence in ABN CEO Gerrit Zalm and the supervisory board. ,, The confidence of the cabinet in the top of the bank is undiminished. ”
Rutte explained as Dijsselbloem that the salary increase for six top executives at ABN was legally in order. The state had the sole shareholder in ABN no ability to block this, says Rutte. Legally allowed, but Dijsselbloem has said that it was not wise because of the social climate.
Also, the Prime Minister said that it does not make much sense to join the issue of bankers. According to him, banks perform a key role in society. They are responsible for over 90 percent of lending, which Rutte too many find themselves, and they have a crucial role in the payment system. These are complex, specialized tasks where good people are needed. Their salaries are adjusted accordingly, stressed the Prime Minister.
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