Aktia Bank applies a remuneration system with fixed and variable parts. Remuneration for the Executive Committe including the Managing Director comprises the following elements:
- fixed compensation (basic salary)
- benefits in kind (car, phone)
- variable compensation (short-term result- and performance-based bonus system, long-term share-based incentive scheme)
The fixed compensation in the form of a basic salary is a stable starting point for basic functions and the development of these. The aim of the annual bonus payment is to support growth during the financial period as well as short-term changes in operations. The aim of the share-based incentive scheme is to support Aktia's long-term strategy. Aktia's remuneration system is evaluated on a yearly basis and continuously up-dated to comply with company development.
The Managing Director's salary, other forms of remuneration and terms of employment are established by the Group's Board of Directors. The Remuneration and Corporate Governance Committee of the Board establishes terms of employment for other members of the Executive Committee. The Group's Board of Directors decides on other remuneration systems, such as bonus systems and share-based incentive schemes. The Boards Remuneration and Corporate Governance Committee prepares matters related to remuneration.