American Bank of Investments remuneration policy complies with all local regulatory requirements. The aim of this policy is to reconcile the demands of an ever increasing competitive market with the legitimate expectations of the Bank, staff and customers, in order to allow the Bank to go as far as possible with its aspirations, and to continue to embody the values of fairness, humanity and merit, which have helped to build its success and reputation. It is the Bank’s policy to compensate all employees on a fair and equitable basis for the work that they perform based on a system of setting objectives and individual performance appraisal.
The remuneration components include the following:
- The Basic Salary rewards the skills of the staff that are necessary for the performance of duties linked to the posts entrusted to them. A post is characterized by a role and contributions, a level within the organization and an expected profile in terms of skills and experience.
- Variable Remuneration rewards an employee’s performance, and constitutes an integral part of their annual remuneration. It is designed to compensate employees in accordance with the objectives established for the year, their individual performance in that year, and the Bank’s overall performance. The variability in those factors permits the possibility of nonpayment of annual remuneration, especially in the event of unsatisfactory performance.
- The remuneration of the members of Board of Directors and the Audit Committee is defined as a fixed annual fee. For the years 2020 and 2021, this reward was in total 50,767 Euros and 50,006 Euros, respectively.
- The remuneration of the Executive Directors consists of the salary and the annual bonus which is determined based on individual performance according to the Bank’s remuneration policies and procedures. The annual bonus is not guaranteed. Respectively, for the years 2020 and 2021, their remuneration in total was 666,347 Euros and 735,672 Euros.