EBA raises ‘significant concerns’ over bonus culture at European banks

canary-wharf-skyline-2-london-uk-oct-2012
The EBA is based at London's Canary Wharf

The European Banking Authority (EBA) raised "significant concerns" over the way some European banks are setting bonuses, in a report on high pay published on September 7.

The report found that only around half of a sample of 92 banks set bonuses for their material risk-takers that were "strongly linked" to net profit. At 17 institutions there seemed not to be any correlation, while for another 33 there was only "some" correlation.

"This raises significant concerns," the EBA said. The report

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