ING chairman regrets 2008 bonuses

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The chairman of the board of banking and insurance group ING, Jan Hommen, says he would have preferred not to award any bonuses for 2008.

THE NETHERLANDS - He denies reports that bonuses worth 950 million euros will be awarded for 2008.

He says just 300 million euros will be awarded over and above the extras to be paid under existing pay and conditions deals.

Finance Minister Wouter Bos has condemned the bonuses being paid to ING staff for 2008, the first year the bank made losses.

ING received a cash injection of 10 billion euros from the government in November.

Bos agreed in January that the company's senior executives would receive no bonuses for 2008.

Radio Netherlands / Expatica

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