SNS Reaal was ordered to recover ‘golden handshake’ by ministry

The finance ministry this spring ordered SNS Reaal to recover part of the money paid to former director Ronald Latenstein when he left, the Financieele Dagblad said on Monday.

Latenstein was given €250,000 – or six months salary – when he left the bank in February when it was nationalised, the FD says. It bases its claim on research by the paper’s journalists.

The finance ministry only heard about the payment after finance minister Jeroen Dijsselbloem had assured parliament the SNS directors who quit after the bank was taken over by the state were not given a cent.

According to Nos television, SNS says the money was paid back. The finance ministry has not yet commented.

The bank’s supervisory board said there was no question of the money being a golden handshake but part of his contract, the FD said.

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