State-owned ABN Amro bank must pay 10 senior bankers golden handshake deals agreed before the bank was nationalised Arnhem district court ruled on Tuesday.

The 10 were among a number of staff described as ‘key talents’ before the credit crisis, when the bank was at the centre of a takeover battle. The aim was to keep the bankers at ABN Amro throughout the upheaval.
But later, post crisis and nationalisation, ABN Amro amended its golden handshake rules – a move which would have cost the 10 up to €1.2mln on their severance packages.
The court said the bank must pay in line with the original agreement. ‘The fact that there is unrest in society about bankers pay does not make it alright for ABN Amro to one-sidedly alter an agreement,’ the court said.
The deal will give one senior manager a €6.2mln pay-off, the Volkskrant says.