FRANKFURT Feb 13 Commerzbank Chief
Executive Martin Blessing will voluntarily waive his 2013 bonus
payment because the bank, despite swinging to a profit from a
loss, didn't earn enough to justify it, Blessing said on
"If there is no profit then I don't think it's right,
independent of whether the goals were reached, for the CEO to
receive a variable component," Blessing told journalists.
Although the bank earned a small profit in 2013, it wasn't
enough for him to justify receiving a bonus, he said. Blessing
last received a bonus in 2007.
Blessing said he would have considered accepting a bonus if
the net result of the group were over 100 million euros ($135.88
million)for the year.
Commerzbank posted a 78 million euro net profit for 2013
after a 47 million euro loss last year.
($1 = 0.7359 euros)
(Reporting by Thomas Atkins)