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There have been no changes in BAMC executive directors’ salaries since April 2015

Since April 2015, when the Bank Assets Management Company implemented changes in its remuneration of its Executive Directors as a consequence of the amended BAMC remuneration policy, there have been no additional changes in this regard. The BAMC remuneration policy regulates the salaries of BAMC’s executive and non-executive directors. This policy does not apply to the earnings of other employees.

BAMC reports to the government about all remuneration subject to the aforementioned policy on a regular basis. This information is also publicized in the annual report. The Government of the Republic of Slovenia granted a discharge to the BAMC Board of Directors. The non-executive directors and the government also have full access to BAMC’s transactions and cash flow information. In addition, BAMC is working closely with the competent institutions, providing them with all relevant information.

With regard to the remuneration of the CEO Torbjörn Månsson, which has become the focus of media attention and which is considered public information, BAMC would like to clarify that his monthly salary was set at 14,126.54 euros as of the implementation of the amended remuneration policy. The increased disbursements recorded in the online application for public information at the expense of registered taxpayers in accordance with the Act on the Access to Information of Public Character (ZDIJZ) are associated with payroll adjustments according to employment contracts for 2014 and 2015 and to settlement of social contributions. As a Swedish national, the CEO is paying his social contributions in Sweden. Because of the differences between the Slovenian and Swedish systems and due to the nature of his social insurance, he is paying these contributions once per year. With regard to salary adjustments relevant to its other employees, BAMC does not disclose these figures regardless of whether they apply to Slovenian nationals or foreign nationals.

The bonuses and additional remuneration of BAMC employees are subject to regulation via internal by-laws, and all BAMC employees, regardless of their country of origin, have signed employment contracts with BAMC. Foreign citizens are paying their dues both in Slovenia and their countries of origin and are not tax residents of the Republic of Slovenia.