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Bendigo execs miss out on bonus again

11 September 2012 4:56PM
For the second time in four years the most senior executives of Bendigo and Adelaide Bank received no short-term bonus.On the other hand, all of the executive team received increases in their base rate of pay in the 2012 financial year. Top brass at the bank were last paid a full bonus in 2008, the year the then Bendigo Bank took control of Adelaide Bank.In 2009, the bank paid no bonus. In 2010, around half the short-term bonus was paid to senior staff. In 2011, the CEO, CFO and the bank's head of retail all received their short-term bonus in full, while their colleagues received only partial bonuses.Net profit for Bendigo fell 43 per cent to A$195 million in the year to June 2012. Cash earnings fell four per cent to $323 million.

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