„A bonus for silence”. The head of the National Bank of Poland has a larger budget for awards

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The President of the National Bank of Poland, Adam Glapiński, now has a budget that is nearly PLN 13 million larger for bonuses, which he exclusively decides upon – reported money.pl on Friday. Some of the portal’s sources suggest that this may serve as a financial reward for the most dedicated colleagues. Others refer to it as a “bonus for discretion.”

„Last year, Adam Glapiński altered the resolution with the help of the NBP management board, which led to an increase in the reward fund that is under his direct control. This fund operates separately from a similar one managed by the bank’s directors for employee rewards. The amendment took effect at the start of this year,” money.pl indicated on Friday.

The portal noted that the directors’ fund was larger, amounting to 3% of the payroll fund, while the fund available to the president constituted 2% of the same total. In August of the previous year, the bank’s management board amended the remuneration principles, including aspects related to bonuses.

„In percentage terms, the adjustment appears minimal – merely a rise from 2% to 3%. However – as noted by our sources within the bank – the overall amount allocated for salary costs in this year’s NBP financial plan has increased considerably. This percentage is what the prize fund is based upon. Accordingly, the execution for 2023 has reached over PLN 775 million, compared to approximately PLN 866 million last year, with the current year’s plan estimating around PLN 984 million,” informs money.pl.

As reported, as a consequence of these adjustments, the prize fund that Adam Glapiński can directly access has surged from PLN 17.3 million to nearly PLN 30 million.

The central bank did not respond to money.pl’s inquiry regarding the NBP budget, its various components, and the prize fund.

What are these awards for?

As assessed by one of the portal’s sources, the increase in the bonus fund „appears to be an effort to reward the most loyal employees during challenging times.”

Another source suggested that for certain NBP employees, this might serve as a „bonus for discretion.” – Employees of the NBP, including those close to Adam Glapiński, may be called to testify before a parliamentary committee regarding constitutional accountability, which aims to bring the NBP president before the State Tribunal. Such bonuses could enhance their loyalty to the president and discourage cooperation with parliament members . These rewards could potentially cover any fines imposed for failing to testify, likely with interest – he informed money.pl.

The portal also highlights additional budget-related concerns.

„One management board member, in a letter to the NBP authorities, pointed out the substantial increase in the bank’s operating costs – rising from PLN 1.7 billion in 2024 to over PLN 2.1 billion projected for 2025. Specific concerns were raised regarding items such as administrative expenses (growing from approximately PLN 444 million to around PLN 575 million) or external service costs (increasing from about PLN 330 million to approximately PLN 463 million). There are also doubts regarding the item related to consulting services (a 422% rise) or expenditures on scientific research and analysis (an almost 160% increase),” it was noted.

The author of the letter also expressed concerns about the NBP’s planned spending on image and promotional activities.

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