BNZ bank boss Angie Mentis has had her pay package hit after the board of the Australian parent decided the company had not met its targets for the year.

The board of National Australia Bank, which owns the Bank of New Zealand, has decided its executive leadership team will not get paid a short-term bonus, or get a rise in their fixed remuneration for its latest financial year.

That decision includes Mentis, who moved over to take the top job at the New Zealand bank at the start of 2018 from NAB where she held a top-level role as chief

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