Deutsche Bank, Morgan Stanley and ABN Amro itself will be paid a combined maximum fee of €4.5m for their role in ABN Amro’s partial flotation later this year.

The exact size of the fee will be decided after the flotation, said the government’s finance agency NLFI, which manages the state’s stakes in companies.

In addition, the banks will be paid travel expenses for their work as global coordinators. Traditionally, banks involved in IPOs are paid a percentage of the value of the shares.

At the end of August, the NLFI will announce which banks have been selected as bookrunners and co-lead managers.

In May, the cabinet agreed ABN Amro is to be sold off in several blocks and the first bundle of shares will likely be floated in the final quarter of this year.

ABN Amro was nationalised in 2008 following its takeover by a consortium of other banks. The state hopes to earn €15bn from the sale, less than half the total bill for its rescue.