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27 bankers earning over €500,000 a year

Figures released today show that 20 of the staff are in Bank of Ireland, while seven are in the IBRC. Sinn Féin finance spokesperson Pearse Doherty said that he is “amazed and raging”.

Sinn Fein Finance Spokesperson, Pearse Doherty.
Sinn Fein Finance Spokesperson, Pearse Doherty.
Image: Sam Boal/Photocall Ireland

NEWLY-RELEASED FIGURES show that there are 27 bankers earning more than €500,000 a year.

Sinn Féin finance spokesperson Pearse Doherty, who received the information from Minister for Finance Michael Noonan following a parliamentary question, said that he is “amazed and raging to discover that nearly 3,000 staff, at banks we have bailed out, are still taking home over €100,000”.

Remuneration

Minister for Finance Michael Noonan today detailed that 2,949 staff at the covered institutions are receiving remuneration packages in excess of €100,000.

Of these 326 receive more than €200,000; 104 receive more than €300,000; 48 receive more than €400,000 and 27 receive more than €500,000. The figures include salaries, pension contributions and other forms of payment.

Deputy Doherty said:

Today’s figures released by the Minister for Finance are truly staggering. The scale of the excessive pay culture in the bailed out banks beggars belief. Like most people on hearing this information I am truly amazed and raging.

Deputy Doherty published legislation today that if passed would enable the government to claw back a large amount of this money. The bill applies a levy of 20 per cent on bank executive’s earnings in excess of €150,000 per year and 45 per cent on earnings in excess of €250,000 per year.

Deputy Doherty’s bill also seeks to impose a 99 per cent charge on pension payments in excess of €100,000 per year for all bank officials who retired from the covered institutions after the introduction of the banking guarantee of 2008.

Fianna Fáil’s Michael McGrath also published different legislation today on the issue of bankers’ pensions.

Doherty said that the Government’s claim that they are unable to act on this issue is “bogus”.

Salaries

The figures show:

  • Number of staff on total remuneration package (incl pension payments, allowances and benefits) of between €100,000-€200,000

AIB:1,150
BOI: 1,110
PTSB: 164
IBRC: 190
NTMA: 52
NAMA: 88

  • Number of staff on total remuneration package (incl pension payments, allowances and benefits) of between €200,000-€300,000

AIB:85
BOI: 102
PTSB: 11
IBRC: 24
NTMA: 9
NAMA: 3

  • Number of staff on total remuneration package (incl pension payments, allowances and benefits) of between €300,000-€400,000

AIB:8
BOI: 32
PTSB: 4
IBRC: 12
NTMA: 4
NAMA: 2

  • Number of staff on total remuneration package (incl pension payments, allowances and benefits) of between €400,000-€500,000

AIB:10
BOI: 10
PTSB: 1
IBRC: 0
NTMA: 1
NAMA: 0

  • Number of staff on total remuneration package (incl pension payments,allowances and benefits) of over €500,000

AIB:0
BOI: 20
PTSB: 0
IBRC: 7
NTMA: 0
NAMA: 0

Earlier this month, figures disclosed by Minister Noonan showed that six current at the former Anglo Irish Bank earn over half a million euro a year, despite the government’s cap on remuneration packages for bankers. Tánaiste Eamon Gilmore said that €500,000 slaraies for bank executives is “not acceptable”.

Read: Gilmore says €500,000 salareis for bank executives is “not acceptable”>

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