Banking Bonus Bid Rejected

The Irish Minister for Finance, Michael Noonan, has appeared to pull the plug on plans by some in the banking sector to begin the much reviled practice of handing out bonuses to bank executives.  Nor is he prepared to sanction an end to the €500,000-a-year pay cap. 

AIB had sought to reintroduce the culture viewed by many as cronyism particularly as the tax payer had to fork out  €21 billion to save the bank from its own excesses. The tax paying public might just view any rewards for banking executives as yet another swindle. 

Dismissing the AIB proposal Minister Noonan said 'it makes no sense, and it’s not a demand that I’m prepared to deal with.'

Opening of Ballyfermot  branch of Munster and Leinster Bank in June 1963.

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