The Chief Executive of the Irish Nationwide, Michael Fingleton, received a total remuneration in excess of €1.3m in 2004. The building society's AGM heard today that his salary came to €1.034m last year, with a pension contribution of €293,000.
In 2003, his salary amounted to €910,000, plus €266,000 in pension contributions.
Last month, Irish Nationwide reported a 16% increase in pre-tax profits to €135m for 2004, helped by a 33% jump in lending to €2,378m.
The society said its total loan book stands at nearly €5.6 billion, up 31% on the previous year. Deposits were up 38% to just under €4.8 billion.
Delegates at today's AGM also heard that the building society is fully committed to demutualisation. Chairman Michael P Walsh said that the society looks forward to the passing of legislation at the earliest date 'so that the wishes of our members can be achieved in a rapid and controlled fashion'.
'We are fully committed to maintaining a strong society and implementing a successful demutualisation programme as soon as the proposed legislation is passed into law,' he concluded.
