AIB executives should defer bonuses - IBOA

Friday 10 December 2010 17.58
Larry Broderick - Branch staff are facing abuse over bonuses
Larry Broderick - Branch staff are facing abuse over bonuses

The Irish Bank Officials Association has said those AIB executives who will benefit from a €40m bonus package should defer acceptance of the payments.

IBOA General Secretary Larry Broderick said frontline staff were feeling the public's ire, even though they were not entitled to the bonuses.

Mr Broderick said: 'Once again branch staff throughout Ireland are bearing the brunt of further unjustified abuse and demeaning comments from various quarters.

'The vast majority of staff in AIB have not benefitted from any such payments.

'Indeed, our members in AIB are now suffering the consequences of the distorted remuneration policies introduced in AIB over the last decade or so.'

Minister for Finance Brian Lenihan said he intends to impose a 90% tax on any future bonuses for those in banks covered by the State guarantee.

The Minister made his comments following uproar over the bonuses, with Opposition parties raising the issue in the Dáil.

Fine Gael leader Enda Kenny described the payment as scandalous, while Labour leader Eamon Gilmore said that an average bonus of €16,700 would amount to more than what a carer would get all year.

Meanwhile, the Dáil Public Accounts Committee is taking legal advice on whether it can force the National Asset Management Agency to reveal the salaries of its employees.

NAMA has refused a request by the PAC to disclose pay rates, saying it was a contractual issue.

Speaking on RTÉ Morning Ireland, PAC Chairman Bernard Allen said NAMA was not a commercial organisation, but funded by taxpayers and must be accountable.