Irish Life & Permanent's annual report for 2009 has confirmed that its former chief executive Denis Casey was paid a total of €4.57m last year.
Mr Casey resigned in February in the wake of a controversy over transactions between Irish Life & Permanent and Anglo Irish Bank, which allowed Anglo to dress up its accounts. IL&P lost two other directors - finance director Peter FitzPatrick and head of group treasury David Gantley - following the controversy.
The annual report says Mr Casey received almost €1.25m which was in accordance with the terms of his contract. The total also included €2.9m, which was the actuarial value of a pension increase he received during the year. The report said this was 'based on past normal custom and practice'.
A spokesman for IL&P said Mr Casey received his contractual entitlement, 'no more and no less'.
Current chief executive Kevin Murphy received a total of €744,000. The report said his salary was cut to €500,000 from August 1 in line with Government guidelines on bankers' pay. IL&P said no bonus payments were made to executive directors in 2009.
Meanwhile, the chief executive of paper and packaging group Smurfit Kappa, Gary McGann, was paid a total of just over €2.2m last year, according to the group's annual report. The figure, which included a salary of €1.26m, was down from the €2.35m he received in 2008. Total bonuses paid to executive directors were cut by more than a third, according to the report.
Chief operations officer Anthony Smurfit was paid a total of just under €1.4m, while finance chief Ian Curley received €1.24m.
