Terence Flanagan
Question:214. Deputy Terence Flanagan asked the Minister for Finance if he will clarify a matter regarding overtime payments at a bank (details supplied); and if he will make a statement on the matter. [49492/13]
View answerTuesday, 19 November 2013
Questions (214)
Written answers
The Deputy will be aware the Relationship Framework with the Allied Irish Banks provides that the State will not intervene in the day-to-day operations of the bank or their management decisions. This framework is published on the Department of Finance website. I must ensure that the bank is run on a commercial, cost effective and independent basis to ensure the value of the bank as an asset to the State, as per the Memorandum on Economic and Financial Policies agreed with the EU Commission, the ECB and the IMF.
I have been informed that AIB manages “overtime” within its commercial business requirements.