Dáil Éireann Debate, Thursday - 13 February 2014
97. Deputy Michael McGrath asked the Minister for Finance the number of meetings his Department officials have had with AIB which included discussion of a reinstatement of bonuses at the bank; and if he will make a statement on the matter. [7456/14]
Amharc ar fhreagraAs the Deputy will be aware this Government's policy with respect to banking remuneration has been in place since mid-2011. In summary, remuneration in State supported banks is capped at €500,000 (excluding normal pension entitlements) and the payment of bonuses is not permitted.
I can confirm that at a meeting which took place between AIB and officials from the Department of Finance in January 2014, AIB raised the issue of new staff incentivisation measures in the context of our shared objective to return the bank to profitability and ultimately deliver a return for the taxpayer.
No policy changes are planned in the area of banking remuneration. I personally reinforced this point when my officials and I met the Chairman and a number of Board members earlier this week.
