Ireland ends post-crisis ban on bank bonuses, lifts pay cap
Reuters
Published Nov 29, 2022 13:56
DUBLIN (Reuters) - Ireland will lift a crisis-era cap on top bankers' pay and allow lenders to pay bonuses of up to 20,000 euros ($20,758) as well as benefits such as healthcare for the first time in more than a decade, Finance Minister Paschal Donohoe said on Tuesday.
Donohoe, who began an independent review of Ireland's retail banking system a year ago, said ministers agreed to implement its recommendations in full.
They included a lifting of the 500,000 euro pay cap for Bank of Ireland, which returned to full private ownership this year. AIB and Permanent TSB should follow suit when the state's shareholding reaches an "appropriate" level, the review recommened.
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Written By: Reuters
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