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Bank executives earning €400,000 a year

The number of staff on salaries of more than €400,000 at AIB will drop to two at the end of this year, including chief executive David Duffy, who has implemented a 15pc pay cut for top managers since taking control of the bank this year. AIB is effectively nationalised.

Bank of Ireland is 15pc state owned, and has not seen the same level of senior staff turnover as AIB in recent years.

At Bank of Ireland, 150 individuals are earning between €150,000 and €300,000 a year.

Nineteen are paid between €300,000 and €400,000 with 24 taking home in excess of €400,000.

Bank of Ireland chief executive Richie Boucher's pay package, including salary and allowances, is €831,000.

Senior figures such as Liam McLoughlin, who runs the bank's retail unit in Ireland, Andrew Keating, the bank's chief financial officer, and Des Crowley, who runs the bank's retail division in the UK, are members of the executive team that runs the bank day-to-day alongside Mr Boucher and likely to be among the bank's highest earners.

Mr Noonan said he has limited scope to reduce the "ridiculous" pay and pensions of senior bankers in the upcoming Budget. Sinn Fein accused the minister of 'feigning fake outrage' over the issue.

Irish Independent