Bank of Ireland chairman Patrick Kennedy wants the lender to be excused from the government’s ban on bankers’ bonuses because, unlike rivals AIB and Permanent TSB, it has paid back all of a €4.8 billion taxpayer bailout received during the banking crisis.
In his chairman’s review published with the bank’s 2020 results last week, Kennedy broke ranks for the first time with other bailed-out banks by asking for Bank of Ireland to be treated as a special case on pay.
His intervention comes amid concern that AIB’s acquisition of Goodbody Stockbrokers, where bonuses are commonplace, could be used as a back-door route to reintroduce performance-based incentives at the institution.
“Having repaid the taxpayer in full, Bank of Ireland’s view is that it should now
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