AIB executive directors get 21% rise in salaries and bonuses to top €4m

THE four executive directors of AIB received a 21% hike in salaries and bonuses last year to over €4 million, according to the bank’s annual report for 2004, which was sent to shareholders yesterday.

Outgoing chief executive Michael Buckley, who retires later this year, received a basic salary of €775,000, up €115,000, and a bonus of €360,000. His bonus payment was down €190,000 on the previous year, but the bank said this was because Mr Buckley received a special €250,000 payment in 2003 to reflect his work in the sale of its US arm Allfirst to M&T Bank Corporation.

The bank also pumped €210,000 into his pension fund and he received other fees of €100,000.