Noonan rules out return of bonuses for bankers

Finance Minister Michael Noonan has ruled out reintroducing bonuses for top bankers until performance improves.

AIB, which needed a €21bn taxpayer bailout, has approached the Government about setting up an incentive plan to retain top executives before the government starts selling the lender, according to sources. The bank declined to comment.

“The answer is sorry guys, much better performance required before we’ll even consider” bonuses, Mr Noonan said at Bloomberg’s headquarters in New York today.