€2.3m payment made to ex Bank of Ireland chief

The Bank of Ireland has made a special payment of €2.3m to its former Chief Executive Michael Soden.

Mr Soden was forced to resign in May of last year, after he admitted to using his office computer to access internet pornography sites.

The payment includes a contribution of €400,000 to his pension fund.

The Bank's annual report published today says the payment was made "in settlement of potential litigation by Mr Soden."