Paschal Donohoe sets scene for return of bankers' bonuses of up to €20,000

Minister for Finance Paschal Donohoe announced the setting up of the Retail Banking Review over a year ago as it became clear the departure of Ulster Bank and KBC Bank would further reduce competition in Irish banking and boost the market shares of the already dominant lenders, AIB and Bank of Ireland. 

Finance Minister Paschal Donohoe is set to announce the start of the process to unwind the controls over bankers' pay and bonuses that were put in place after last financial crisis.  

The Government had long signalled it would start to drop the conditions over bankers' pay when the State's major shareholdings in the banks fell, and a report into lenders will set scene for the lifting of the pay and incentive caps. Banks will now be able to pay bonuses of up to €20,000, according to the proposals.