The head of the Irish Bank Officials’ Association — the IBOA — has put the issue of top bankers’ pay back on the agenda demanding that the Government retain its cap on chief executives’ pay and introduce new limits for share incentives as it sells down its stakes in the banks.

Finance union, the IBOA has written to Royal Bank of Scotland (RBS) seeking reassurance around its plan to separate Ulster Bank’s operations in the Republic from those in the North.