Report reveals BoI’s €66m bonuses

BANK of Ireland has paid €66.37 million in bonus payments to staff since the introduction of the Government bank guarantee scheme in September 2008, and it has earmarked a further €21m for bonus-type payments this year.

The revelations, in a Department of Finance (DoF) probe into bonus payments made by BoI since the introduction of the guarantee, have been described by Labour as truly shocking.

Party finance spokeswoman Joan Burton said the report revealed how “little has changed in the culture in the banks that contributed so much to the current economic crisis”.