Clarification

In an article entitled “Bonus row shows Bank of Ireland is no better than rest” published on Monday, March 7th, it was stated that Bank of Ireland has received €7 billion in State support. Bank of Ireland has in fact received €3.5 billion in capital support to date.

The Department of Finance has also pointed out that the report on bonuses at Bank of Ireland was prepared by staff of the department, with the assistance of the National Treasury Management Agency. While input was received from Arthur Cox solicitors on certain matters in the report, no charge is payable in respect of this advice.