More ex-AIB executives asked for contribution
State-owned AIB has written to additional former senior executives of the bank and its subsidiary EBS asking them to make a contribution to the bank or forgo part of their pension given the financial difficulties and redundancies at the lender.
The bank has sent more than 20 letters to former bankers of the two lenders, which have received more than €20 billion in public funds, requesting a contribution, given the role they played between 2005 and 2008, and the subsequent collapse of the two businesses.
Details of the letters sent out by the bank were disclosed by Minister for Finance Michael Noonan in response to a Dáil question from Sinn Féin TD Pearse Doherty. The bank had already sent more than 15 letters earlier this month.
The Minister said the bank had received a number of responses from individuals it had written to but declined to say how much they had contributed.
“Given this is an ongoing process from a tax, legal and Revenue perspective, the bank is not in a position to confirm the levels of reductions involved to date,” he said.
It is understood that AIB is seeking either a reduction in the former executives’ annual pension payments or a contribution of their choice.
The letters were signed off by AIB chief executive David Duffy and chairman David Hodgkinson.
The bank has not disclosed who has received the letters, citing reasons of confidentiality.