Ireland to remove 500,000 euro pay cap for AIB, PTSB
17/06/2025 13:41
DUBLIN, June 17 (Reuters) - Ireland will remove a 500,000 euro ($578,000) pay cap from lenders AIB Group AIBG.I and Permanent TSB PTSB.I after the government sold its remaining shares in AIB, Finance Minister Paschal Donohoe said on Tuesday. The government removed the pay cap for the country’s third retail lender, Bank of Ireland BIRG.I, following its return to full private ownership in 2022. The state still holds a 57% stake in Permanent TSB. "This ensures a level playing field between Bank of Ireland and AIB, which is consistent with the shareholding position. Removing the salary cap for PTSB at this juncture is to ensure that it is not put at a competitive disadvantage,” Donohoe said in a statement. ($1 = 0.8651 euros) (Writing by Padraic Halpin) ((conor.humphries@thomsonreuters.com; +353 1 236 1915;))