Banking
Bank of Ireland sparks staff anger as bonuses fail to match record profits
Lender adopts ‘gradual normalisation’ approach to bonus pay which is set at half of maximum limit under new rules
Just after 9am on Monday morning last week, staff at Bank of Ireland tuned in to hear an address from senior management on the company’s 2023 financial performance.
It was a record year for the lender as operating profits surged to €2.4 billion on the back of higher interest rates and soaring demand for new mortgages.
In the lead-up to the results, Myles O’Grady, the chief executive, had pledged that the bank had “no desire ...
