IBOA says Irish salaries too low
Larry Broderick, general secretary of the Irish Bank Officials Association has said that although Irish banks are the most profitable in Europe, their employees still receive low salaries.
He said it was not unrealistic to expect bank officials to be paid more.
Broderick said that figures recently published show Irish banks made a profit of €3bn last year, and are probably the most profitable banks in the world and given the industry changes, members of IBOA will be look at a strategic direction for banking.
As Irish banks are outsourcing and restructuring, the IBOA is trying to follow those jobs into secure areas that are profitable he said.
Regarding possible job cuts at Ulster Bank and First Active if their acquisition by Royal Bank of Scotland gets regulatory approval, Broderick said the IBOA had already begun discussions with RBoS in relation to the jobs issue, and identified that there should be no voluntary redundancies, and that there needs to be commitment to existing terms and conditions.
