Tuesday, 14 February 2012
Department of Finance
Banking Sector Regulation
Pearse Doherty (Donegal South West, Sinn Fein)
Question 144: To ask the Minister for Finance the cost to AIB from staff overtime including the total overtime bill and total overtime hours worked broken down by month from January 2011 to January 2012; the average number of hours of overtime worked by affected staff; the number of staff working overtime broken down by month from January 2011 to January 2012 and expressed in numerical terms and as a percentage of the total workforce; and if he will make a statement on the matter. [7655/12]
Michael Noonan (Minister, Department of Finance; Limerick City, Fine Gael)
As the Deputy will be aware, notwithstanding the fact that the State is a significant shareholder in AIB, the bank is run on a commercial arm’s length basis and I do not have a role in the day-to-day commercial and operational decisions taken by the board and management of the bank. In relation to employment costs, the management and board of the bank are aware of their duties to their shareholders to ensure that all costs incurred by the bank are necessary and reflect the needs of the business.