Oireachtas Joint and Select Committees

Thursday, 8 May 2014

Public Accounts Committee

2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012

12:55 pm

Mr. John Moran:

Mine was not yesterday. It was badly reported on the radio yesterday apparently. The reality is that 14% of the bank shares are held by the State. We were not the only shareholder to vote for that remuneration. If one looks at the performance of that bank over the past number of years, and if we talk about maximising shareholder value, at a certain point, I believe it is appropriate to recognise the performance of a management team and to find some parameters in which one recognises that performance. There are lots of different ways to do that but, certainly, one important issue would have to be the valuation of our interest in the bank and what had happened to that in terms of how the bank had performed and the value created for the taxpayer in respect of the shareholding over the period of time. In that respect, Mr. Carville might have the exact numbers of how many voted in favour.

Comments

No comments

Log in or join to post a public comment.