Ciarán Lynch (Cork South Central, Labour)
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To ask the Minister for Finance if he is satisfied with the performance of the public interest director who sits on the remuneration committee of the Bank of Ireland; if he is satisfied that it is appropriate to increase directors' fees in a loss-making bank in which the State has a 15% interest; and if he will make a statement on the matter. [15773/13]

Michael Noonan (Limerick City, Fine Gael)
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I can confirm to the Deputy that nothing has been brought to my attention to suggest that the public interest director, who sits on the Group Remuneration Committee of the Bank of Ireland, is not carrying out his functions as a director in an appropriate manner. In relation to directors’ fees, the Deputy may be aware that the total directors’ remuneration fell to €2,564k in 2012 from €3,351k in 2011, a decrease of 23%. Although individual director’s fees may have increased year-on-year, this can be for a variety of reasons including increased responsibilities arising from membership of main board sub-committees.