AIB, Anglo Irish Bank and Irish Life & Permanent are set to disclose multi-million euro payoffs to former senior executives.
The three banks parted with their top executives in late 2008 and early 2009 but details of the payoffs will only become available this month and in early April. The payments will embarrass the government, which was forced to prop up the banks.
AIB, which last week reported a €2.3bn loss for 2009, will disclose the payoff to former chief executive Eugene Sheehy, former finance director John O'Donnell and Donal Forde, former head of its Irish division. It is speculated that they got a year's salary. Sheehy was paid €1.1m in 2008.
Irish Life & Permanent will reveal the payoff to former CEO Denis Casey and finance director Peter FitzPatrick. They resigned after it emerged that Irish Life had helped Anglo shore up its balance sheet by switching deposits with it. Casey was paid €942,000 in 2008 and FitzPatrick €988,000.
Anglo Irish parted company with CEO David Drumm in December 2008, a day after Sean FitzPatrick's exit when details of his personal loans emerged. It is not known at if Drumm received a payoff. He is currently involved in legal action with the bank. Anglo's finance director Willie McAteer left in early 2009. The bank's annual report, due before the end of the month, will also disclose how much FitzPatrick still owes the bank.