The total remuneration of the executive directors of Anglo Irish Bank rose by 27 per cent to £2.47 million in the year to end September, according to the bank's annual report. At £398,870 the average remuneration per director rose from £325,000.

At £1,196,000, total salaries paid to the executive directors were 13 per cent ahead of the previous year, with the average payment to each director up 9.5 per cent to £192,903.

The annual report shows that the cash payment made by Anglo for Smurfit Paribas Bank was £16.3 million and not the £30 million cash payment as originally planned. The deal was completed by the payment of dividends of £14 million to the vendors out of the Smurfit Paribas reserves with the balance of the £30 million price paid in cash by Anglo.