Executive directors at Bank of Ireland received average remuneration of £358,285, an 8 per cent increase on the year before, according to the bank's 1997/98 annual report.

The remuneration package for the executive directors cost the group £1,254,000 compared to £1,134,000 the year before. Mr Pat Molloy retired as a executive director at the end of January, while in August 1997 Mr John Burke became an executive director.

The two other executive directors were group chief executive Mr Maurice Keane and deputy group chief executive, Mr Patrick McDowell.

The annual report shows total salaries among the executive directors rose from £704,000 to £785,000, or £224,285 on per person, with an average of 3.5 executive directors employed during the year. Other forms of remuneration, not detailed increased from £24,000 to £35,000, while pension contributions went from £72,000 to £83,000. The remuneration for non-executive officers, governor Mr Howard Kilroy and deputy governor Mr Anthony Barry increased to £195,000 from £182,000, due to an increase in salaries from £167,000 to £185,000.

Other non-executive directors saw their remuneration rise to £228,000 from £156,000. This translates as £32,500 each for non-executive directors like Ms Mary Redmond, Mr Raymond McSharry and Mr Niall Fitzgerald of Unilever.