Irish Life & Permanent chief executive Mr David Went received a remuneration package of €702,000 (£553,000)last year, up 9 per cent on 1999. This included a salary of €419,000, a bonus of €251,000, benefit in kind and other remuneration of €32,000, and pension contributions of €87,000. The seven directors shared a total remuneration package worth €2.5 million plus pension contributions of €331,000.

Group finance director Mr Peter Fitzpatrick got €435,000, which included a salary of €263,000 and a bonus of €140,000. Former director Mr Billy Kane received a package worth €310,000, compared with €199,000 in 1999. Executive directors Mr Brian McConnell and Mr Kevin Murphy enjoyed the biggest increase. Mr McConnell received €355,000, up from €237,000. Mr Murphy was paid €336,000, up from €208,000.

Mr Denis Casey, who joined the board last July, earned a package worth €174,000.