Outgoing AIB CEO David Duffy will likely see his salary increase significantly following his departure from the state-owned bank.

Subject to the government imposed salary cap at AIB, Mr Duffy joined the bank on a salary of €500,000, but took a pay cut as part of bank-wide wage reductions last year, which saw his salary slide to €425,000.

However, no such limit will apply at National Australia Bank owned Clydesdale Bank.

Indeed Duffy's predecessor at Clydesdale Bank , David Thorburn, received total compensation of £955,000 (€1.3m) in the 12 months to September 30th 2014, down from £1.54m (€2m) in the previous year. Mr Thorburn's package consisted of a basic salary of £450,000, benefits of £99,000, plus bonuses worth some £406,000.