The Chief Executive of Allied Irish Banks (AIB) is refusing to say if he will take another pay cut as part of getting costs under control at the bank.

The Finance Minister Michael Noonan has ordered State-covered banks to cut costs between 6 and 10%.

Minister Noonan did not vote against the salary of the Bank of Ireland Chief Executive because he is expecting it to be cut.

Last week the AGM voted in favour of an €843,000 per annum pay packet for Richie Boucher while the Minister chose not to exercise his vote despite the 15% government share in the bank.

Speaking at the weekend Mr. Noonan said pay increases for bank bosses are 'ridiculous' at a time public servants are being asked to take cuts.

While the AIB CEO David Duffy says he will not reveal what is happening about his salary until he informs the Minister.