IBOA general secretary Mr Larry Broderick has launched a scathcing attack on certain bank executives saying their actions have done serious damage to the international reputation of Irish banking.

Addressing delegates at the trade unions' annual conference in Wexford, Mr Broderick said that recent reports from IFSRA and High Court inspectors clearly illustrate there was something "seriously rotten at the core of Irish banking" for many years.

"The culture that has dominated thinking and practice at the very highest level in Irish banking for decades has to be eliminated once and for all. At the heart of this culture is the creed that profit comes before everything else, profit comes before the customer, staff, ethics and high standards," he said.

The banking industry is far too important to the economic and social fabric of Irish life, for tens of thousands of people employed in it, and their families, and to virtually every person in the State who has a bank account, for the current culture to be left untouched or just "tinkered with" at the edges, Mr Broderick said.

"The damage done to the reputation and international standing of Irish banking must not be underestimated or repeated." He stressed that the IBOA has shown that it is prepared to work with those executives and decision- makers who are genuinely interested in reshaping the culture of banking in the best interests of staff, customers and the industry.

Mr Broderick suggested that the Government and industry chiefs should not believe that they can quietly sweep corrupt and fraudulent practices under the carpet and continue on as if nothing has happened.

"With new and enhanced regulatory bodies now in situ and a public awareness built up that will not tolerate such behaviour, IBOA is hopeful that practices that came to light over the summer will never again be repeated and most definitely not covered up".

The trade union believes that the onus of responsibility to ensure there is accountability and best practice within the industry rests with the Government. "This year's revelations have proven that, left to their own devices, senior executives will pursue short-term profit at the expense of staff, customers and ethics" said Mr Broderick.