Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

We will now turn to item No. 7 of our overview of the issues facing the economy and the banks. I welcome the following witnesses from AIB: Mr. David Duffy, chief executive; Mr. Bernard Byrne, director of personal, business and corporate banking; Mr. Fergus Murphy, director of products; Mr. Paul Stanley, acting chief financial officer; and Mr. Enda Johnson, head of corporate affairs and strategy.

As we commence proceedings, I wish to remind members, witnesses and those in the public gallery that all mobile telephones must be switched off. This meeting is being broadcast by UPC on channel 207 and if a mobile telephone is switched on it will interfere with the broadcast, sometimes to the extent that the broadcast is seriously disrupted, and those watching cannot follow or hear the questions asked or the answers given.

In beginning the formal aspect of proceedings this evening I wish to advise witnesses that by virtue of section 17(2)(l) of the Defamation Act 2009 witnesses are protected by absolute privilege in respect of their evidence to this committee. If they are directed by the committee to cease giving evidence in relation to a particular matter and continue to do so, they are entitled thereafter only to qualified privilege in respect of their evidence. They are directed that only evidence connected with the subject matter of these proceedings is to be given, and they are asked to respect the parliamentary practice to the effect that where possible they should not criticise, or make charges against any person, persons or entity by name of in such a way as to make him, her or it identifiable.

Finally, members are reminded of the long-standing ruling of the Chair to the effect that members should not comment on, criticise or make charges against a person outside the House or an official by name in such a way as to make him or her identifiable.

I will deal with some matters before I ask Mr. Duffy to commence. I will be taking questions in rungs again. The first rung will be for 15 minutes, the second for ten minutes and the third for approximately six minutes. After that, if time allows, we will move to individual supplementary questions. I have indicated who will be coming in.

I wish to thank Mr. Duffy and his colleagues for appearing before the committee this afternoon. I now call on him to make his opening statement.