Oireachtas Joint and Select Committees

Wednesday, 31 October 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Operations and Functioning of AIB: Discussion

2:55 pm

Mr. Fergus Murphy:

No, not in AIB. We are rehabilitating our deposit book and are beginning to get deposits back. In the year to date, we are doing well in respect of our deposit gathering. As for large corporate deposits, we prefer retail deposits, but we have some large Irish corporate deposits. Globally, however, I note that corporates are doing very well. The balance sheets of large corporates around the world are very strong and globally, they have a lot of cash. They have had strong strategies, good mergers and acquisitions activities and good markets for many years. It is ironic that while banks globally are struggling hugely, many large corporates, which may be what are being referred to in the Financial Times and The Wall Street Journal, are in very strong positions with their balance sheets.

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