Dr. Michael Somers:

We have to bring down the cost of running this institution. The banks had to go through almost every account to see whether people were over or under-charged interest and fees etc. Doing that and dealing with restitution and the regulatory requirements of the banks is taking 25% of the banks' resources. That must be brought down. We are reducing staff numbers to a more reasonable number. AIB was one of the few multinationals of which we were proud but now we are reducing it to what some would say is almost a local utility.