Oireachtas Joint and Select Committees

Tuesday, 3 September 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Financial Sector: Discussion with AIB

4:00 pm

Mr. David Duffy:

Deputy Pearse Doherty made many statements with which I fundamentally disagree and if it requires us to have the discussion outside this meeting, we will do it, and in detail. I would tell him that he is patently ignoring the fact that there are 14,000 customers who were in arrears this year who we took out of arrears. He is patently ignoring the fact, for statements like this, that there are an additional 4,000 customers who were taken out of arrears outside this quarter. If we just want to play statistical negatives with one quarter, it is fine and we can do that. I care about the substance of the solution we provide for this group of customers.

There are 14,000 customers who came into arrears this year who we have taken out of arrears. We have done 12,500 in our total, of which 8,600 is what the Deputy was looking at, and we went through another 4,455 solutions for him where we explained what was involved. Therefore, I would put to the Deputy quite the opposite. There is a target. There is a definition of those targets. We are meeting those targets. In addition, just because the regulator did not have a target in the first quarter does not mean we should ignore the fact that 14,000 customers have had a great deal of assurance about their circumstance and 4,500 other solutions have been put in place. I respect what the Deputy states in terms of the quarter but I would argue that was a natural consequence of the regulatory target. It is not going to be the majority of cases. It represents 40% of the reality of what we have done this year. In terms of the customer out there, I would like customers to understand that the great majority of this - 60% of this plus - involves good solutions for the customer and as we roll forward, we will not have to deal with 5,000 legacy cases that have not paid for three years. There is a more balanced and broader picture which, to be fair to the customer out there, ought to be articulated, but I am happy to engage further.

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