Oireachtas Joint and Select Committees

Wednesday, 4 September 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Financial Sector: Discussion with Bank of Ireland

11:25 am

Photo of Kieran O'DonnellKieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

I am taking seven minutes.

I am pleased that Bank of Ireland has an operating profit, but to cut to the chase I am dissatisfied with what has happened this morning. Mr. Boucher is not facilitating the committee to enable us to do the work we are supposed to do, that is, to examine the position in quarter two and see exactly the type of sustainable solutions and offers the bank has made. Mr. Boucher has referred to what is stated on page 15. Full interest payments do not form part of that mix.

The bank would have been required to file a return with the Central Bank regarding the offers it had made in quarter two, which totalled 6,267. It would then have been required to give a detailed breakdown of the restructuring figure - 3,164. In the era of the Internet and e-mails the bank should have provided us with these figures this morning. It is not good enough to use the explanation or excuse that the bank is a publicly-quoted company, as is Allied Irish Banks, but it's representatives provided us with the figures yesterday. The point I am making is simple. We want to see the figures. It is nothing personal.

Our job as a committee is to examine the figures for quarter two to see the details for the figure of 6,267, or 53%, which is to be welcomed. We want to drill down. The bank should give us a breakdown of the figure of 3,164 for restructuring. I believe it should be able to provide us with the figures now.

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