Mr. Jeremy Masding:

In terms of non-core business, any CEO has to have a portfolio lens. I have some tests as to whether it fits within the future business model of the Permanent TSB group. There are portfolios which do not fit within the business model. Examples would include our UK buy-to-let business called Capital Home Loans, CHL, which is a non-core business. Sadly, we have a commercial real estate, CRE, book which is the definition of adverse selection. It is a non-core business. Then we have a couple of other portfolios. My job and that of Mr. Shane O'Sullivan over time is to maximise value from these portfolios. As the Deputy will understand, there is always a trade-off between wanting to dispose of them because of their absorption of management time and not giving them away, which would destroy taxpayers' capital. We try to find that balance.

In terms of the good bank which, thank goodness, is now really beginning to motor, the current account strategy was one about which we thought deeply. We think current accounts are the cornerstone of any - I would hate to use the word pejoratively - "simple" retail bank. We want to be known for doing what it says on the tin.