Oireachtas Joint and Select Committees

Wednesday, 5 November 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Banking Sector: Bank of Ireland

4:10 pm

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

Many questions I have about the banking sector are directed more to the Government than to individual banks. However, I have a few questions for Mr. Boucher. Does he accept the proposition that his bank, along with others but his would be at the top of the league table, is profiteering in terms of the interest rates it is charging on loans compared to its European counterparts? This was raised earlier but I was not present, and I apologise for that. The evidence from the briefing we were given is that the bank is engaged in serious profiteering in respect of the interest rates being charged, compared to what banks in the rest of Europe are doing. How would Mr. Boucher respond to that? How does he consider it morally justifiable, given that the bank would not exist today without the bailout it was given by ordinary citizens of this country?

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