Stephen Donnelly (Wicklow, Independent) | Oireachtas source

I would like to ask about the margins specifically on the variable rate. I appreciate the witnesses have stated that blended margin, or the average net margin for the bank, is below industry standard. Let us say the variable rate is 4.15%. The last report we have for the blended cost of funding for the bank was 1.57%, and while it is probably slightly lower now, let us use that. That would suggest the margin on variable rates is about 2.7 percentage points. Does Mr. Duffy know if that is higher than, lower than or at about industry norms for the eurozone?