Oireachtas Joint and Select Committees

Wednesday, 22 April 2015

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of the Banking Sector in Ireland: Allied Irish Banks

2:00 pm

Photo of Michael CreedMichael Creed (Cork North West, Fine Gael) | Oireachtas source

Given the progress the bank has made, does Mr. Bourke expect that credit rating to improve? Is there any indication? The State, because of its improved credit rating, has been getting better deals for the taxpayer for State loans. It has extended terms and has reduced interest rates. Is AIB working aggressively to reposition itself? Why is it that only 3% of AIB's funding is coming from that cheap source of funding at the ECB? Can AIB restructure its loans and, therefore, impact positively on the cost of funding?

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