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

Mr. Brendan O'Connor:

It is not information that we disclose. What we would say is that we are working our way through the book. There is a lag between the write-down and the agreement with the customer because there is quite a bit of legal documentation, etc., concerned. In some cases, the property has to sell. One might agree with a customer that the residual or a portion thereof is to be written down but the property must go on the market and there has to be closure and a sale. Therefore, there is a lag. One is actually accounting for some activity in 2013 that results in a write-down in 2014. However, I would say that we still-----

Comments

No comments

Log in or join to post a public comment.