Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

Mr. Duffy, you say on page 1 of your introduction, that Allied Irish Banks made €1.1 billion profit in 2014. Can I ask you to reflect a little bit on that, in the sense that the recapitalisation by taxpayers of AIB was €20.7 billion. On 26 February, the day before the general election in 2011, a further €1.5 billion ... it is not commonly known by taxpayers, in my view, was transferred to AIB in NAMA bonds and deposits from Anglo, and Mr. McDonagh, the chief executive officer of NAMA, estimated that all the covered banks got effective state aid to the tune of €10 billion by virtue of being overpaid €10 billion from what the market might pay for the loans, and if we ascribe a proportion of that proportionately to AIB it would be €2.83 billion, so that would be about €25 billion in total in state assistance of one kind or another. So, would it be more appropriate to rephrase your profit statement that there is at the end of 2014 ... the loss to the taxpayer has been reduced from €25 billion to €24 billion? Would that be a more appropriate way to put it, perhaps?