Oireachtas Joint and Select Committees

Wednesday, 13 May 2015

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of the Banking Sector in Ireland (Resumed): Permanent TSB

2:00 pm

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

That is fine. We will be dealing with that matter later. I wish to turn now to the cost of funding. The witnesses said that most of the funding for Permanent TSB comes from deposits, if I understood correctly. They said that 60% of its funding is from deposits and they cited that as one of the reasons for their difficulty in reducing the variable interest rate. Obviously, the witnesses cannot talk about individuals, but can they tell me how many deposit customers the bank has and what portion of those customers have big deposits of, say, more than €100,000, up to €1,000,000? I am curious about that, and it follows on from what Deputy Creed was saying-----

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