John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

I remind members to ensure their mobile phones are switched off. It is important as it causes serious problems for broadcasting, editorial and sound staff. I ask members to switch to flight mode if possible.

Our first session will deal with matters relating to the banking sector in Ireland. The session will conclude at 4.45 p.m. I welcome Mr. Jeremy Masding, chief executive officer of Permanent TSB, Mr. Ger Mitchell, Mr. Stephen Groarke and Mr. Shane O'Sullivan. In advance of the meeting we collated questions from members of the committee and submitted them to Permanent TSB. I thank Mr. Masding and his staff for responding. The responses have been distributed to members.

Before we begin, I wish to advise the witnesses that by virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are predictably up to privilege in respect of their evidence to this committee. If you are directed by the committee to cease giving evidence in relation to a particular matter and you continue so do, you are entitled thereafter only to a qualified privilege in respect of your evidence. You are directed that only evidence connected with the subject matter of these proceedings is to be given and you are asked to respect the parliamentary practice to the effect that, where possible, you should not criticise or make charges against any person or persons or entity by name or in such a way as to make him, her or it identifiable.

I now invite Mr. Masding to make some brief opening remarks.