Paul Murphy (Dublin South West, Solidarity) | Oireachtas source

I thank the witnesses for their presentation. Could I start by asking for their assessment of the overall financial health of Permanent TSB? As the figures show, the numbers of mortgages in arrears in private dwelling homes and in buy-to-lets have come down substantially, based on reduced payment, arrears capitalisation and the various schemes to which the witnesses have referred. The figures for non-performing loans are, however, still high. I believe the bank set out a medium-term target of reducing it to high single digits. The European average is around 5% or 6%. How would the representatives characterise the overall financial health? If 2007-2008 was to happen again how would the bank fare in such circumstances?