Oireachtas Joint and Select Committees

Thursday, 28 September 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking Sector in Ireland (Resumed): Permanent TSB and KBC Bank

9:45 am

Mr. Wim Verbraeken:

Deputy, we are not in a position to provide any numbers or amounts related to the phases of the examination that is still ongoing.

We understand this is difficult for our customers and that what happened to certain customers was wrong and should not have happened. We hope and are determined that when we go public with the full report on what we have found and considered we will demonstrate our commitment to address this properly and restore public confidence in our fairness in this matter.

In terms of the number of customers who have been addressed to date, we have not included the 571 affected in 2010 although they should be included because other banks did not perform the correction that KBC did in 2010 and so it should be considered in the total package, but the numbers involved may or may not paint a picture that is representative of the ultimate outcome. So it is not helpful to make that public at this stage. Ultimately we will provide the full overview and as we go through the process and are sure that certain customers are affected we will not wait to address those accounts.

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