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

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I appreciate what the witness is saying in regard to a new board now being in place and that current management was possibly not in place when those decisions were taken but, given the witness's failure to offer any timeframe for the bank communicating with individuals the witness knows his bank caused to lose their home, I find it difficult to believe the bank is in any way really grasping what is happening to its customers. That is not acceptable. The bank has created a situation where we do not know whether customers who lost their homes will be communicated with before this Christmas or the next or the one after that. No indication has been given beyond saying it will be done as soon as possible. The witness says they will be prioritised yet there is no evidence of that being done thus far. Based on the number of customers of other banks who have lost their homes, I imagine the number of individuals affected here might be a dozen or two dozen and not a huge number of accounts. It should not be beyond the collective wisdom of those in KBC to prioritise them because although the bank has done serious damage to many of its customers, those who have lost their homes most need prioritisation. Their cases should be pulled out, they should be communicated with and an offer made to them. I cannot imagine that that is happening.

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