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

The details are that on 8 May 2014 and again on 26 June 2014, KBC Bank informed the Central Bank of breaches. That is a year after the June 2013 request by the Central Bank, relating to its concerns about compliance with the code, asking KBC's internal audit department to carry out a review. Will Mr. Verbraeken correct the record and say that it was not KBC that identified this issue but the Central Bank that asked it to carry out the review, and that as a result of the review, KBC informed the Central Bank in different phases that there were breaches of lending rules within the bank?

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