Oireachtas Joint and Select Committees

Tuesday, 23 January 2018

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

Tracker Mortgages: Allied Irish Banks

4:00 pm

Photo of Kieran O'DonnellKieran O'Donnell (Fine Gael) | Oireachtas source

One of the ways that is manifesting itself is in the SME sector, in particular. Many SMEs were given loans by AIB and other institutions. Effectively, they borrowed on the strength of their core business but went into property. The weight of the debt on the property side is leading to haemorrhaging for many in the SME and farming sectors. What type of provisioning has AIB carried out against these loans? Has it written them down to recoverable amounts? I want to get to a point where the people affected can get on with their lives. Could Mr. Byrne explain the position?

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