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 Michael McGrathMichael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I have a few additional questions on the tracker issue. Taking up Deputy Doherty's suggestion, will AIB provide apro forma mortgage contract in respect of the prevailing rate issue? It would be a typical redacted contract which deals with the clauses 3.2 and 3.6, and the letter of offer with customer details redacted. If there are other variations which represent significant cohorts within that overall cohort, then that should be provided as well. When Mr. Byrne was before the committee last month to speak on a different issue, he made remarks about the State's shareholding in the bank. They were interpreted as encouraging the State to sell additional shares in AIB. The share price is approximately €5.62. The market capitalisation of AIB is at approximately €15.2 billion. Would that be correct?

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