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 Gerry HorkanGerry Horkan (Fianna Fail) | Oireachtas source

Those 900 customers have not been compensated yet because the bank would have had a view until fairly recently that they were not part of their initially identified tracker-affected people. The Central Bank had a different view and AIB has come to an agreement whereby it is now giving them compensation and redress. In the case of the 4,000, it is not enormous amounts of money relative to the €1 billion we were talking about with the Central Bank. I accept that AIB's provision is still €190 million. With 4,000 getting €1,600 each, it will not be an enormous amount of money. I take the point that small mistakes by a large amount of people can still be a lot. Relatively speaking, it is not a gigantic amount of money in the context of everything that is going on. AIB has 500 staff doing this. Are they all contracted staff?

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