Oireachtas Joint and Select Committees

Thursday, 22 March 2018

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

Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB

9:30 am

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

We are aware that we have a functioning banking system and we are aware that Permanent TSB needs to be properly capitalised, well structured and in a position to make money. Alongside that, we have people to whom Permanent TSB provided mortgages over the past ten to 15 years, many of whom have been to hell and back. I have dealt with some of them. We are trying to get to the heart of the matter and address the lack of detail. For the benefit of the people following these proceedings, what is the next stage of the process such that people will know whether or not they are included in the sale of this particular loan book? I am assuming that the people included are unaware at this stage that they are included. The bank has 18,700 mortgage holders. Are the 4,300 people with split mortgages and the 10,000 with home loans aware or unaware at this stage that they are included in this sale?

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