Dr. Colin Hunt:

We have spent a considerable amount of time working on our brand values. Regarding the annual appraisal process we now go through, 50% involves what we did and 50% involves how we did it so it is about how we lived those values.

The primary value is that the customer is put first. We have enhanced our values and introduced a new purpose statement, which is that the purpose of the bank is to back our customers to achieve their dreams and ambitions. I have recently met the retired judge, Mr. Justice John Hedigan, who chairs the Irish Banking Culture Board. We have nominated our head of consumer banking, Robert Mulhall, to be AIB's representative on that board. He is a member of my team and a member of the group executive and that is a clear indication of the seriousness with which we treat the whole cultural issue.

As I said earlier, of the three building blocks that are necessary for us to fully restore our reputation over the next number of years, culture is a critical one. We have had an increasing focus on customers in recent years and that is well recognised externally but the fact of the matter is that we have further work to do, as we enhance our culture, towards being a more open, transparent and maybe a less hierarchical organisation.