Oireachtas Joint and Select Committees

Tuesday, 1 October 2019

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

Irish Banking Culture Board: Discussion

Photo of John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

Like other members, I wish Mr. Justice Hedigan, Ms Kelly and their team every success. It is hugely important that we see the type of change they have outlined for us. Five banks are involved - Bank of Ireland, AIB, PTSB, KBC and Ulster Bank. Someone asked how much each bank contributed. I think the answer given was that each bank made a contribution, according to its size. It would be worthwhile letting people know the actual amount each bank gives. The banks also give to the Irish Banking Federation, IBF. When we asked each of the CEOs of the banks to tell us how much they gave to the federation, every one of them, except the CEO of KBC, stated in writing that they gave to many such organisations but that they would not tell us the amount. KBC told us that it gave €127,000 a year. Let me explain the reason it is important to put the figures in the public domain. It helps people to understand exactly what is going on. Ms Kelly said the establishment costs were €1.6 million. How much does each bank give each year? My question is reasonable. It is information that should be in the public domain.

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