Oireachtas Joint and Select Committees

Wednesday, 18 May 2022

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

Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland

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

I wondered what is wrong with the KBC customers and if they will go for them as well. I have my account with KBC. The assistance provided during my first contact with the bank left a lot to be desired. I had a conversation with a bank representative named Dylan who patched up all the issues and concerns I had. I know it is a difficult job but the bank has to reach out much more, particularly to people, as Senator Byrne and others said, who are not computer literate. That is a concern for members.

Both Ulster Bank and KBC stated they have had positive engagement with the utility companies. I am glad to hear that. As members are aware, the committee sent correspondence to Electric Ireland, Energia, PrepayPower, SSE and Bord Gáis seeking a submission before 9 May. Today's meetings are taking place to help customers and to highlight and try to deal with the issues. They are intended to be constructive and supportive of both the banking industry and customers.

That way we as legislators, in contact with the regulator, become informed and have a role to play. Having written to all these companies asking for submissions by 9 May and enquiring as to their availability to attend a meeting on 13 May, in addition to a follow-up on 17 May, there was no response except from Bord Gáis, which said it would not attend but would provide a note. Today, PrepayPower responded by saying it would provide a note but would not attend. Energia said it would provide information by Friday and would indicate whether a representative would attend. I find that absolutely appalling from utility companies that have the wherewithal to deal with the issues up-front with the banks, their customers and this committee. They have chosen not to do so. That is what I take from their response. We can only reply on the witness's engagements with utility companies to clarify matters for their customers, who may be in arrears and dealing with all sorts of problems.

Following this meeting, the utility companies should respond to the committee, make a submission and attend the committee. They are showing a disrespect to the committee and more so to their customers and the efforts being made by this committee and Members of the Oireachtas to facilitate what is a huge transaction for banks, customers, and those depending on the system. I make that appeal now and will mention it again when the representatives of the other banks come in.

I thank our witnesses for coming in and for their contribution to the meeting. If any other issues arise, I hope they will keep the committee informed; it would help us with our work too. That concludes this section of the meeting.

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