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
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
Perhaps Mr. Kelly will not speculate on this either, but KBC has a large proportion of warehoused mortgages. We have dealt with this in the past at different committees in terms of different banks' approaches to how we dealt with the mortgage arrears. They will now come over to Bank of Ireland. There is a concern that Bank of Ireland will deal with them more aggressively. My concern would be that the banks will do what they have done in the past, which is to sell them on to vulture funds. Can Mr. Kelly give a commitment that the transfer of warehoused split mortgages from KBC will not be sold on in the immediate future or over the coming years?
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