Ms Jane Howard:

I said earlier that we served notice. This will expire in March. The reason we chose March is so that it will coincide with the date relating to stamp duty. Once we freeze an account, stamp duty is not required to be paid. This makes it easier for customers.

We will freeze the debt. Customers will then need to get a new credit card from a new supplier and transfer the balance. There are plenty of offers on the market for people who want a credit card with zero balances and goodness knows what else. For our customers, this is the one area in respect of which we have seen an increase in debt. As a consequence of inflation and some of the pressures we are under, we have not seen an increase in overdrafts or other areas. However, we have seen an increase in this area. We reached out to the affected customers to understand what support they need. Some of our customers have what we call a revolving balance, which means it moves but they do not always pay it off. Some 84% of our customers have an outstanding balance of less than €1,000. They should have no problem getting a credit card and getting the limit. We also have a large cohort who have credit cards that are inactive. Approximately 24% pay the balance off every month. They are not going to have a problem.