Oireachtas Joint and Select Committees

Thursday, 13 November 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Banking Sector: AIB

1:10 pm

Photo of Aideen HaydenAideen Hayden (Labour)
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It would be good to have clarity on that issue. The buy-to-let loan books of Allied Irish Banks and every other institution show the number of cases in which there are serious arrears and which involve court proceedings. There will be a lot of disruption in the market in the near future. There is at present, but it will get worse.

Deputy Kieran O'Donnell asked a very interesting question to which we did not really receive a full reply. Given what has happened, Allied Irish Banks has dropped its variable rate, but other lenders have not. Deputy Kieran O'Donnell's point which was based on the figures and statistics to which he alluded and which he made cogently was that there was not enough competition in the market. Does Mr. Duffy believe that is a fair comment?