Oireachtas Joint and Select Committees

Tuesday, 26 September 2017

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

Banking Sector in Ireland (Resumed): Allied Irish Banks

4:00 pm

Mr. Jim O'Keeffe:

On page 3 of the table we outline the properties in the bank's possession. We look at private dwelling home, PDH, and buy-to-let properties on page 4. In relation to what we have been doing with the Housing Agency, we have contracted 280 properties to date and we expect that to conclude before the end of the year. I mentioned earlier that the original intention of the Housing Agency was to fund €70 million, which was what was made available to it for this round. We expect that by the end of the year, we will have taken in excess of €55 million of that.

That €70 million was made available to the entire financial sector, but I understand from the Housing Agency that we have taken the vast majority of it.