Mr. Peter Roebben:

Yes. Before I arrived in Ireland I personally looked at how we approach non-performing loans because I am aware of how sensitive and important the issue is in Ireland and for KBC Bank Ireland. Our policy has been, and remains, to really look for every possible option to individually engage with every customer. This affects people and their houses so it is always a difficult situation. If one looks back over the period since 2009 - we went back that far - some 90% of the people going into payment difficulties arrears have ended up with a restructuring solution. I gave the statistics earlier. There are 55,500 live private dwelling mortgage cases, of which 85% are paying normally and working very hard to pay every month. Of the live cases, 10% - or 5,500 people - are performing under some form of restructuring solution with the mortgage arrears restructuring process, MARP. We also have some 3,300 customers, which is really the most difficult part, that go 90 days arrears or more. We are still able to engage with half of this group to find solutions. There is, however, no contact or engagement with the remaining group. We cannot reach those clients and so cannot talk with them. This is the difficult part. As long as communication is going on and there is dialogue then we will find some sort of arrears solution. It is in everybody's interest and certainly in the bank's interest. It is very thorough. The legal process is the very last place we will go. If nothing else happens the independent courts and the legal system are the only way to find some kind of closure, but only after a very long process over many years. Even if one goes through the legal process it too is a lengthy process and at any time in the process if the customer is willing to engage we are open to go out of that process again and find a common solution. With this very thorough process we have learned a lot over the years. The options available have expanded. When one considers the people who are on the arrears solutions, gradually one sees an increasing number moving out and improving. They have come through the difficult situation. There is, however, a cohort of people who are in a very difficult situation. If no dialogue is going on then it is very difficult to advance. I believe the KBC process is extremely thorough and the attention we pay to it in Ireland has impressed me.