Oireachtas Joint and Select Committees

Wednesday, 1 February 2023

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

Engagement with Ulster Bank and KBC Bank Ireland

Mr. Darragh Lennon:

We closed approximately 3,000 accounts in December. The balance on those was very limited. There was approximately €30,000 in the 3,000 accounts. The majority of the balances was €10 or less. We also froze another 11,000 accounts in January. I do not have the figure to hand as to the total balance on those, but we can come back to the committee with the figure. In the vast majority of those accounts, approximately 10,000 of them, the balance was less than €50. It was pretty limited.