Kieran O'Donnell (Limerick East, Fine Gael)

The figures are clear. After being recapitalised to the tune of €3.5 billion, Allied Irish Banks will have a tier 1 capital ratio of 8.5%. The bank had an operating loss of €122 million in 2008 and expects further losses in 2009 and 2010. It will make a bad debt write-off of €1.8 billion for 2008 and there are indications that the figure for 2009 will be between €2.9 billion and €4 billion. These figures do not add up. The likelihood is that the bank will require additional funds. That is in the public domain. It is generally accepted that the funds will come from the National Pensions Reserve Fund.

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