Results 23,341-23,360 of 26,162 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)
Kieran O'Donnell: The sum of €20 billion is just slightly less than the Department of Social Protection's budget, and is about two thirds of our annual tax take. The money was given to AIB on the proviso that it would bring about lending in the real economy. I have spent the greater part of my adult life working with SMEs, but AIB is not lending to SMEs. I have as many of them coming to me now as I...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)
Kieran O'Donnell: I do not see the point in being here if we do not have a robust debate. Mr. Duffy has a job to do and he has come in here, but equally the figures do not lie.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)
Kieran O'Donnell: That is fine and I appreciate that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)
Kieran O'Donnell: Will Mr. Duffy explain why the figure is so low?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)
Kieran O'Donnell: Is Mr. Duffy saying that if there was a demand for new lending of €3.5 billion AIB would be lending it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)
Kieran O'Donnell: There is probably a historic element about that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)
Kieran O'Donnell: With due respect, Mr. Byrne, I do not want to interject but my time is limited. A lot of the lending AIB did to the SME sector during the so-called Celtic tiger period was asset-backed.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)
Kieran O'Donnell: What skill set does AIB have? Mr. Duffy is talking about going back to the branch network. I saw business proposals sent to AIB which I thought were reasonable but which were turned down. AIB is closing eight of its 18 branches in Limerick, the highest percentage of any branch network outside County Donegal. This year in County Donegal there is only one branch closing, while in Limerick...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Kieran O'Donnell: Mr. Dukes may have touched on this already but I refer to the scenario in which he maintains it would be possible to wind up Anglo Irish Bank earlier. Second, is IBRC required to maintain the same capital ratios as a normal commercial bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Kieran O'Donnell: It was more on the aspect whereby Mr. Dukes spoke of maintaining the capital base. Were IBRC not required to maintain the capital ratio at the same level, it would provide opportunities for the State.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Kieran O'Donnell: With a fair wind, how early could IBRC wind down?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Kieran O'Donnell: And from NAMA.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Kieran O'Donnell: Mr. Aynsley has suggested IBRC could more than halve its loan portfolio by the end of 2014.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Kieran O'Donnell: The Chairman indicated that I was next to speak.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Kieran O'Donnell: Thank you, Chairman. In the limited time available to me, I will focus on some specific points. Mr. Dukes referred in his opening statement to the final cost of the wind-down operation. What does he anticipate will be the residual value of Anglo Irish Bank's balance sheet when it is wound up? The context to my question is, of course, the promissory note. When does Mr. Dukes expect that...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Kieran O'Donnell: Does Mr. Dukes anticipate that will happen in 2020?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Kieran O'Donnell: Can Mr. Dukes be more specific?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Kieran O'Donnell: Will he give us an estimated time?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Kieran O'Donnell: Mr. Dukes has indicated his expectation that it will be done in advance of 2020. I am simply asking for a more specific estimate.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)
Kieran O'Donnell: What was the anticipated residual value at the time the promissory note was put in place? I am trying to ascertain whether that estimate has changed in the interim.