Results 6,661-6,680 of 35,592 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: As long as Dr. Hunt is CEO, cash services will be there if the community wants them.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: I welcome that statement. Did the bank inform the Central Bank of its decision?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Would that have happened when it was a proposal or after the fact?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: What type of analysis did the bank carry out in respect of the impact the decision would have had on those customers, including vulnerable customers, using the sites and services? Did it consider the impact of the decision on customers? Did it consider the commercial rationale, the cost of the closures, the likely savings made and all of that which underpinned the decision? Did the bank...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Would it be possible to share that detail with the committee?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Okay. Can our guests share with the committee following this meeting its current branch and cash service distribution throughout the State and how it has changed in the past decade?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: I wish to place on the record my strong view. I will be taking steps through legislative proposals to enure banks of a certain size and customer base have a geographic requirement placed on them which includes cash services. What is Dr. Hunt's opinion in that regard?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: I welcome that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: That decision to keep them open is very welcome. Let me finish on the key point of interest rates. Just like in the time of Covid, AIB’s customers are under huge pressure now. I note the fact the previous interest rate hike of 50 basis points was not passed on by the bank, and I think that was the right decision. It was asked earlier, but the bank's profits were €477 million...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: It is important that Dr. Hunt takes this opportunity to explain, for people who do not understand the intricacies of banking, that if one passes on that increase of 0.75% for variable-rate mortgage holders -and, potentially, it will spill over into fixed-rate mortgages - his bank will make a profit and be in a stronger financial position. Its profits will increase.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: According to the Central Bank, Ireland's banks get more of their profit from net interest income than any other banks in Europe. Is that not the case?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Irish banks stand to benefit most from these interest-rate increases from the European Central Bank.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: It means the banks are in a better position to absorb them.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: I will finish on this point because I understand Dr. Hunt cannot make a decision that the board has not made and that he cannot communicate it here, but can I impress on him to make the right decision? His bank should absorb these costs and not increase its profitability, which would be the consequence of passing them on to the customers. The decision should be made quickly. His bank...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Deputy Durkan will pair with the Chair.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: I welcome the witnesses. Mr. Kelly talked about his commitment to 169 branches. How many has Bank of Ireland closed in the last 18 months?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Bank of Ireland did that in the middle of a global pandemic that was affecting customers. Does Mr. Kelly regret that decision to ignore the wishes of Bank of Ireland's customers, given what we have seen with AIB's U-turn?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: There was a global pandemic. People were encouraged, for health-related reasons, to stay at home. They were encouraged not to go out to shops, banks and so on. Bank of Ireland did this in the middle of all that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Will Mr. Kelly give a commitment that Bank of Ireland will not close any of those branches between now and the end of this decade?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: What is the foreseeable future? Is it the next five years? AIB was able to say that it would not do anything that its customers did not want. It gave a commitment in this committee that it would not withdraw cash services.