Results 13,821-13,840 of 26,053 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: It would be fair to say that loans of the order of €11 billion to €12 billion come from GRG. Therefore, that group as a division was effectively the vehicle through which loans ended up in investment vulture funds.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: In substance, the loans that were sold were managed for a significant period by the GRG.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: The greater majority of loans that were managed by the GRG ended up in investment vulture funds. In substance, that is what happened. The ordinary business person looking in might ask whether the GRG was set up as a vehicle to sell off loans that were causing difficulties for the balance sheet of Ulster Bank in order that the bank itself would not be seen to sell loans directly to...

Seanad: Nursing Homes Support Scheme: Statements (3 Oct 2017)

Kieran O'Donnell: I welcome the Minister of State. I want touch on a number of points in regard to the nursing home support scheme, which is a very important scheme. We all have people coming to us who are going into nursing homes. It is a very traumatic time for the families and the individuals themselves. The nursing home support section in Limerick does fantastic work and we all deal with such people on...

Seanad: Housing: Statements (28 Sep 2017)

Kieran O'Donnell: I will try to do it in three minutes. I welcome the Minister for Housing, Planning and Local Government, Deputy Eoghan Murphy, to the House. This is an extremely important debate. To put my contribution in context, I will speak on the area I know best, Limerick. There is an issue with the provision of housing in Limerick city. There is a perception that Limerick has a very large stock of...

Seanad: Mid-Term Review of Capital Plan: Statements (27 Sep 2017)

Kieran O'Donnell: I welcome the Minister of State to the House. I regard this as a very important and critical debate. We have come out of a period of great difficulty where our country was bankrupt and where we were effectively borrowing to keep the lights on. We have now reached a stage where we are returning to full employment. We must get back to what would be the normal levers of Government, one of...

Seanad: Mid-Term Review of Capital Plan: Statements (27 Sep 2017)

Kieran O'Donnell: All help would be welcomed. I looked at the submissions made in the context of the mid-term review and a substantial proportion of them referenced the M20 project. Coming from Limerick, the Minister of State will know just how important that road project is in having an Atlantic corridor which links Cork, through Limerick, with Galway as a counterpoint to Dublin. The new Tuam-Gort bypass...

Seanad: Order of Business (27 Sep 2017)

Kieran O'Donnell: The acoustics are better.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: I was slightly delayed so the issue I will raise may have been covered. A significant number of people have contacted us about the differential in rates between EBS and AIB. This may have been discussed but will the witnesses reaffirm the position? The standard variable rate for AIB is 3.15% and for EBS it is 3.7%. Where there has been a reduction in the ECB rate AIB normally passes it...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: The group has concerns with EBS.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: Cash back is only relevant for new customers.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: The witness would appreciate that somebody with a mortgage with EBS that is similar in profile at every level with that of an AIB mortgage, and considering that AIB owns and controls EBS, would pay a different rate. Surely there should be consistency across the group in terms of the standard variable rate charged to existing customers. I am not referring to new customers but to ordinary...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: I presume it reports to Mr. Byrne.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: Would it be fair to say the tracker book in AIB as a percentage of the overall book at 34% is on the low side relative to some of its competitors?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: Following from that, what is the rate of tracker mortgages as a percentage of the loan book that EBS would have? Would it feed into the fact-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: I assume EBS reports to Mr. Byrne and he is on the board. Normally we might get one email on an issue but we have had floods of email on this. It is a live issue for AIB and we ask for consistency on it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: There are a few practical questions. The word is KPMG is at AIB now looking at its loan book and doing due diligence for the potential sale of loans. The witnesses spoke earlier about getting ratios down to a certain level for the loan book. Will the witnesses confirm if KPMG is doing due diligence on the loan book? There is a nervousness in the small and medium enterprise sector and the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: Would it be fair to say that, as of this moment, AIB has not sold on any home loans or SME loans per seto any vulture funds?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)

Kieran O'Donnell: And, obviously, the other loans that would have gone to NAMA in terms of development.