Results 7,121-7,140 of 26,042 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: I welcome Mr. Masding and his colleagues. When does Permanent TSB expect to be in profit?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: Has that to do with write-backs? Obviously Mr. Masding will have seen today that the Central Bank is nervous about the level of write-backs that some of the banks are going to deal with because of the increase in the value of property.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: Did Mr. Masding say earlier that the Permanent TSB's net interest margin is 88 basis points?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: That is significantly lower than those of Bank of Ireland and the AIB.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: Bank of Ireland told us its net interest margin was 208 basis points. AIB appears to have indicated that theirs is about 160 basis points. That equates to 2.08 % and 1.6%, respectively.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: Did Mr. Masding say Permanent TSB's was less than 1%, at 0.88%?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: That seems very low. Yet Permanent TSB's blended cost of funds is 1.74%. AIB's is about 1.64%, yet it has come up with a net interest margin that is double that of Permanent TSB. AIB's blended cost of funds does not appear to be significantly cheaper. I am wondering why.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: What are those non-core elements? What is the one that is pulling back?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: In the limited time remaining I want to ask about the funding model. Where does Permanent TSB's funding come from at this stage? Is it deposits? Is it ECB funding? Is it inter-bank lending? What is the make-up of Permanent TSB's funding model?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: Where is Mr. Lucken including deposits in that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: What are they making up, percentage-wise?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: What is the loan-to-deposit ratio at the moment?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: I welcome the fact that Permanent TSB is still around. It is extremely important for the Irish banking market to have as many competitors as possible. Let us compare the interest rates of Permanent TSB with those in the UK. For a loan-to-value ratio of about 70%, the bank is charging about 4.25%. A similar institution in the UK is charging less than half of that, at 2.19%, even though...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: So the situation does not arise. The point I am making is that Ireland has a singular problem at the moment. We have a lack of competition in the market and we have banks that received taxpayers' money not passing on the lower cost of funds to the consumer in the form of lower rates. In that context, I would welcome Permanent TSB's observations on the Irish market. Historically, the view...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: That was down to regulation and was not all necessarily due to competition.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: Does PTSB have any ECB funding?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: When does PTSB expect to have that cleared?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: Let us get back to the tracker issue.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: Is that 95 customers out of a total of 56,000 or so? That seems relatively low.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Permanent TSB (12 Nov 2014)

Kieran O'Donnell: It is based on people selling and moving.