Results 8,621-8,640 of 27,945 for speaker:Michael McGrath

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Michael McGrath: I welcome Mr. Duffy and his colleagues and thank them for the statement and information they provided in advance of the meeting. The representatives of all the banks which come before the committee in the weeks ahead will all be challenged strongly on the issue of standard variable rates. Three weeks ago, Fianna Fáil, as an Opposition party, dedicated its Private Members' time in the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Michael McGrath: That figure refers to savings and deposits.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Michael McGrath: Mr. Bourke indicated the net interest margin at the end of last year was 1.69%. What was the net interest margin on standard variable rates?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Michael McGrath: Would it be fair to say that AIB's net interest margin is depressed by virtue of tracker mortgages and is much higher in respect of variable rate mortgages?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Michael McGrath: How many standard variable rate mortgage accounts does AIB hold? I understand it is approximately 140,000.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Michael McGrath: What is the split between owner-occupier and buy-to-let mortgages?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Michael McGrath: Those are owner-occupier standard variable rate mortgages.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Michael McGrath: The trends are clear in that the cost of funds has come down in the past 12 months, the bank's net interest margin is increasing and the bank has returned to strong profitability. What is the profit forecast for 2015?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Michael McGrath: Is it fair to say that if current trends continue, there will be downward pressure on standard variable rates in AIB?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Michael McGrath: Mr. Duffy refers to a period of a month or two. Will that be close to the publication of interim results?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Michael McGrath: Is Mr. Duffy reasonably optimistic that variable rate mortgage customers may benefit from a rate cut?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Michael McGrath: Why is the level of switcher mortgages so low or "minimal" as the bank described it? We need a market in which banks try to persuade customers of other banks to switch their mortgage to them. This is how one creates dynamism and competition in the banking system.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Michael McGrath: Does the bank have a view on the proposed reduction of the discharge period from bankruptcy in Ireland?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Michael McGrath: I wish Mr. Duffy well in his future challenges.

Written Answers — Department of Finance: Bank Branch Closures (23 Apr 2015)

Michael McGrath: 61. To ask the Minister for Finance if he will provide details, in respect of both Allied Irish Banks and Bank of Ireland, of any planned new branch openings or planned branch closures in County Cork, during the remainder of 2015; and if he will make a statement on the matter. [16004/15]

Written Answers — Department of Finance: IBRC Operations (23 Apr 2015)

Michael McGrath: 62. To ask the Minister for Finance further to his Department's publication of the Irish Bank Resolution Corporation's special liquidators' progress update report dated 12 March 2015, if his attention has been drawn to the contents of the National Asset Management Agency rate cards for professional and legal advisors being applied by the special liquidators; if he approved those rate cards;...

Written Answers — Department of Finance: IBRC Operations (23 Apr 2015)

Michael McGrath: 63. To ask the Minister for Finance if he is aware of the contents of the rate cards applicable to professional and legal advisors providing services to the National Asset Management Agency; if he approved those rate cards; the contents of those rate cards; and if he will make a statement on the matter. [16030/15]

Written Answers — Department of Finance: IBRC Operations (23 Apr 2015)

Michael McGrath: 65. To ask the Minister for Finance if he is aware of the basis upon which fees are calculated for professional and legal advisors, in relation to the Irish Bank Resolution Corporation's special liquidation, for those firms not charging by reference to a National Asset Management Agency rate card; if he has approved the relevant rates or fees; the full particulars of the relevant rates or...

Written Answers — Department of Finance: IBRC Operations (23 Apr 2015)

Michael McGrath: 64. To ask the Minister for Finance the names of the professional and legal advisory firms with which he attempted to negotiate fee rebates in respect of the Irish Bank Resolution Corporation's special liquidation, but in relation to which no fee rebate was agreed; and if he will make a statement on the matter. [16031/15]

Written Answers — Department of Finance: Banking Sector Remuneration (23 Apr 2015)

Michael McGrath: 70. To ask the Minister for Finance the number of employees of Allied Irish Banks who were on salaries of between €100,000 and €200,000, €200,001 and €300,000, €300,001 and €400,000, €400,001 and €500,000, and more than €500,000 at the end of December 2014; and if he will make a statement on the matter. [16129/15]