Results 1,621-1,640 of 10,460 for speaker:Gerry Horkan

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Gerry Horkan: An argument is put forward that these customers who get cash back are being subsidised by everyone else. What is Mr. McLoughlin's response to that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Gerry Horkan: Why would anyone go for a variable rate that is almost 50% more expensive? It is perhaps 3% and 4.5%. Why do 12% of new borrowers go with variable?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Gerry Horkan: I said that was the reason 88% were on fixed rates. Why are 12% of customers on variable rates?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Gerry Horkan: I thank Mr. McLoughlin.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Gerry Horkan: It was asked but it was not overly satisfactorily answered, to be fair.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Gerry Horkan: I thank the Chairman.

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

Gerry Horkan: I have a couple of questions, but I will try not to cover stuff already dealt with. On new business, there are many people, particularly in Dublin were there are high rental costs, who if they could secure a mortgage would pay a significantly lower amount than they do in rent. Nevertheless, they have a major difficulty in either finding or saving the deposit, as they might be paying...

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

Gerry Horkan: Is that 36% of the historical or new market?

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

Gerry Horkan: Mr. Mulhall is saying and we accept that the issue with deposits arises from Central Bank rules. The bank takes into account applicants' current circumstances and the fact that salaries are used to pay rent. The money would be available to pay the mortgage instead.

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

Gerry Horkan: On staff numbers, there are approximately 10,000 staff, almost half of whom were recruited in the past four years. The figure is approximately 44%. Therefore, nearly half of the staff across the entire network were recruited in the past four years.

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

Gerry Horkan: We raised this issue last week with Bank of Ireland and will ask all of the banks about it. It concerns the bank's branch network and the services to be provided. Other competitors have moved to a process that they do not describe as cashless, rather they use the term "non-over-the-counter transaction branches". Cash is available from the machines, but one cannot deal with a human being....

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

Gerry Horkan: Bank of Ireland stated only 2% of its transactions were manually conducted, so it seems AIB is doing five times as many such transactions.

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

Gerry Horkan: Mr. Byrne's opening statement mentioned funding for zoned non-planning permission land was a concern.

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

Gerry Horkan: For people looking in who are not experts, the witness is basically saying the bank is there to help them build once they have bought land with equity investors or their own cash or whatever. The bank will finance the building once there is a sure bet, if one likes. I accept the logic of not going back to buying fields all over the place with the idea they may get zoned. They may not get...

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

Gerry Horkan: If someone has land zoned and planning permission on it, and if somebody wishes to buy that land, the bank would be willing to finance it.

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

Gerry Horkan: I am conscious of the time and many other members wish to contribute. There are the challenges of Brexit for the bank's own network and the wider Irish economy. There are potentially some benefits to Brexit. Overall, we all acknowledge that we wish Brexit had not happened and that we would be better off if it did not happen. Where do the witnesses envisage the challenges and benefits to...

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

Gerry Horkan: Mr. O'Keeffe stated the non-performing loan value dropped from €30 billion to €7.8 billion, which is a very significant reduction. Credit has to be given for the reduction. Could Mr. O'Keeffe outline how the €22.2 billion, or thereabouts, has been resolved or taken out of the non-performing loan section, how much involved debt forgiveness and how much involved selling...

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

Gerry Horkan: They are down but just not non-performing loans-----

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

Gerry Horkan: Were the provisions used up or written back? Movement in provisions can happen for many reasons.

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

Gerry Horkan: The reduction from €30 billion to €7.8 billion is approximately €22.2 billion, about €12 billion of which was written off. Some has been paid back but a lot has been moved into performing loans.