Results 1,761-1,780 of 1,974 for speaker:Arthur Spring
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: Approximately.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: The value five years ago would have been roughly zero or heading towards negative territory.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: What was the lowest point of the share price?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: My rough calculation is there was approximately 400% increase from the very lowest point to where it is today. That is largely due to the balance sheet repairing itself. Is that fair enough?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: Obviously the staff had an input. The balance sheet of the bank repaired itself and the value comes from that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: What percentage of the loan book would be property-related, particularly with respect to mortgages?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: That is approximately 200,000 mortgages, or a quarter of the Irish market.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: With the increase in the price of property in Ireland, the balance sheet has repaired itself and, ultimately, the share price has repaired itself. Would that be a logical progression as to how it has worked?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: For a bank, the asset is the loan, and that is secured by the property. The properties have increased in value, so therefore they are more viable and attractive for securitisation. That is where value comes from.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: The witness would acknowledge that the value of property increasing is increasing the value of the bank ultimately.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: We had Ulster Bank here earlier saying the money it is currently providing for site finance and working capital for new home development is about 10% of what it was providing at the height of the boom. If every bank applied that, we would have about 8,000 houses built a year, less than half of where the market is at. I want to know what Bank of Ireland is currently providing for site...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: I have gone through this, and in respect of SMEs Bank of Ireland has €9.6 billion out. The €250 million to €500 million-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: I understand. How many houses would Mr. Boucher foresee being built with the backing of Bank of Ireland? Can we do the quick math on that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: Is site finance built into that or is it just working capital?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: What is the bank's prerogative on supply and demand in mortgages?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: If an individual had 50% pre-sales, would the bank change its rules on working capital?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: If I may say so, it is making it very difficult for the market to catch up with demand. The banks do not seem to be engaging on this at all. We are hearing that between 15,000 and 20,000 houses need to be built per annum and what I can glean from the banks thus far is that this is not the role they want the property market to play in their business.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: I am aware of that. What I am concerned about is people who are trying to get on the ladder. The 80% loan-to-value, LTV, ratio and the decrease on the affordability cash flow means that the price of housing is beyond the reach of many people. Supply is probably the biggest way of correcting that as it would create competition within the market, as Mr. Boucher acknowledged earlier when...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: If the bankruptcy period is reduced from three years to one year, how is that going to affect the bank? What kind of losses does it expect to incur?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: I have gone through this with Bank of Ireland in this committee on a number of occasions. It does not write off debt but rather keeps everybody and anybody on the line. Why would an individual not head towards bankruptcy and crystallise the loss for the bank? Surely that will have a negative impact on the bank's balance sheet.