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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB
(9 Apr 2019)

Gerry Horkan: Mr. Masding probably has a few share options.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB
(9 Apr 2019)

Gerry Horkan: Does Mr. Masding advocate for the level of capital requirements to change?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB
(9 Apr 2019)

Gerry Horkan: I thank Mr. Masding. What is PTSB's market share of new mortgage business?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB
(9 Apr 2019)

Gerry Horkan: We get surveys of who is ahead in the supermarket wars where it is claimed that Dunnes Stores has this and Aldi has that. I am not comparing apples with apples, but where is PTSB positioned among the five main banks in terms of its size? The five main banks probably comprise 100% of the retail market. What percentage of space does PTSB occupy? PTSB is larger in some areas than others....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB
(9 Apr 2019)

Gerry Horkan: What are PTSB's specialisms? Of the areas in which it specialises, what does Mr. Masding regard as the bank's key strengths?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB
(9 Apr 2019)

Gerry Horkan: Is that NPL?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB
(9 Apr 2019)

Gerry Horkan: To be fair, I do not believe that Mr. Masding has been overconfident. His approach is more welcome than coming in brashly would be. It is better to be straight up with us. I will pick up on one of his comments to Deputy McGrath. He stated that we were closer to the end of the positive cycle than to the start. While 2008 was 11 years ago, it is probably alive and strong in many people's...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB
(9 Apr 2019)

Gerry Horkan: Mr. Masding kind of did in his statement.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB
(9 Apr 2019)

Gerry Horkan: I will touch on a couple of points that have not been addressed yet. Mr. Masding might discuss pay reviews, the cap on salaries and so on. The committee has asked all banks to address Brexit, banking culture and reviews, but Mr. Masding only had one sentence in his opening statement - "We support the banker accountability framework" - and did not elaborate much on what we asked him to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB
(9 Apr 2019)

Gerry Horkan: Ideally.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB
(9 Apr 2019)

Gerry Horkan: How many exceptions can the bank give or what percentage of exceptions is allowed? I am not overly familiar with the exception regime. If any of the witnesses is able to explain it to those who might be looking in trying to understand it, that would help.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Permanent TSB
(9 Apr 2019)

Gerry Horkan: I am conscious of time and the Chairman has indulged me.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)

Gerry Horkan: I want to ask some questions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)

Gerry Horkan: I hope we can extend this discussion a little. Everyone else had 20 or 25 minutes but I will try to be as brief as I can.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)

Gerry Horkan: I accept that but it is an important topic.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)

Gerry Horkan: I thank Ms Murray and Mr. Boland for their contributions and I thank their association for all it is doing. The three big asks I am taking from the discussion is to get the Garda fraud unit set up as quickly as possible. Where are they with the Minister, Deputy Flanagan, or the Minister of State, Deputy D'Arcy? Are they playing pass the parcel with each other? Is one saying it is not a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)

Gerry Horkan: That was a robust presentation outlining the company's presence in the market. It is welcome that we have at least one indigenous motor insurer. It is, perhaps, a reflection on the Irish insurance market that we only have one surviving indigenous operator and a number of multinationals. There are probably much fewer participants in the market now than was the case previously. Much of that...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)

Gerry Horkan: Does Mr. McMahon have a percentage for such claims? He stated that there is a significant number of them, but is it 10% or 45%? There are payouts to people who have suffered losses and legitimately claimed for them. There is a percentage amount for fraud, exaggeration and payouts for people who broke a fingernail or whatever, and then there are real claims. Has Mr. McMahon a breakdown of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)

Gerry Horkan: The €10,000 in Mr. McMahon's example relates to compensation rather than litigation expenses.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)

Gerry Horkan: That does not answer the question. If FBD Insurance receives 100 claims, how many of those are legitimate, how many are subjectively legitimate or exaggerated, and how many are fraudulent?

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