Results 6,621-6,640 of 35,563 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Does Dr. Hunt have any idea what the Government reaction was to the letters it received in regard to this, in particular the Minister for Finance?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: I was one of the politicians who contacted AIB to ask it to reverse the decision.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Did the Minister for Finance contact the bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: We see from the freedom of information, FOI, releases that the day after the announcement, which, as Dr. Hunt said, was the day the bank was starting to make the decision to change track, the Department reached out looking for speaking points. Was it not the case that the bank answered some of the concerns it was getting?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Okay, and AIB provided speaking points stating it was an arm's length commercial decision and access to cash services would be through the post office and so on, all the stuff that was in the press release. If that was the conversation with the Department of Finance on the day Dr. Hunt says the board started to change-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Yes. Is that the communication that was taking place with the Department? Was the Department in any way in tune? It is hard to understand this because we have a Department and a Minister who, based on all the written records, did not raise an issue with AIB. The Minister was aware, or at least his officials were, before the board made the decision that this change, which caused uproar,...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Is Dr. Hunt concerned that he leads an organisation with a board that is so out of touch with his customers' opinion that it was forced within three days into a massive U-turn that made international headlines and was completely unaware of the insensitive decision that it took? This was days after the bank was given the largest ever fine for the shenanigans that went on in it with the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: I will get on to other questions in a moment. We can see the indicators for AIB regarding what is being achieved in terms of profitability and market share. That is very important and the board and Dr. Hunt are driving all of that. However, we have heard from Dr. Hunt's predecessors. We have been in these rooms or rooms similar to these during the tracker mortgage scandal, which I will...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: The State holds the majority of shares in the bank. There was political uproar. The Minister for Finance did not say anything about it but there was political uproar. It was a major issue. The bank is State owned. Its customers have been complaining about other matters on which the bank did not change tack. I have listened to our guests' commentary. They have said they got ahead of...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Will our guests give me a guarantee that cash services will not be taken out of those 70 branches? If they do, I will withdraw my comment.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Is Dr. Hunt giving a commitment here and now?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: As long as Dr. Hunt is CEO, cash services will be there if the community wants them.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: I welcome that statement. Did the bank inform the Central Bank of its decision?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Would that have happened when it was a proposal or after the fact?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: What type of analysis did the bank carry out in respect of the impact the decision would have had on those customers, including vulnerable customers, using the sites and services? Did it consider the impact of the decision on customers? Did it consider the commercial rationale, the cost of the closures, the likely savings made and all of that which underpinned the decision? Did the bank...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Would it be possible to share that detail with the committee?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Okay. Can our guests share with the committee following this meeting its current branch and cash service distribution throughout the State and how it has changed in the past decade?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: I wish to place on the record my strong view. I will be taking steps through legislative proposals to enure banks of a certain size and customer base have a geographic requirement placed on them which includes cash services. What is Dr. Hunt's opinion in that regard?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: I welcome that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: That decision to keep them open is very welcome. Let me finish on the key point of interest rates. Just like in the time of Covid, AIB’s customers are under huge pressure now. I note the fact the previous interest rate hike of 50 basis points was not passed on by the bank, and I think that was the right decision. It was asked earlier, but the bank's profits were €477 million...