Results 6,661-6,680 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: The company that Bank of Ireland sold the ATMs to does not need that approval. Is that not the case?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: A "period of time", but it is not regulated in the same way in terms of its fee structures because it is not a financial institution. Is that not correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: It is a service provider.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: That is the problem. As banks are packing up sticks in terms of providing access to cash, we are left at the mercy of a company that has given a commitment at this point in time, but we have seen in other jurisdictions the same company charging high fees for accessing cash. Someone who does not have a great deal of money and cannot go to an ATM to take out €300 or €400 but has...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Was Bank of Ireland losing money on the ATMs?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: That is like saying that Bank of Ireland is going to fold because AIB exists. They are in competition and Bank of Ireland should be providing a full service. Where rural Ireland is concerned, I am disappointed that Bank of Ireland closed the branches and then took away the ATM machines. It goes against the grain of access to cash as well as environmental issues. People have to travel on...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: We will not go into the fact that it is not paying tax on those profits. The bank has increased its lending by 7% and its total income from net interest has increased, so it is in a strong financial position for the time ahead. It has increased its market share in the mortgage market because of the withdrawal of other banks. Its personal customer base has increased. It has acquired Davy....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: When will the bank make the decision?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: All bankers keep variable interest rates under review. Is that a fair comment to make?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: This is significant. There has been a record increase of 75 basis points by the ECB. People out there are looking at the winter ahead, the energy crisis and the cost-of-living crisis, and they are thinking about Christmas and wondering whether, if they have a €200,000 mortgage over 20 years, they will pay €800 more in interest to Bank of Ireland. They want certainty but Mr....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Has the board discussed the ECB interest rate increase?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Does Mr. Kelly expect that, at the next board meeting, the ECB interest rate increase will be discussed and options will be thrashed out?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: What percentage are on variable rates?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Bank of Ireland charges the highest variable rate in the market. It is crazily high at twice the European average. In fact, it is 1.8 times the rates of some operators in Ireland. Bank of Ireland is charging 4.5%.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: On 90% loan-to-value mortgages.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: AIB is charging 3.5%.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: In all sincerity, it would be the height of madness to be on a fixed rate with Bank of Ireland, given what is available in the market from its competitors. A person may as well go to an ATM, if one can be found, take out a couple of thousand euros and burn it, because that is what is happening. That person is just giving away money that should not be given away. Thousands of euro can be...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Mr. Kelly’s bank knows that there is a cohort of individuals who will take out a mortgage, fix the rate - as 60% of them have done with his bank - come off a fixed period and end up on a variable rate period. Because of inertia, perhaps fear and not understanding rates, they will be on that rate, and Mr. Kelly’s bank is creaming it. Does Mr. Kelly believe that his bank's...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Why would anybody who understands rates be on a variable rate with Mr. Kelly’s bank when they could be with AIB, which charges 1.35% less?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)
Pearse Doherty: Why? Give me an example, please? Why would anybody pay Mr. Kelly’s bank thousands of euros more on a variable-rate mortgage than they would pay AIB?