Results 10,501-10,520 of 27,945 for speaker:Michael McGrath
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: From the bank's point of view, the matter is closed and, with the exception of the appeals process-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: If customers want to take it further, they have the appeals process, the ombudsman and then the court.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: I suspect that is where this issue will end up and that it will go the distance. There is a legitimate issue there. It is down to interpretation and I think it is going to be decided in a court of law. It would have been far better if it could have been resolved to the customers' satisfaction at the level of the bank but that is not going to happen.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: We have.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: For the overall cost, the bank's provision is about €230 million. Is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: That includes redress and compensation. Are the administrative costs to the bank included?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: Has the bank made provision for a possible enforcement fine?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: There is an ongoing enforcement investigation by the Central Bank.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: I want to ask Mr. Byrne about the EBS mortgage rates. Why is there a 55 basis point difference between the AIB rates and the EBS rates? People view EBS and AIB as one and the same thing now. Perhaps Mr. Byrne might clarify the standing of EBS within AIB. What is it as an independent entity and why is there a difference of more than 0.5% in the variable rate mortgage offer?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: The witnesses see EBS as competing with AIB.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: In terms of new mortgage drawdowns, what is the current market share for AIB and EBS respectively?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: That is about 30% combined.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: I will allow Deputy Mattie McGrath to proceed.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: I wish to ask Mr. Byrne about NPLs. Project Redwood has been sold. How much has the sale reduced the ratio?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: How will the bank reduce the percentage to 4% or 5%?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: Are further portfolio sales planned at this point?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: When is the bank's next trading update?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: Has the bank published its profit forecast for 2018?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: On the housing market, there is a growing affordability crisis for young couples and individuals who want to buy, and for people who want to trade up, in terms of houses and apartments. The Central Banks rules are in place, which have acted as a slight brake on property price growth. How does the bank view the market? Is it concerned about the market? Where does it see the market going?...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Allied Irish Banks (21 Jun 2018)
Michael McGrath: Does the bank see prices continuing to go up until supply increases?