Results 13,101-13,120 of 16,492 for speaker:Ciarán Lynch

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: Is it AIB merchant services?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: Am I correct in my understanding that up to recently businesses operating such debit points with AIB merchant banking rented the machine on a monthly basis?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: I understand that recently the contract of every business that had dealings with AIB merchant banking has been changed and businesses have now moved from a rental to a lease model. Is that correct? Some 40,000 businesses or more have been flipped over to a lease model - a lease being a determined agreed period. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: The witness should answer the question as it is asked.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: In Mr. Byrne's estimation there are 40,000 or 50,000 of these debit points. Up to recently, these were rented on a monthly or weekly basis. Therefore, if a business decided not to use them any more, they walked away from them. However, from what I understand, AIB market banking has now engaged with a German company, First Data Global Leasing, and all of these machines are now on a two to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: Nonetheless, AIB is a partner.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: I would like to emphasise for AIB that businesses are struggling on a week-to-week basis and in terms of cash flow are counting the lodgment they make to this on a week to week basis. If they had to close in the morning, they would have an exposure of several thousand euro for these machines for another two or three years, even though no longer trading. This indicates a poor level of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: I would be very grateful if AIB could provide the committee with a full briefing on that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: Very good. I now call on Deputy Twomey.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: That should be the Deputy's final question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: The Deputy should put it now, because I will not get back to him.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: The Deputy's question should be specific. Then we will move on.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: Before I bring in Deputy Twomey, I would like to put some questions and recap on or our position. It is interesting to listen to the discourse here and to hear the different terms used. This morning, Mr. Alan Dukes was very averse to the use of the term "product" when we were discussing these matters, so I find it interesting that AIB is talking about "product" ranges this afternoon....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: After hearing the final reply to Deputy Pearse Doherty, we will hear from Deputy Arthur Spring.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: Briefly, please.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: I am sorry, but I must call Deputy Doherty.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: Four or five minutes remain.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: I thank Mr. Duffy. With the committee's permission, I will publish his opening statement. Is that agreed? Agreed. I will defer my questioning until the end of the first round, but let me put this question to Mr. Duffy before I invite other members to contribute. Does he have a response to Ms Fiona Muldoon's recent comments which were very much directed at his bank and Bank of Ireland,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: We will now turn to item No. 7 of our overview of the issues facing the economy and the banks. I welcome the following witnesses from AIB: Mr. David Duffy, chief executive; Mr. Bernard Byrne, director of personal, business and corporate banking; Mr. Fergus Murphy, director of products; Mr. Paul Stanley, acting chief financial officer; and Mr. Enda Johnson, head of corporate affairs and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of AIB: Discussion (31 Oct 2012)

Ciarán Lynch: Yes, we have.