Results 13,821-13,840 of 26,042 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: Cash back is only relevant for new customers.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: The witness would appreciate that somebody with a mortgage with EBS that is similar in profile at every level with that of an AIB mortgage, and considering that AIB owns and controls EBS, would pay a different rate. Surely there should be consistency across the group in terms of the standard variable rate charged to existing customers. I am not referring to new customers but to ordinary...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: I presume it reports to Mr. Byrne.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: Would it be fair to say the tracker book in AIB as a percentage of the overall book at 34% is on the low side relative to some of its competitors?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: Following from that, what is the rate of tracker mortgages as a percentage of the loan book that EBS would have? Would it feed into the fact-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: I assume EBS reports to Mr. Byrne and he is on the board. Normally we might get one email on an issue but we have had floods of email on this. It is a live issue for AIB and we ask for consistency on it.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: There are a few practical questions. The word is KPMG is at AIB now looking at its loan book and doing due diligence for the potential sale of loans. The witnesses spoke earlier about getting ratios down to a certain level for the loan book. Will the witnesses confirm if KPMG is doing due diligence on the loan book? There is a nervousness in the small and medium enterprise sector and the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: Would it be fair to say that, as of this moment, AIB has not sold on any home loans or SME loans per seto any vulture funds?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: And, obviously, the other loans that would have gone to NAMA in terms of development.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: What is coming up with the SME sector we are meeting - I refer to family-owned businesses and so forth - is that, in certain cases, some of their loans are very much asset based. During the relevant period, they would have invested in property, in many cases in regard to the business. They now find their loans may not be sustainable at the current level but that the asset values in respect...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: It is a pretty common theme.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: AIB is doing write-offs.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: Even where they are asset backed?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: It is coming across more particularly in regard to farms. In some cases, one might have borrowed to invest, the security being the family farm. Effectively, the land is worth a lot more than the sustainable value of the loan. What view is AIB taking on farms? AIB would probably have the largest number of agriculture or farm loans.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: When does AIB anticipate that the ongoing review of the loan book will be concluded, and when will a decision be made as to whether it is selling on a significant proportion of its loan book in respect of the SME and home loan sectors? The buy-to-lets have been dealt with at this stage through selling on.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: It is a dual strategy, a parallel strategy.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: The question I am asking is a pinpoint question. Could we have a situation in the not-too-distant future in which AIB will be selling a substantial SME or home loan book to a vulture fund?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: What about the SME sector, including the agriculture loan book?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: Let me narrow it down and ask a specific question. For the SME and farming sectors, could there be circumstances in a relatively short period, as in over the next two years, in which their loans that are currently with AIB could end up being sold to an investment fund or vulture fund?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Kieran O'Donnell: Including write-offs.