Results 18,001-18,020 of 35,756 for speaker:Pearse Doherty
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: Does that mean the bank has 627 properties lying empty at the minute and is offering 280 to the Housing Agency? What is happening to the other approximately 400 properties?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: Did the bank offer all the 627 properties to the Housing Agency?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: Why is it that the agency is not taking 347 of them?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: I am concerned at the number of vacant houses in the bank's stock that are not being taken up by the Housing Agency but which are not on the market either. I do not know what is available at any given time on the market but AIB holds a significant percentage of what could potentially be on the market.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: On split mortgages, does the ECB view the warehoused portion of a split mortgage as a non-performing loan?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: I am sorry to interrupt the witness but I know the Chair will want to allow time to other members. I have a specific question. The ECB will tell us AIB has a particular percentage of non-performing loans. When it makes that calculation, does it include the 100,000 that is in the warehouse portion of-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: The warehouse portion is seen as a performing loan under the ECB criteria.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: AIB announced €814 million in pre-tax profits for the first half of the year. How much tax will be paid on that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: It is.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: When does Mr. Byrne think that will be exhausted? When will the bank begin paying the-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: At the current rate of profitability, it will be 20 years before AIB begins paying tax.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: It is not the witness' fault as Fine Gael is responsible but it is an absolute disgrace that AIB made a profit of €840 million in six months and-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: If that were now changed, the State would not have to put in a penny. It would not have to contribute if we reverted to the decision taken when the legislation went through, which was the right decision taken by the late Brian Lenihan who made it clear that banks should not be able to carry forward 100% of those losses, that they had to start paying a contribution to the taxpayer as soon as...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: If we reverse it now, the State will not have to put in any capital.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: That would have to have been done at that time. However, if the legislation were changed today, would the State have to inject capital into AIB?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: That is my point. I rest my case.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: The return is peanuts compared with the tax return if the bank were only allowed to carry forward a section of those losses. The bank's current profitability is significant and fair play to Mr. Byrne as CEO on recording €840 million profit in six months. On that current profitability, it will take 20 years before AIB pays tax. However, the taxpayer deserves taxes to be paid in full...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: I want to address a final issue, that of tracker mortgages, but there is another topic I wish to deal with first. I stopped in Strabane on the way here this morning because I had to get sterling, and Bank of Ireland no longer offers currency exchange in my local branch. When I went to an ATM to withdraw sterling, there were five language options. Will AIB consider the option of using the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: I will not explore the issue further other than to say that the bank should not be making that decision on a commercial basis. AIB was rescued by the State. Irish is the national language. If a bank in Strabane can offer four or five languages, including Polish and whatever other languages, possibly Spanish, when there are probably not a huge number of people living in Strabane and using...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Allied Irish Banks (26 Sep 2017)
Pearse Doherty: I am referring to the tracker mortgage scandal.