Results 18,081-18,100 of 35,788 for speaker:Pearse Doherty

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: And he is not aware of the interest rates of his bank's main competitors?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: The witness is head of retail for Bank of Ireland and he is asking this committee to believe that he is unaware of AIB's interest rates.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: It is significantly lower than Bank of Ireland. Bank of Ireland is probably the outlier in the industry in terms of loan to value rates. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: Which financial institution would have a higher rate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: For anyone out there who is being charged a 4.5% interest rate by Bank of Ireland at a time when the Central Bank's interest rates are at an all-time low, can the witness explain how much it costs Bank of Ireland to actually borrow that money for which the 4.5% is charged?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: Perhaps the witness would answer the question. What is the cost to the bank of those funds?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: Is the witness telling the committee that there is no figure?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: What is the blended number?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: How can Bank of Ireland justify charging almost double what the EU average is for variable interest rates? Is that not simply gouging the customers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: Even in Ireland, Bank of Ireland's main competitor, AIB, has just announced a quarter per cent interest rate reduction. Its variable rates are below 3% for certain products, so even if we take like on like and compare the pillar banks in Ireland Bank of Ireland is way behind AIB on the price of products. How can the witness justify the fact that Bank of Ireland is gouging its customers by...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: I will move on to the issue of the number of accounts in arrears. We have seen that there is a significant fall from 2013 to today. It is still not acceptable, in my view, that almost ten years on from the crisis there are still so many in arrears, but we have 4,083 compare with 11,116 in 2013. It says that there are 486 such homes in forbearance and 2,283 in some sort of legal process,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: There is a significant drop in the number of arrears. Some of them are in forbearance; some are in the legal process. The question is: did the bank sell any of those loans on?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: None of them has been sold to a third party.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: Approximately 2,283 family homes are in the legal process, are repossessed or are in voluntary repossession. We can touch on that later. How many vacant properties does Bank of Ireland hold at this point in time, either voluntarily surrendered property or properties that were repossessed on foot of a court order or whatever?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: Note 1 on page 2 states:To date Bank of Ireland has submitted 319 eligible cases to the Housing Agency since inception. At the end of H1 2017, 57 cases have completed and a further 19 are under contract. What do those figures mean? How were the 319 eligible cases deemed eligible? Are these all of the houses that were repossessed or voluntarily surrendered? How is that quantified? Does...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: Are there any indications that those figures will significantly ramp up in the short term? Whether it is 57 or 59, the figures seem pathetically low in the context of the scale of the crisis we have. Is there any indication that some of the obstacles - be they at the door of the bank, housing agencies or whoever - are about to be resolved?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: Obviously the bank does its own internal research of the housing sector. Does it expect to see house prices continue to increase and if so at what rate? What impact will that have on new mortgages for PDHs?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: Does the bank have an internal number it uses for expected price increases for next year?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: We are aware of the bank's share of the mortgage market. Is the bank increasing funding to developers who will build the houses to be bought eventually by the principal dwellers? Has the bank seen a significant pipeline of lending to developers? What is the trend?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Bank of Ireland (21 Sep 2017)

Pearse Doherty: The bank has decided to withdraw its services from branches in many small towns and urban areas. It has gone cashless in many of its facilities. The committee welcomes that the bank has taken a different decision from AIB and Ulster Bank, in not closing its physical premises. However, it offers no currency exchange. People can no longer lodge coins or withdraw cash from across the...