Gerry Adams (Louth, Sinn Fein)
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To ask the Minister for Finance the total number of apartment units located here either owned or securities for loans that have been sold by AIB, Bank of Ireland, INBS, Anglo or the National Asset Management Agency since 2010; if he will detail the total number of apartment units located here either owned or securities for loans in the non-core sections of AIB, Bank of Ireland and Permanent TSB; if the total number of apartment units located here either owned or securities for loans in Irish Bank Resolution Corporation and NAMA; and if he will make a statement on the matter. [53221/12]

Michael Noonan (Limerick City, Fine Gael)
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I set out below the responses I have received in relation to the Deputies query:-

Bank Of Ireland

Bank of Ireland gives significant and comprehensive disclosure on its Retail Ireland Residential Mortgage portfolio, including disposals, in pages 107-117 of its Interim Report for the Six months to 30 June 2012, and gives further significant and comprehensive disclosure on its asset quality, including in connection with Retail Ireland residential mortgages, in pages 25-29 of this Interim Report. Bank of Ireland confirms, per the European Commission’s published decisions regarding the State Aid given to Bank of Ireland that Irish mortgages fall within our core portfolio.

Bank of Ireland does not provide disclosures in the areas requested other than as set out above.

PTSB

Permanent TSB has 13,111 loans outstanding on apartment units in Ireland as at the end October 2012. All of these apartment units are in the core section of the bank. If Permanent TSB is approved for full separation into an Asset Management Unit and Permanent TSB, a number of loans will be transferred into the Asset Management Unit, including some of those on apartment units. These loans have yet to be chosen.

IBRC

I have been advised that IBRC is not in a position to respond to questions relating to its loans or other asset levels between its financial reporting dates, as these matters have a market dimension that is commercially sensitive. The Bank’s annual and interim reports provide transparency around the Bank’s loan and asset inventory position at those dates which provides a variety of perspectives on these areas.

AIB

AIB makes detailed disclosures in respect of its mortgage book on a semi-annual basis as part of its regulatory reporting requirements. The mortgage book data is shown on an aggregate basis and also split by owner occupier and buy-to-let. AIB has not historically made disclosures in respect of a sub class of apartments.

The relevant data in respect of AIB’s mortgage books as of June 2012 can be found on page 35 of AIB’s Half Yearly Financial Report 2012 and for year end 2010 and 2011 on page 117 of AIB’s 2011 Annual Financial Report. Data prior to December 2010 has not historically been disclosed in AIB’s accounts.

NAMA

NAMA estimates, at this stage in its analysis, that its Irish residential property portfolio includes some 8,400 completed apartment units. NAMA advises that of this total, approximately 6,500 apartments are currently being rented and that 230 have been sold to date.

NAMA advises that these figures reflect the relative strength of the rental market for apartments in the main urban areas in which NAMA debtor and receiver properties are concentrated. NAMA advises that its strategy in the apartment market is aimed at maximising income. Current demand is for apartment rental rather than purchase. Since inception NAMA has, through its debtors and receivers, secured tenants for approximately 4,000 previously vacant apartments in Ireland. NAMA further advises that it is currently generating over €100 million per annum in recurring rental income receipts from residential assets controlled by its debtors and receivers in Ireland.

Gerry Adams (Louth, Sinn Fein)
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To ask the Minister for Finance the total number of owner occupier loans for apartment units located here in AIB, Bank of Ireland, Permanent TSB, and Irish Bank Resolution Corporation; if the total number of owner occupier loans located here for apartment units that are currently in arrears in AIB, Bank of Ireland, Permanent TSB and IBRC; if he will detail the total number of apartment units located here included in buy to let loans in AIB, Bank of Ireland, Permanent TSB and IBRC; if the total number of apartment units located here included in buy to let loans which are in arrears in AIB, Bank of Ireland, Permanent TSB and IBRC; and if he will make a statement on the matter. [53222/12]

Michael Noonan (Limerick City, Fine Gael)
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I set out below the responses I have received in relation to the Deputies query:-

Bank of Ireland

Bank of Ireland gives significant and comprehensive disclosure on its Retail Ireland Residential Mortgage portfolio, including disposals, in pages 107-117 of its Interim Report for the Six months to 30 June 2012, and gives further significant and comprehensive disclosure on its asset quality, including in connection with Retail Ireland residential mortgages, in pages 25-29 of this Interim Report. Bank of Ireland confirms, per the European Commission’s published decisions regarding the State Aid given to Bank of Ireland that Irish mortgages fall within our core portfolio.

Bank of Ireland does not provide disclosures in the areas requested other than as set out above.

IBRC

I have been advised that IBRC is not in a position to respond to questions relating to its loans or other asset levels between its financial reporting dates, as these matters have a market dimension that is commercially sensitive. The Bank’s annual and interim reports provide transparency around the Bank’s loan and asset inventory position at those dates which provides a variety of perspectives on these areas.

AIB

AIB makes detailed disclosures in respect of its mortgage book on a semi-annual basis as part of its regulatory reporting requirements. The mortgage book data is shown on an aggregate basis and also split by owner occupier and buy-to-let. AIB has not historically made disclosures in respect of a sub class of apartments.

The relevant data in respect of AIB’s Republic of Ireland residential mortgage book as of June 2012 can be found on page 30 - 32 of AIB’s Half Yearly Financial Report 2012.

PTSB

Please see the below table for a breakdown of our loan portfolio as it relates to apartment units