Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance following the conclusion of the trial of two men in Britain who were convicted of defrauding Allied Irish Bank in a scheme whereby £740 million has been advanced by AIB based on bogus documents, if he will outline the response by AIB to the fraud; the steps that have been taken to prevent a reoccurrence of such a fraud; and if he will outline any sanctions or disciplinary action taken by AIB against employees responsible for the approval of the loans. [6618/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance following the conclusion of the trial or two men in Britain who were convicted of defrauding Allied Irish Bank in a scheme whereby £740 million had been advanced by AIB based on bogus documents, if he will confirm the bank's policy with respect to accepting hospitality from borrowers; and if he will provide an assessment as to whether the hospitality outlined in the trial was accepted in breach of its policies. [6619/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance following the conclusion of the trial or two men in Britain who were convicted of defrauding Allied Irish Bank, if he will provide an estimate of bonuses and commissions paid to its employees relating to the advancing of the loans. [6620/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance following the conclusion of the trial of two men in Britain who were convicted of defrauding Allied Irish Banks if he will outline the way AIB ensured that it maximized the sale price in the disposal of the portfolio of properties subject to the loans to Green Property; the way the portfolio was marketed to ensure potential purchasers were aware of the sale; the way AIB ensured each potential purchaser had access to equal information about the portfolio; and if he will state when it began marketing the portfolio to the market and when the sale closed. [6621/13]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 201 to 204, inclusive, together.

AIB has informed me that the Bank is satisfied that it took all necessary steps to maximise value and minimise losses when selling this portfolio of properties to Green Property during very difficult market conditions.

Unfortunately, as normal customer confidentiality applies between Green Property and AIB, the Bank is not in a position to comment on any of the details of this transaction. AIB can confirm however that it has taken steps within its controls to prevent a re-occurrence of such a fraud.

AIB does not comment specifically on issues relating to current or former individual staff members. The events that the Deputy refers to occurred over a period of years prior to 2008. Since the State Guarantee in 2008 AIB has completely overhauled its management and governance structure. This included the appointment of a new Board and Management Team, all of whom have been appointed since 2009. AIB has continually updated its Code of Conduct for employees, incorporating a policy on corporate hospitality, which is strictly enforced. This code is also available on AIB’s Group website.