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Dublin: 11 °C Friday 28 November, 2014

‘It’s like being in a maze’: FG TD tells BOI chief he is not facilitating committee

Bank of Ireland chief executive Richie Boucher frustrated TDs at the Oireachtas Finance Committee today


YouTube: Hugh O’Connell

A FINE GAEL TD said he was “very disappointed” with Richie Boucher’s appearance before the Oireachtas Finance Committee today.

Kieran O’Donnell accused the Bank of Ireland chief executive of “not facilitating” the committee doing their job of reviewing the mortgage arrears figures.

“Now, what I’m finding here is that it’s like being in a maze,” O’Donnell told Boucher. “We’re chasing you around the place and I would prefer it if you just sat still for a minute and gave us the figures.”

O’Donnell said that the lack of breakdown for the 3,164 restructures offered to the bank’s customers in the second quarter of 2013 was not “good enough”.

“The point I’m making here is that our job as a committee is to drill down and get a breakdown of what those restructures are made up of and I believe we should be able to get those figures now,” he said. (Watch the full exchange in the video above)

After persistent pushing by O’Donnell, Boucher revealed that at the end of July 108 repossession orders had been unexecuted by the bank, 294 had moved to a civil bill and 293 were waiting on a court date.

The bank also had 98 homes in its possession, Boucher said.

- additional reporting Hugh O’Connell

More: Bank of Ireland has addressed 53 per cent of defaulting mortgages

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