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Houses of the Oireachtas
Finance committee

Executives of three guaranteed banks to face Oireachtas committee

Representatives of IBRC, AIB and Bank of Ireland will all appear before the Finance committee next week.

EXECUTIVES FROM three banks in which the State has a full or partial stake are to appear before an Oireachtas committee next week to answer questions on the functioning and operation of their institutions.

The Oireachtas committee on Finance, Public Expenditure and Reform will sit twice next week, despite both the Dáil and Seanad being on recess for the week.

Representatives from the Irish Bank Resolution Corporation, the combined Anglo and Irish Nationwide, will attend on Wednesday morning while their counterparts from AIB are due to appear that afternoon.

The chairman and chief executive of Bank of Ireland will then appear to take questions from members on Thursday morning.

Committee chairman Ciaran Lynch (Labour) said members would use the opportunity to question the executives on the operations and functions of their respective institutions.

“It will be a chance to tease out the latest developments in the sector, including the recapitalisation process, restructuring and rationalisation of the banks and examine how this may impact on branch numbers, staffing, customer service and lending,” Lynch said.

“In the light of recent conflicting statements and reports on the incidence of bank lending to small and medium sized businesses, the Committee will be keen to establish the true position in relation to lending by financial institutions.”

The news comes on the day that AIB permanently closed 44 of its branches across the country as part of cost-cutting measures.

Read: AIB to permanently close 44 branches across country today

More: 1,700 bankers in state covered banks paid over €100,000

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