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IBRC and AIB executives to face Oireachtas committee

The executives from the two guaranteed banks will be questioned about the operations and functions of their respective institutions.

AIB, one of the banks to face the committee today.
AIB, one of the banks to face the committee today.
Image: Laura Hutton/Photocall Ireland

EXECUTIVES FROM AIB and the Irish Bank Resolution Corporation (the combined Anglo and Irish Nationwide) will face an Oireachtas committee today.

From 10am-1pm, there will be an overview of IBRC (with representatives from the organisation) before the Oireachtas committee on Finance, Public Expenditure and Reform, talking about the current operations and functions there.

Then from 2 – 5.30pm representatives from AIB will appear before the committee to answer similar questions.

The Oireachtas committee on Finance, Public Expenditure and Reform will sit twice this week, despite the fact that both the Dáil and Seanad are currently on recess. The chairman and chief executive of Bank of Ireland will appear before the members on Thursday morning.

The State has a full or partial stake in all three banks that are to appear before the committee.

Committee chairman Ciaran Lynch, of Labour, said last week that 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”.

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.

Read: Executives of three guaranteed banks to face Oireachtas committee>

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