'The rage inside me was getting stronger': Ireland's top bankers face grilling on mortgages and repossessions
Three of Ireland’s top bankers were before an Oireachtas committee to talk about the state of Irish banking system.
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Three of Ireland’s top bankers were before an Oireachtas committee to talk about the state of Irish banking system.
“Happy customers make for profitable banks,” the finance minister said today.
Richie Boucher said bankers’ pre-crash salaries were “relatively generous”.
Here’s everything you need to know about what’s happening in Irish politics right now…
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The Bank of Ireland chief executive expects to be back to work in September.
The mortgage holder’s advocate has struck a deal with two major banks and hopes more will follow.
The state-backed lender’s refusal to engage with personal insolvency legislation is in the crosshairs.
BoI says it is trading normally as shareholders meet in Dublin.
Letters have gone missing from the Department of Finance and – it was revealed this week – Bank of Ireland in a development described as “highly suspicious” by the Sinn Féin deputy Pearse Doherty.
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Bank of Ireland officials told the finance committee that they would veto any suggestion of debt write-down made by a Personal Insolvency Practitioner.
Bank of Ireland has released its results for 2013. Richie Boucher says the institution made “further substantial progress” last year.
The bankers were given targets to tackle the mortgage crisis, but no-one was happy with the measures they took to reach them…
AIB boss David Duffy said this week the bank would pull out of a process aimed at reaching a solution for all of the residents, and try and reach deals with just its own customers.
Peter Mathews and Stephen Donnelly were in the Oireachtas Finance Committee today and were full of questions for Bank of Ireland boss Richie Boucher.
CEOs Richie Boucher and Jim Brown came under pressure from TDs today to explain what they were doing to help former residents of the abandoned Donaghmede apartment complex.
The Bank of Ireland chief executive got into a testy exchange with a Labour TD over his pay packet today.
TDs and Senators are grilling the bankers on mortgage arrears and other issues this week. It’s Ulster Bank’s turn this afternoon.
Bank of Ireland chief executive Richie Boucher frustrated TDs at the Oireachtas Finance Committee today
Bank of Ireland told the Oireachtas Finance Committee that it has 11,774 mortgages in default and has dealt with over 6,200 of those accounts.
Bank of Ireland’s response to a Michael Noonan letter on preservation of records was “measured at best, reserved at worst” according to committee chairman Ciarán Lynch.
TDs and Senators on the Oireachtas Finance Committee will grill the heads of the main Irish banks next week.
Richie Boucher said that it ‘was not for him’ to say why people weren’t paying their mortgages, but encouraged those in difficulty to engage with the bank.
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The taxpayer’s 15 per cent stake in the bank won’t be used to try and stop shareholders approving Richie Boucher’s pay.
Bank of Ireland’s annual report reveals a minor pay increase for Richie Boucher, despite pre-tax losses of €2.17 billion.
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Looking to the year ahead, its chief executive, Richie Boucher, said that “taxpayers are very much in the money with regard to Bank of Ireland.”
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Shareholders at the bank voted overwhelmingly in favour of the deal that was first announced by the Finance Minister in March.
Bank of Ireland’s annual report shows Richie Boucher benefited by €831,000 last year after waiving €67,000 of pay.
The remarks come after chief executive Richie Boucher was quoted as saying new insolvency legislation could lead to increases.
Preliminary results for 2011 show that losses before tax fell to €190m, compared to €950m in the previous twelve months.
The standard variable mortgage rate is going up, as are rates on personal credit cards and personal variable loans.
Richie Boucher says his bank can’t keep absorbing ECB hikes – and that it’ll have to pass on any future increases.
So far in 2011, Ireland’s only domestic lender outside State control has almost halved its pre-tax losses.
Reacting to the losses chief executive Richie Boucher appeared to indicate he is not in favour of debt forgiveness for struggling mortgage holders.
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