As the Deputy will be aware, the use of external service providers is a matter for the management and board of the institution. I have no role in the day-to-day commercial and operational decisions of the banks, which include these matters. These decisions are taken by the board and management of the institution. Notwithstanding the fact that the State is a significant shareholder in the institution, the bank is run on a commercial arm's length basis as per the Memorandum on Economic and Financial Policies agreed with the EU Commission, the ECB and the IMF. In relation to costs incurred, the management and board of the institution are aware of their duties to their shareholders to ensure that all costs incurred by the bank are necessary and reflect the needs of the business.
Separately, I am informed by the Bank that in line with its normal practice, the bank has not publicly disclosed the specific contract details in respect of this firm as they deem such information to be commercially sensitive in respect of arrangements entered into with individual firms. The bank has however confirmed that the firm in question continues to provide AIB with consultancy services and the bank has further indicated that it remains committed to managing the cost of, and maximising the value from, this arrangement.