Tuesday, 12 March 2013

Questions (170)

Pearse Doherty

Question:

170. Deputy Pearse Doherty asked the Minister for Finance if he will confirm the policy of Allied Irish Banks in which he is the shareholder of 99.8% of the shares in writing down debt owed on commercial loans and if ordinary shareholders in companies where debt write-offs will be agreed by AIB, will be 100% wiped out before any debt write-off is agreed by AIB. [12624/13]

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Written answers (Question to Finance)

I have been informed by AIB that the bank is committed to operating its business activities on a commercial basis as it seeks to return to profitability. The bank assesses each customer in detail on a case by case basis to ensure the appropriate commercial outcome for the bank is achieved. As each case is dealt with on an individual basis, there is no blanket policy applied in respect of capital hierarchy.