Wednesday, 16 May 2018

Ceisteanna (23)

Michael Moynihan


23. Deputy Michael Moynihan asked the Minister for Finance if he has met the CEOs of the Irish banks recently. [19095/18]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

As the Deputy is aware I have regular meetings with the CEOs of the banks in which the State has a shareholding in addition to the other non Irish owned retail banks operating in the Irish market.

I met formally with the CEO of Bank of Ireland in March of this year and the CEO’s of AIB and PTSB last month during which a broad range of banking matters were discussed including the economic outlook, new lending in support of the economy, the tracker mortgage examination, progress in dealing with non-performing loans and initiatives in support of customers in difficulty.

I note that the banks in which the State has an investment continue to make good progress thanks to the continued improvement in the economy.  All three banks are now generating profits and the rate of the regulatory capital build is encouraging as shown in their full year 2017 financial results. In the case of AIB and Bank of Ireland both recently released positive trading updates for Q1 2018 which highlight strong profitability, capital generation, continued loan book growth and further reductions in Non- Performing Exposures or NPEs. Ptsb released a trading update this morning which showed further progress in meeting its medium term objectives.

The ongoing Tracker Mortgage Examination is also a topic which I have discussed with the CEOs of each of the banks, and the most recent update from the Central Bank indicated significant progress has been made by each of the banks with 88% of impacted customers having been identified and received offers of redress and compensation with the remaining 12% expected to receive offers by end-June 2018.

I am also aware that other Ministers have met the CEOs of some of the banks recently including my colleague Michael Creed the Minister for Agriculture who discussed the impact of the prolonged winter on some individual farmers cash flow as well as the shortage of fodder in the sector.