The CEO of AIB, David Duffy will appear before the Oireachtas Joint Committee on Finance, Public Expenditure and Reform tomorrow as part of a series of meetings on the Irish banking sector.
The meeting forms part of a series that the Committee is hosting with senior management of the main banks in the coming weeks. Ulster Bank and Bank of Ireland are scheduled to appear before the Committee on Wednesday 29 April. Permanent TSB representatives will follow on Wednesday 13 May.
Among the topics discussed will be progress in managing mortgage arrears and the latest position on the Mortgage Arrears Resolution Targets as set by the Central Bank, repossessions, mortgage interest rates, general lending policy, commercial lending policy to SMEs, strategic direction of the bank in the medium-term framework, and general banking.
Committee Chairman, Liam Twomey said, "Tomorrow’s meeting with AIB CEO David Duffy will be an opportunity for our Committee to explore current issues in Ireland’s banking sector. Discussions are likely to centre on mortgage rates and Members will be pressing Mr Duffy on what can be done to ease the plight of Irish variable rate mortgage holders, who pay interest rates that are among the highest in the Eurozone.
The Committee will also wish to consider the latest trends in mortgage arrears and house repossessions. Other strategic priorities for AIB, including progress towards the disposal of the State’s shareholding, the impact of EU banking legislation, and trends in commercial lending to the SME sector will also be on the agenda."
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