It has been announced that Ulster Bank CEO Jim Brown and Bank of Ireland CEO Richie Boucher will appear before the Oireachtas Joint Committee on Finance, Public Expenditure and Reform in separate sessions tomorrow as part of a series of meetings on the Irish banking sector.
The meeting is likely to explore progress in managing mortgage arrears, 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 issues
Committee Chairman, Liam Twomey TD said, "Tomorrow’s meeting with Ulster Bank and Bank of Ireland CEOs will be an opportunity for our Committee to explore current issues in Ireland’s banking sector.
Following up from our engagement with AIB last week, discussions are likely to centre on mortgage rates. Members will wish to explore with both CEOs the prospects for Irish variable rate mortgage holders in the coming months, who pay interest rates that are among the highest in the Eurozone.
The Committee will also wish to consider the latest approaches of both banks in relation to mortgage arrears and house repossessions. Other strategic priorities for both banks, 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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