Pearse Doherty
I welcome the reduction in mortgage rates, but it's a lot less than your cost of funding.
According to your plan, you will be making a return of the capital surplus at the end of 2016. Will you be paying anything before that?
Duffy: That is a decision for the shareholder.
Doherty: Will you be paying the dividend on the €3.5 billion in cash
Burke: We are discussing that with the Department
Duffy: Until the stress tests were passed, we had to pay by means of a scrip issue.
Doherty: Are you including the €1.6 billion for the guarantee in the €21 billion you want to return.
Duffy: We want the bank to be worth €21 billion, so we won't be including the €1.6 billion
Doherty: The Minister is going to apply for retrospective capitalisation, so the ESM may become the owner of AIB. What implications will that have for you.
Duffy: I don't think that would affect us that much. The ESM would only hold the shares temporarily. We still want to get the bank ready for sale.
Doherty: You have claimed that one in 5 borrowers is a strategic defaulter. What is the percentage today?
O'Connor: Many people are still prioritising paying unsecured debt.
Duffy: We have been successful in getting people out of arrears
Doherty: How many PIAs have you approved
Duffy: We approved 50 out of 57, where we are the controlling creditor.
We voted yes in 34 out of 45 where we were not controlling.