Former PTSB chief finds tracker mortgage inquiry 'extraordinary'

David Guinane told the inquiry: 'I am the only person who is having to face this type of inquiry.... I believe I have been singled out and I am being a scapegoat.'

Former CEO of Permanent TSB, David Guinane, said he had no recollection of a PTSB executive committee meeting on January 13, 2009, where the bank’s former marketing manager Niall O’Grady said the tracker mortgage issue was first brought up. Photo: Sam Boal/Collins Photos

Former chief executive of PTSB, David Guinane, has said that he didn’t consider the tracker mortgage issue at the centre of the Central Bank of Ireland inquiry to be important when the matter was first brought to their attention in 2009.

On Wednesday, Mr Guinane testified before the inquiry which is looking into whether he and PTSB participated in the commission of a regulatory breach during the period January 19, 2009, to April 2010. Mr Guinane said he finds the whole inquiry “extraordinary” considering that all this occurred 15 years ago.