Banks told Oireachtas in July they were ‘robust’

SENIOR executives from the leading banks told an Oireachtas committee in July that they were “robust and stable”.

While indicating that liquidity problems were growing, the executives from AIB, Bank of Ireland, Anglo Irish Bank and Permanent TSB defended their lending practices and said they were profitable and strong.

“The sector is well capitalised and profitable and has strong shock absorption capacity,” Pat Farrell, chief executive of the Irish Banking Federation, told the cross-party Oireachtas Committee on Finance on July 2.