The comments of the KBC Group’s chief executive as reported yesterday are unhelpful to the purpose of the Irish Banking Culture Board which is to assist the banking sector in Ireland to regain the public trust. Many innocent victims of the tracker mortgage scandal are still in the course of having their complaints resolved. They cannot move on. The Central Bank of Ireland has still not completed its investigation into KBC and clearly is also not in a position to move on. The IBCB believes that Central Bank of Ireland’s regulatory role should be respected by all.

During an extensive public consultation the people of Ireland asked the IBCB to ensure that banks behaved in a fair and transparent manner. That is a central part of our remit. There is already a work programme in place to ensure positive outcomes, including the recent commitment of care to bereaved customers.