No need for more State aid - BoI

Bank of Ireland chief executive officer Richie Boucher said today the lender can meet minimum capital requirements even after taking a discount on assets transferring to the National Asset Management Agency (Nama).

Mr Boucher made his comments during an appearance before the Oireachtas Joint Committee on Finance and the Public Service this morning.

He said the plan the lender submitted to the European Union in September does not envisage the company needing more state aid.

"In that five year plan we had to show assumptions we have made on capital, on liquidity and profitability of the group going forward," he said."That plan envisages not requiring any further state aid."

Mr Boucher also said European Commission decisions on restructuring plans for other lenders do not "necessarily" have a "read through" for how the agency may treat BoI's plans.

Bank of Ireland chairman Pat Molloy also appeared before the joint committee today to discuss the interest premium over the costs of funds banks will charge to restore profitability.

Also appearing before the committee are AIB chief executive Eugene Sheehy and chairman Dan O'Connor.