Central Bank probe concludes bankers who were present during the banking guarantee period can remain

Friday 29 June 2012 20.20
Central Bank has concluded a fitness and probity investigation into bank chiefs
Central Bank has concluded a fitness and probity investigation into bank chiefs

Leading bankers on the boards of Irish banks on the night of the bank guarantee have been told they can remain in their current roles,

This follows the conclusion of a fitness and probity investigation by the Central Bank.

The decision covers Bank of Ireland's chief executive Richie Boucher and Kevin Murphy, a director of Irish Life and Permanent Group Holdings.

The Central Bank said last night that over the past year while conducting the review, many of the long-standing directors of the lenders covered by the bank guarantee had resigned.

It said it had no reason to suspect the fitness and probity of any directors currently in place who were on boards of Irish banks during the night of the guarantee.

According to a statement from the bank, some of the cases were internal decisions and in others it sought an external opinion on the material available to it.

The Central Bank added that no further action is to be taken at this time.

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