The Chairman of the Oireachtas Finance Committee has strongly criticised representatives of Permanent TSB.

Representatives of the bank are before the committee to discuss the ongoing tracker mortgage controversy.

Fianna Fáil TD John McGuinness said nothing seemed to have happened since the day tracker customers went before their committee to outline their experiences.

He said he received a large number of texts when representatives of the bank were speaking this evening, "and their content tell their own story".

One text said: "I'm livid listening to this rubbish - resistance is the position of the bank."

Mr McGuinness said he did not think that PTSB had changed since the tracker scandal emerged, adding: "I'd say if you had a chance tomorrow, you'd do the same all over again."

He also told the bank's representatives that they should be ashamed of themselves regarding their conduct with customers. "If I was interviewing you for a bank licence, I wouldn't give it to you," he said.

The committee heard that in 2016 the tracker mortgage scandal cost the bank €145m.

PTSB Group Holdings Chief Risk Officer Stephen Groarke said that figure included redress and compensation, technology costs to build systems to review mortgages, staff costs and independent oversight.

Jeremy Masding, Chief Executive of PTSB Group, reiterated his apology to customers affected by the tracker mortgage scandal.

Earlier, Mr Masding told the committee that 1,979 customer accounts have been deemed to be "impacted".

He said that in 31 cases customers lost their properties, of which 12 were private homes and 19 were buy-to-let properties.

Mr Masding said: "Nobody goes to work to do harm to customers. But real harm was caused as a result of the errors and failures that happened at our bank and we are very, very sorry for that."

He told the committee that the core reason this happened was because customers were not given full information when they asked to break early from an agreed fixed-rate mortgage, typically in 2008 and 2009.

In the case of those accounts that were affected, Mr Masding said all of those customers have now been offered redress and compensation. The majority have accepted and received those payments.

Mr Masding also told the committee that there was no evidence to support the assertion that the bank was deliberately acting against customers with tracker mortgage entitlements.

He said: "When the bank withdrew tracker products for new customers in 2008, we did not prevent existing customers from moving where they were entitled to and many customers did."

He also said the bank did not entice or encourage customers to apply to break early from their fixed rates.

KBC identified 2,974 affected accounts

KBC Chief Executive Wim Verbraeken has apologised for the bank’s failures over the wrongful removal of customers from tracker mortgages.

He told the committee that the bank had identified 2,974 affected mortgage accounts.

"I would like to reiterate my apologies to all impacted customers for the harm and distress caused by the Bank's error or failure," he said.

Mr Verbraeken told the committee that six customers lost their home as a result of not being on a tracker mortgage rate and 27 customers lost their buy-to-let property for the same reason.

"We expect that this number will increase as the individual causation assessment and calculations are completed on the recently identified cases," he added.

The committee was told that to date the bank has made rate rectifications and redress and compensation payments to 501 customer accounts.

Mr Verbraeken said that 2,473 affected accounts are still not on the correct rate. He said they were only identified late last year and will be put on the correct rate within two months.