The Minister for Finance has said he is "disappointed" following reports that some Bank of Ireland staff made "disparaging comments" related to the tracker mortgage scandal.
It was reported by the Business Post at the weekend that the remarks were posted in an internal chat following the first part of a RTÉ documentary looking back on the issue.
It is reported the comments related to financial advisor Padraic Kissane, who had assisted his clients in getting back their tracker mortgages.
Paschal Donohoe said while he did not see the remarks that were made, he told reporters in Dublin this morning that he is sure it was reported in an accurate way.
"Given that, that kind of charge is utterly inappropriate, completely unacceptable," Minister Donohoe said.
Speaking at the Business Post's Economic Outlook Forum in Dublin today, the Minister said he expects Bank of Ireland to "treat it with the seriousness that it deserves."
He said while the tracker scandal was now a number of years ago, he said "the consequences and repercussions of it continue to be very real for some within our country."
"We have made very significant changes in our regulatory framework since then, but that has to be accompanied by continued cultural change," Mr Donohoe said.
"I do believe that there are signs that that cultural change was happening, and that's why I'm all the more disappointed to read what I did over the weekend," Minister Donhoe added.
Bank of Ireland said it has "initiated a formal investigation", adding that it has "taken immediate actions."
In a statement, a spokesperson said Bank of Ireland "will take any further steps that are necessary" when the investigation concludes.
While not referring to the individual that the remarks related to, the bank said the comments are "completely unacceptable, and unequivocally do not reflect Bank of Ireland's views, values or standards."
Bank of Ireland said that while "some comments showed empathy for customers impacted by the tracker issue, and an acknowledgement of the Bank's failures, others were completely and utterly inappropriate."
"These included unacceptable comments directed towards someone who played a critical role in representing homeowners," the statement added.
The bank also said it has "engaged directly to express our unreserved apology for the inappropriate commentary".
