MR Bill O'Herlihy, RTE sports commentator and public relations director, told the Institute of Bankers he was "amazed" its members had consistently failed to sell themselves.

Speaking at the Dublin Institute of Bankers spring lunch, Mr O'Herlihy attacked the banks' own efforts at PR. He laid the blame for bad publicity firmly at the banks' feet.

"Take the bad publicity on low rates of interest on deposits. How much commitment has there been from the banks to communicating that the difference between buying and selling money is what keeps banks in business."

According to Mr O'Herlihy, the bad publicity surrounding bad debts and receivership is a failure to explain that the banks are ultimately owned by shareholders and that management has a responsibility to protect its assets.

He also told his audience that the onus was on the big banks to explain how profits of £1 million a day were flowing back to customers.

But at least some of his audience were pleased the talk had started with a string of risque jokes which had some institute staff frowning.