Oireachtas Joint and Select Committees
Wednesday, 4 March 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Professor Alan Ahearne:
It may have been related to the earlier discussion about exposures. Both institutions were heavily exposed to the property market. The other banks had more diversified loan portfolios. They had mortgages and other types of corporate loans. Anglo Irish was a monoline merchant bank. All it did was property. I had not realised that Irish Nationwide was like that in many ways too. It probably reflected those facts.
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