Oireachtas Joint and Select Committees

Wednesday, 29 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour) | Oireachtas source

I just want to deal with a couple of issues there just before we tidy up before the break. This relates to the quality of the business model, setting process, just to tidy up there from some of the questions that may be outstanding before we go for a break.

We will be referring to core documents AIB B2, Vol. 1 and that is AIB reference 01278, page 19, paragraph two. What I want to explore with you, Mr. Sheehy, here is the development of the bank's business strategy. I would imagine that this is one of the main responsibilities of the board and try to maybe establish with you how much board time was being taken up with regard to the strategy.

And the sort of time that was devoted to discussing the development of the sustainable business strategy. So maybe just to begin with that question, how regularly and how often was the business model that was being operated under your tenure being discussed at board level?

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