Oireachtas Joint and Select Committees

Wednesday, 29 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Eoghan MurphyEoghan Murphy (Dublin South East, Fine Gael) | Oireachtas source

Okay, thank you. I will move on then please, Mr. Sheehy, in relation to NAMA's evidence to us last week. They gave us evidence on the extent to which banks were tending to collect income that was going to the debtors and not to the bank once the crisis began - about rental income from office blocks, from shopping centres - and this was in the millions. They gave us two figures. They said that 20% of income from investment assets were being mandated to the banks but 80% of income was being diverted away. And NAMA said that nobody seemed to be following up on it. NAMA then went after this income themselves. Is it the case in AIB that no-one was following up on this income?

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