Oireachtas Joint and Select Committees

Thursday, 30 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Brian Goggin:

No. I do not believe so, Deputy. I mean, the expression of strategy and boiling it down to an EPS kind of target is to simplify it. The EPS is an outcome of the strategy, which is pretty obvious. Did the desired outcome influence the level of growth? No, I think the level of growth was built up from all of the different components of the group. We decided that we would stick to our core geographies. We looked at a whole array of different areas of possible expansion. We came back to our core markets in our core businesses.

And the level of growth that we envisaged to produce an earnings per share in mid-teens was a function of a multiplicity of moving parts.

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