Oireachtas Joint and Select Committees

Wednesday, 6 May 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 just want to move to some of the evidence NAMA gave us when they were before us in relation to how NAMA debtors and the banks were managed once NAMA was announced. And one of the things that NAMA told us was that the extent to which NAMA, the banks, sorry, were collecting income from things like office blocks or shopping centres where the banks themselves ... that was not being collected in the millions. And NAMA estimated that about 20% of income from investment assets was being mandated to the banks. About 80% of the income was being diverted away. NAMA said that it seems no one was following up on it and NAMA then went after that income. Was it the case in Bank of Ireland that you were not following up on this income?

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