Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

It says:

Property now accounts for 44% of all non mortgage lending. [44%] The levels of property exposure ... within our book are increasing at a faster rate than other sectors. Figure 1 below it shows, our exposure has grown from €29.5 [billion] in March 07 to €33.5 [billion] in September 07 and from 23% of the book to 25%.

If you move on to page 97, there's a reference to Moody's, the rating agency, looking at the sectoral concentration methodology:

Under this measure, property and construction is growing in significance more rapidly than other sectors. ... Construction & Property ... accounted for 359% of our Tier 1 Capital at the end of September [']07, up from 345% three months earlier and 275% at March 06.

By any measure, is that not rapid growth?