Oireachtas Joint and Select Committees

Thursday, 9 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Joe HigginsJoe Higgins (Dublin West, Socialist Party) | Oireachtas source

Okay. Mr. Quinlan, on page 5 of your ... your written statement, you gave us a table showing what seems to be exponential growth of the total property assets under management.

And if I just take an example there of... for example, in 2003, your total assets is €1.6 billion, which is a 43% increase over 2002; 2004 €3 billion, which is 83% over 2003; 2005 is an increase of 41%; and then you say that, I think, your total assets were about €10 billion probably by 2008, which would be another 136%. So from 2000 to 2008, Quinlan Private went from €602 million to €10 billion - a growth rate of 1,561%. Looking back on that, is that an astonishing rate of growth of your assets?

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