Oireachtas Joint and Select Committees
Wednesday, 22 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Susan O'Keeffe (Labour) | Oireachtas source
-----I meant your company, yes. When Mr. Quinlan was here before us, on page 51 of his evidence, he talked about how he discovered that, in fact, it was the German banks who were making the loans to him. He said he hadn't realised that the Irish banks were, in fact, selling the loans. So he discovered that ... he said:
[W]e were paying the Irish bank 1.5% but her bank were only charging 0.5%. So the Irish bank were pocketing the 1% ... and our clients were losing out ...
And he said he then switched. So was that something that you were aware of at all, because you talked about how you kept most of your business in the Irish banks and perhaps it might have been wiser to have spread your business around?
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