Oireachtas Joint and Select Committees
Thursday, 30 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Ciarán Lynch (Cork South Central, Labour) | Oireachtas source
Okay. Thank you very much, Senator, I am going to move to wrap things up. Mr. Drury, in doing so, can I just put one question to you myself and then I'll invite the leads in subsequently. Mr. Drury, your testimony of this afternoon would indicate that you were unfamiliar or not aware of the following: key concerns expressed by the Financial Regulator about commercial property lending activities, the levels of exceptions of lending policies, the experience needed to manage a fast-growing monoline bank such as Anglo, broader implications of the rapid growth in lending and profits of Anglo, implications of lending to such a concentrated number of developers, the extent of breaches in regulatory sectoral lending limits, the extent of interest roll-up within the Anglo loan book, the implications of combining the roles of CRO and financial director. Mr. Drumm, or sorry, Mr. Drury, my apologies. Mr. Drury, can I ask you to explain to this committee what role and purpose did you provide for Anglo?
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