Michael D'Arcy (Fine Gael) | Oireachtas source

Mr. Purcell, you're welcome. During the period '01 to '03, INBS increased its level of commercial lending by over 60%. This was a source of concern for the regulator that the society did not have the appropriate skill sets or controls to place ... in place to effectively manage this level of exposure and this level of increase. By September '08, 80% of INBS's loan book was in commercial property and 81% of its land and exposure was in speculative property activities. Do you think this was an appropriate lending strategy for INBS as a building society?