Mr. David Went:

But can I ... I'll deal with that in two parts if you like. For the first period of my time with this group, we spent our time exiting substantial investments that we had overseas that were sub-scale, relatively unprofitable and we decided that we wished to allocate that capital to Ireland where there appeared to be much better economic opportunities and where we had a really substantial market position where we felt we could make better use of that capital. So, that's a general point. The second point you make about SME lending ... I came from a background of running a retail bank, Ulster Bank, and I was fully aware of the extent to which the branch manager and the overall process by which people progress in the bank and become branch managers ... the overall point ... the overall way in which that happens and I concluded and I persuaded my colleagues on the board that it was really too big a stretch for us to, if you like, reverse engineer an SME lending capability into our branch network because I just did not believe we had the skills to do that and I believed that those - and I still believe that - that those skills were actually special skills. You know, you started off by being a clerk to a lender and then you progressed your way up, you went into an advances department, you know, all of those sort of things. I just concluded that we could not reverse engineer those without excessive risk into our branch network and, in particular, I knew from having run Ulster Bank that the clearing banks, AIB, Bank of Ireland, Ulster Bank, National Irish Bank, actually were pretty good at doing that and we would have found it very difficult to compete in that market.