Oireachtas Joint and Select Committees
Thursday, 1 February 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Tracker Mortgages: Ulster Bank
9:00 am
Mr. Paul Stanley:
I would not accept that point. I think the Deputy is going back to the West Register point that he raised before. Some 15 properties went into that. The Deputy might look into the accounts of that company. They show that the business made a profit. If the Deputy looks at what those properties were valued at when they were taken by the bank, they went at written-down value when they went to West Register. The bank had already taken a loss on those. I do not accept that the bank made wholesale profits on those activities.
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