Mr. Eamonn Crowley:

The project has been launched and there is interest in the portfolio, so we do not countenance that particular outcome. If there is no bidder, it will leave us in a difficult position with the regulator, which is asking European banks to reduce their NPL ratios. There are difficult cases within the 10,200 properties and €1.9 billion of loan exposure. One third of those cases are not engaging with us, 1,100 cannot afford a treatment and 5,000 had treatments and fell over. We would have to revert to other social solutions, but it would leave the bank in a difficult position with the regulator.