Mr. Brendan McDonagh:

The biggest number of debtors we sold was in a loan sale called Project Arrow in 2015. That was approximately 300 debtors. We had a very close look at the portfolio before we sold it. They were generally the amateur debtors. They were generally the ones who had bought property and the assets were of quite low value. They did not bring much expertise to the table in terms of what they could offer us to add value so we bundled them up and sold them in a big portfolio sale. We also bundled, as the you rightly say, Chairman, a number of office properties together and sold them in portfolios. At the time we were also trying to attract international capital into the country, and international capital is not interested in €1 million or €2 million transactions. It wants bundles of €50 million or €100 million. We were doing that to attract bidders into this. They were openly marketed. That was necessary. In many of these there were five or six bidders and competitive tension. From our point of view, we sold the portfolio at what we believed to be a reasonable pace. We had an objective to pay off the contingent liability. There was an issue about the NAMA debt overhanging on the national debt and the ability to raise money. In the scheme of things, we did things within the confines of what we could do, and we got the best value that we possibly could in the scenario.