Oireachtas Joint and Select Committees

Tuesday, 15 April 2014

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Access to Finance for SMEs: Bank of Ireland, Ulster Bank and AIB

2:20 pm

Photo of Peter MathewsPeter Mathews (Dublin South, Independent)
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The bank has given us information on SME lending. The track record of the bank for four to five years was unreliable and misleading. Why should we believe it now?

The last time Mr. Boucher and his team appeared before the committee I gave them a note on the credit pyramid bubble of which Bank of Ireland was a part, creating the credit boom and bust. Did they read it? What have they to say to the evidenced fact that Bank of Ireland exceeded its prudential loan to deposit ratios by a factor of 68% over the 90% prudential guidance, which indicates the bank was a 75% manufacturer and creator of asset price bubble and bust? Did they read the paper? What is their answer to the fact the bank stands culpable to this extent?