Oireachtas Joint and Select Committees

Wednesday, 6 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Cormac McCarthy:

Well, the money that went into RBS in 2008, went in to support the challenges RBS had in its global banking business. Ulster Bank in 2008, its results and its performance in 2009 were not part of that decision, so in making the decision to invest in RBS at the time, the Ulster Bank situation was not germane at the time. Subsequently RBS injected money as it traded through the following years into... into Ulster Bank.