Oireachtas Joint and Select Committees

Wednesday, 6 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Richie Boucher:

I think it's always hard to do that. As I said you've to look at ... the share price absolutely peaked at €19 but how many people bought their shares or sold their shares at that? There's been a massive loss in shareholder value. I can't say what it was or wasn't. Our market capitalisation peaked at around about €13 billion. It is around about €11.5 billion now but obviously we've generated new capital. One of the things that I would note is a lot of the ... some of the capital we generated and raised was to do with losses but also there's a significant increase in capital ratios. So capital ratios have moved from about 7% to 14%. So some of that capital is about strengthening rather than filling holes.