Results 6,861-6,880 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: So would you believe that, going back to our earlier discussion on the earlier question, that at board level, was there enough attention being paid or was there enough cognisance of the concerns that may have been operating in the banking model operated by AIB at that time?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: And would you see the comment you just made to me as then being congruent with the position that AIB acknowledges its decision to expand into property was misguided and that its risk management and internal governance systems were not as effective as they should have been in controlling this risk?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Which an examination of that period as opposed-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Okay but you would see that ... both your position and this position as being congruent?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Okay, thank you very much. I now propose that we take a break and that we return at 11.25. Is that agreed? Agreed.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Okay. Everyone back in the room and seated and, this is to remind myself as well, with their phones readjusted to flight mode. We will resume business, okay? All right. So, I am now bringing the meeting back into public session. Is that agreed? Agreed. And just one other matter there, Mr. Buckley, before I bring in Senator O'Keeffe, is if I could just come to yourself, maybe just to...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: And during that time, because I know you retired in 2005, but how would you maybe characterise the bank's relationship with the Financial Regulator in the period from 2003 until 2005? Mr. Gleeson gave a kind of analogy last week about referees and the relationship, that teams on the pitch have a referee. How would you describe your relationship?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Mr. Gleeson, my apologies. Mr. Gleeson, yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Sure.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: So, during the visits by the Financial Regulator, did the bank ever contact the ... subsequently then financially ... or contact the Financial Regulator or the Central Bank Governor directly in respect to any issue arising from a supervisory visit from the Financial Regulator to your bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Mr. Gleeson, in his testimony last week, as I said, familiarised or kind of similarised the role of the regulator as being something like a referee. Now, if to develop upon Mr. Gleeson's analogy of ... a sporting analogy, referees in different codes of sport have different responses to them. In rugby, if the captain acts, operates in a very, maybe, described as a gentlemanly sort of role...

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Thank you. Senator O'Keeffe, ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Deputy John Paul Phelan. Deputy, ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: The document that was displayed earlier, Deputy Phelan. Yes, okay. Fine.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Your final question now, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: I just want to-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: -----just return to the issue of the earning per share there that Deputy Phelan raised with you. Would it be fair to say, just as an outsider, who may be analysing a bank's performance, that the earning per share that a bank would be delivering would be a key performance indicator by which investors might actually judge the relevant attractiveness of a company as an investment opportunity?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Top of the pyramid, you reckon, yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Okay. So in that regard, was it your view that the levels of earnings and the ... in earning per share growth targets set by the board, given the maturity of the market, what was your view on that? You were setting quite significant targets as to what the return should be in this, which would be attracting investors.