Results 9,741-9,760 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: And the compound concerns that would arise out of that, was that ever on the radar of Bank of Ireland?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: All right, thank you, Mr. Goggin. I now propose that we break until 10.50 a.m., and, in doing so, can I remind the witness that once he begins to give his evidence, he should not confer with any person other than his legal team in relation to his evidence or matters that are being discussed before the committee? With that in mind, I now propose we suspend the meeting until 10.50 a.m. and...

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Are we back in ... quorum? We are indeed. With that said, I'd like to go back into public hearings with immediate effect. Is that agreed? Mr. Goggin, just very, very briefly, just to clear up one item. On the night of the guarantee, were you and AIB in the same room for the duration of the evening or were you in separate rooms, and in your meetings with either the Taoiseach or Mr....

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: This is €5 billion for Anglo?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Thank you. Just one other matter with regard to Deputy O'Donnell's question, in regard to tier 2 ... lower tier 2 subordinated debt. Bank of Ireland's position on that was that was to be protected, yes?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Okay, thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Okay. I will bring you back in again Deputy O'Donnell, as we wrap up. Just to move on. Deputy Pearse Doherty. Deputy you have ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

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

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Onto the question, Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Sure, yes, indeed.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Okay, thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Mr. Goggin, I'm just going to refer there to a document, BOI - Vol. 1, B1, page 29.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: And this relates to a retail financial services Ireland presentation, it's a Bank of Ireland presentation as you can see, to court ... May ... in around 2004, May 2004.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Yes. Now, it would be indicated that the levels of earnings per share on profit before tax in Bank of Ireland ... that the targets for this, at 15% plus per annum ... that then might appear ambitious ... in a relatively mature market. But the first question I'm going to kind of arrive at here was, how much ... when you ... in 2004, how much of the model, that you were then developing, was...

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Okay, alright, so we'll just move on to page 31 of the same core document. There's a number of bullet points here in the ... and I'd like to talk about the third one down which is "Sales and Revenue". It's just coming up in a moment.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Yes. And yes I ... just to let it come on the screen there as well. And it says ... this is a projection of what success will look like in 2007. The presentation is being made in 2004 as we've already discussed. "Sales Culture firmly embedded-profitable market share growth." Now, this ... can you elaborate on what that target actually means? The ... coming back to earlier questions this...

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: Two ... two questions on that, Mr. Goggin. One is, if, kind of, if it was a colloquial term that ... that brings me back to that time, being informed that someone was under-borrowed, which meant that they had a potential to take up more loans even if they weren't looking for a loan.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: By data mining, does that mean to identify people who are under-borrowed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: But were Bank of Ireland engaged in the process of looking through that data mining and say, well ... Mr. Lynch looks like he has the potential, on his earnings, to borrow another €40,000 or another €400,000 a year, and Bank of Ireland then would look at maybe what sort of products would be available for him to avail of, given the credit that he would have access to?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Apr 2015)

Ciarán Lynch: And would they get a call ... would Mr. Lynch being ... not me, but some other person maybe ... would Mr. Lynch then get a call from the bank saying, well we got all these products, and we'd like to talk to you about them?