Results 9,901-9,920 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: Yes, but when you arrived in 2005, was this now settled policy for the society?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: Yes. So, there it outlines two approaches for development finance. Go for broke or the toe in the water.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: And the toe-in-water approach is the favoured one. So when you arrived in 2005, would you still describe its involvement with development finance as toe in the water as it moved on from there?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: One hundred million in 2005 and then, I think you said, €500 million in 2008.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: Right. Just if we move on then to pages ... to the last page of that board report, page 97. I just want to look at the last paragraph, if I may ... let's see if it's on your screen. It's the last page of the ... so it's page 97.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: No, no, it's sorry it's not up on the screen yet. It's ... I'll just get some more time as well, Chair, as a result. Thanks. I'm going to ... it's going to come up. I'm going to-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: -----read out the paragraph I'm interested in: It was suggested that, with a view to widening the base of Commercial Property customers, a greater level of business networking would be needed in the future; in this respect, Brian Healy will contact individual Board members to establish whether they have contacts who may be a source of additional business. So, tell me a bit about that....
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: This is the same board meeting in 2002.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: Okay. You think it was acceptable for the society to make that proactive approach to people to offer them commercial terms-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: And you see a distinction between the two?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: Okay. And when you arrived in 2005, were those types of conversations happening-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: -----still on the board? No. Okay, thanks. Well if we can move on in the same evidence booklet please to page ... it's pages 99 through to 100, 101 and this is the commercial business plan from September 2005. You were in the society at this point in time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: Were you responsible for developing or preparing this paper?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: Yes. 99 is the first page of the report and then it goes into detail and 100 and 101 from there on. That's the first ... yes, sorry, the first page is here just in front of you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: And then it continues on.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: Yes, yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: You were comfortable with the plan.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: Okay. I mean it notes that commercial is an area that has more than tripled in scale to about €1.6 billion of the loan book. But the problem as it outlines in 2005 is that the lenders are lower risk, meaning good asset quality but low margins so the desire then is to go for higher-risk businesses. Now when Fergus Murphy was before us, he said on page 61 that ... of the transcript,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Jul 2015)
Eoghan Murphy: So was Fergus Murphy wrong then, in that they ... none of the business was good? They weren't getting the better business, none of the business was good?