Results 15,501-15,520 of 26,228 for speaker:Kieran O'Donnell

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: Thanks, Chairman. Welcome, Mr. Browne.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: NAMA estimated that there was €9 billion in interest roll-up in the loans transferred by the five banks to NAMA, and they said €3 billion of that related to Anglo. Now they ... I'm ... the document I'm referring to, Chairman, is Vol. 2 page 27. It was evidence given by Brendan McDonagh, who's the CEO of NAMA. I suppose the question really was were you aware of that level of...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: Can I ... can I just clarify one or two points, Mr. Browne? When in 2004 did you become managing director of lending in Ireland?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: 2005, and what date did you actually leave Anglo, because the ... what precise date did you leave Anglo?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: Because I looked at the ... at the ... the annual accounts for 2007 for Anglo, and they state ... which are dated 27 November, they state that you were shortly leaving the board.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: That was the end of November.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: Okay, and the €3 billion roll-up-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: How would that have arisen?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: Was it a common feature among development loans?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: So, say if one of your existing clients rang you and said, "I've a land deal I want to invest in", and ... would you typically ... did you distinguish between with or without planning?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: So typically you'd have given interest roll-up on land. If that developer-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: And would you-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: Would you allow interest roll right up to developing the site, building houses on the site?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: Did it not leave the bank very exposed to a downturn?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: That was only for new lending. The existing clients you continued to lend to.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: Why did you leave Anglo?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: What do you mean by your race was run?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: Would you accept, Mr. Browne, that during your period as managing director of lending in Ireland, that was the rapid escalation in property lending within Anglo?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Kieran O'Donnell: But it happened under your watch.