Results 15,841-15,860 of 26,228 for speaker:Kieran O'Donnell

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: That's fine. Just a very tiny question. You've a background in banking. You're a seasoned individual in terms of finance. You were 14 years on the board of Irish Nationwide Building Society. During your tenure as chairman of the board, the commercial loan book went from €3 billion up to nearly €9 billion - the commercial loan book alone. At the end, €5.4 billion...

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Do you dispute the €5.4 billion?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Billion, yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: You're assuming that the mortgage residential loan book has made no loss.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Correct.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: A deposit book does not bring about losses - profit or losses.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Very little, but go on.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Finally, Mr. Walsh-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: I will finish on this. The Department of Justice budget - this is an important point - the Department of Justice budget is €5 billion a year.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Yes. The question I want to ask is: what do you say to all the mortgage holders?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: No, but ultimately €5 billion ... you are disputing the €5 billion.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: The taxpayer has borne that to date.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Chairman, can I make reference-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Can we bring up page 125 of Vol. 1-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: 125 in Vol. 1. Page 125. This'll provide clarity. This is directly from NAMA and NAMA says €8.7 billion of loans were transferred from Irish Nationwide; consideration paid was €3.4 billion; that gives a loss of €5.3 billion. Now, 5.3 is very, very near 5.4 so I think the figures that you're quoting, Mr. Walsh, are not accurate.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Well, if you go to page 125 and you look at the table there, it says-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Correct.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: With due respect, Mr. Walsh, you said it was €3.8 billion to NAMA. It's actually €5.3 billion of a loss experienced in the NAMA haircut, so I think if-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Yes, but equally you had €3.6 billion of home loans involved, which-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Kieran O'Donnell: Sorry, I do not wish to argue the point but I think-----