That included a six-month period to April 2005, when he was put in charge of reviewing commercial loans ahead of what would prove to be an failed attempt to sell INBS. “When you look at Irish Nationwide’s policies and processes, you must take them with a pinch of salt,” Mr Fitzgibbon told a hearing on Friday. That followed a number of private hearings since last November during which confidential information on 98 sample commercial loans were examined. These accounted for 20 per cent of INBS’s commercial loans as of early 2010. Since public hearings started, the Central Bank has reached settlement agreements with two of the five former INBS figures involved – former chairman Michael Walsh and one-time head of commercial lending Tom McMenamin.

Source: The Irish Times June 11, 2021 18:11 UTC