Ciarán Hancock

speaker

1,838 appearances 14 recordings 1 series first heard May 2026 last heard 3d ago

Ciarán Hancock’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 14 in all, peaking in Sep 2026 with 3.

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Inside Business with Ciaran Hancock · Are middle earners getting gouged by the tax system here? · 5 Aug 2026 podcast

Although we're told that the interest rate that applied to a lot of that, I won't ask you, John, whether you ever got a mortgage from Irish Nationwide or not.

Very good.

But that was the kind of lending they were doing.

And then, as you say, they suddenly began, I think it was in the 1990s, the legislation was changed which allowed building societies to venture into the financing of housing development and construction.

And that's when things became turbocharged at Irish Nationwide.

Well, it did have a board, and it did have a chairman, Michael Walsh, who worked with Dermot Desmond for many years.

Well, he agreed to, yeah.

The INBS commercial loan book surged to over 8 billion by 2008, and it's...

account for almost 80% of total loans.

Now, my memory of Michael Fingerton's appearance at the Oireachtas Banking Inquiry, which was 2015 thereabouts, is that he said that, look, you know, if I had my time back, obviously I wouldn't have grown the commercial lending to the size that it was.

We were unlucky.

Prior to the crash, this looked like a great business to be in and all the banks were in it and there was a lot of money to be made in it.

And then suddenly external factors came along and the bottom fell out of the market and obviously the loan book was exposed.

But it was fundamentally nothing wrong with the actions that they took prior to that in terms of growing the commercial loan book.

Assess the risks?

Now, he did make a fortune out of this himself, didn't he?

He got a million euro bonus around the time of the crash, which he offered to pay back.

I mean, it was IMS was subsequently nationalized, but he never did pay it back.

And his pension fund on maturity, he told the Oireachtas Bank and Inquiry, was worth €30 million.

He took over control of it himself in terms of managing it, I think is what he said.

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