INBS executives didn’t have enough information to run bank, inquiry hears

Inquiry looking into allegations that at least some of four men failed to ensure commercial loan applications processed correctly

Former Irish Nationwide boss Michael Fingleton is representing himself at the Central Bank inquiry into the bank’s collapse. Photograph: Nick Bradshaw

Former Irish Nationwide boss Michael Fingleton is representing himself at the Central Bank inquiry into the bank’s collapse. Photograph: Nick Bradshaw

Irish Nationwide executives and management did not have enough information to run the lender’s business properly before the financial crisis, an inquiry heard on Wednesday.

Darragh Daly, Irish Nationwide’s head of credit risk at the time, told the Central Bank’s inquiry into the actions of the society’s ex-managing director, Michael Fingleton, and three others, that there was a general lack of understanding of risk ahead of the crash in 2008.

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