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Boom boom boom...

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    #62
    Cuddlesworth
    Registered Users Posts: 13,981 ✭✭✭✭Cuddlesworth


    Muahahaha wrote: »
    It was almost like the person responsible for analysing the property market wasn't talking to the person responsible for commercial and development lending. Hindsight is a great thing but it seems to me at least some people in BOI management realised 2006 was a great time to sell and it turned out they were bang on the money. Shame their vision didn't extend to the rest of their business.

    The person responsible for analyzing the market might have been saying that, but the person making the money from "loans" was saying something different. Its obvious which person the management was listening to.


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    #63
    MouseTail
    Registered Users Posts: 1,663 ✭✭✭MouseTail


    Cuddlesworth wrote: »
    The person responsible for analyzing the market might have been saying that, but the person making the money from "loans" was saying something different. Its obvious which person the management was listening to.

    Management were listening to their shareholders.


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    #64
    quadrifoglio verde
    Registered Users Posts: 3,670 ✭✭✭quadrifoglio verde


    Cuddlesworth wrote: »
    The person responsible for analyzing the market might have been saying that, but the person making the money from "loans" was saying something different. Its obvious which person the management was listening to.

    Then why did they allow the properties to be sold, if they believed property prices were going to continue to rise, as evidenced by their lending (reckless but not as reckless as Anglo or aib to developers).


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    #65
    MouseTail
    Registered Users Posts: 1,663 ✭✭✭MouseTail


    quadrifoglio verde wrote: »
    Then why did they allow the properties to be sold, if they believed property prices were going to continue to rise, as evidenced by their lending (reckless but not as reckless as Anglo or aib to developers).

    They didnt believe property was going to continue to rise. They did however have to deliver a dividend to their shareholders. If they didnt, the market would simply have seen value elsewhere and exited from BoI shares.


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    #66
    stevedublin
    Registered Users Posts: 979 ✭✭✭stevedublin


    MouseTail wrote: »
    ...have to deliver a dividend to their shareholders. If they didnt, the market would simply have seen value elsewhere and exited from BoI shares.

    Hehe, the market did so anyway!


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