Business Irish

Saturday 23 August 2014

BOI was the 'good girl' at the 'wild party' - BOI boss Richie Boucher

Donal O'Donovan

Published 12/02/2014 | 14:57

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Bank of Ireland chief executive Richie Boucher
Bank of Ireland chief executive Richie Boucher

Bank of Ireland chief executive Richie Boucher told fellow chief executives today that banks must never threaten the economy again.

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He added that his bank had a moral as well as financial imperative to repay taxpayers for support during the crash.

"There are far better uses for taxpayer euros that propping up banks," he tolod a conference organised by employers group Ibec.

The bank's chief executive said one lesson of the bust  is that when some lenders behave irrationally others should have resisted the temptation to follow suite.

Too much competition in the market in the boom led banks into unsustainable lending, he said

"At a wild party even good girls can get into trouble," he said.

The state's financial support had been repaid by Bank of Ireland, he said, the bank now has an obligation to support the economy, he said.

Irish Independent

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