Former BOI chief expresses concern over NAMA

A former Chief Executive of Bank of Ireland has expressed concern about how the Government's bank rescue body will function.

Michael Soden says banks face a dilemma on future lending policies once NAMA pays over the €54bn for their property and development loan books.

The bill establishing NAMA was passed by the Oireachtas on Thursday.

Mr. Soden says how the banks move forward is unclear at the moment.