The Central Bank of Ireland has concluded a long-running inquiry into the Irish Nationwide Building Society (INBS), resulting in significant penalties for former executives. John Stanley Purcell, a former board member, has been fined €130,000 and banned from the financial sector for four years due to his role in the society's governance and risk management failures. The inquiry highlighted a period between 2004 and 2008 where INBS's commercial lending practices were found to be lacking in oversight and adherence to financial regulations.

During the years under scrutiny, INBS's commercial loan book expanded dramatically from €3.59bn to €8.18bn, with commercial loans making up 78% of its total loan book by the end of 2008. The Central Bank's report detailed a culture of high-risk lending, where large sums were disbursed without proper documentation, adequate security, or necessary approvals. This reckless approach to lending was a significant factor in the society's eventual collapse during the financial crisis.

The inquiry also shed light on the broader systemic failures within INBS, including a lack of adherence to its own credit risk management policies and the absence of annual credit risk stress tests for commercial lending. Louise Gallagher, the Central Bank's head of enforcement investigations, emphasized the discovery of a pervasive culture that prioritized high-risk lending over sound financial practices. The findings underscore the importance of robust governance and risk management frameworks in financial institutions.

In addition to the penalties imposed on Purcell, the Central Bank's inquiry has led to settlements with other former INBS executives, including disqualifications and fines. The total cost of the investigation and inquiry into INBS's regulatory breaches amounted to over €24m, spanning 15 years from 2010 to 2025. This case serves as a stark reminder of the consequences of failing to uphold financial regulations and the critical need for accountability in the banking sector.

Kilcoo secured their place in Down football history on Sunday, capturing an unprecedented seventh consecutive Senior Football Championship title with a 1-17 to 1-11 victory over Carryduff at Pairc Esler. The Magpies delivered their strongest performance of the championship when it mattered most, with Paul Devlin's first-half penalty goal providing crucial separation in a hard-fought contest that saw the throw-in time pushed back to 5pm following a pitch inspection.

The match, originally scheduled for 3:30pm, saw Kilcoo demonstrate the championship experience that has defined their remarkable 12-title run over 13 seasons. Devlin's 22nd-minute penalty strike down the middle proved decisive, with the player explaining his calculated approach: "It was a big moment in the game and it needed to go in, so I didn't want to put it in the corner and the keeper has a chance if diving. I just thought I wanted to hit it hard."

Carryduff, making their first final appearance since losing to Kilcoo in the 2020 decider, mounted a second-half rally but ultimately fell short of claiming what would have been their inaugural Frank O'Hare Cup. The South Belfast club had powered past Burren in the semi-final with their full contingent available, but couldn't overcome Kilcoo's championship pedigree despite showing improved form from their previous final appearance five years earlier.

Devlin expressed satisfaction with the victory amid external skepticism, noting "it's nice to see that people want Kilcoo to fall" while emphasizing the team's resilience. "This one is sweet with how the game played out and the build-up where we were doubted in this year's championship," he told BBC Sport NI. "It just shows the character of this team. Big teams play well in big games and we have that experience to put in those big performances." The win solidifies Kilcoo's status as the dominant force in Down football, achieving a landmark that had eluded them when Burren denied their seventh consecutive title bid in 2018.