Irish Investment Chief O'Dwyer Tells Government: Don't `Stick it' to Banks Aug 12, 2009
Ireland has already nationalized and pumped 7 billion euros into Bank of Ireland and Allied Irish. The only certain game in town in relation to capital is the state, said ODwyer, 50, a chartered accountant and former adviser at the finance ministry. (Bloomberg -- UK)
Tata Motors secures 75m loan for JLR Aug 11, 2009
Officials at JLR told TOI from London that the three-year loan has been extended by Burdale Financial, a member of the Bank of Ireland Group. This has been secured against inventories of Land Rover's parts and accessories and receivables in UK and US.. (India Times, India)
O'Sullivan to succeed Collins as chairman Aug 5, 2009
He is currently a non-executive director of Bank of Ireland Group, Man Group plc, Collins Stewart plc and COFRA Holding AG, Old Mutual said in a statement. It is the intention to appoint a further South African non-executive director to Old Mutual's board in the near future, in recognition of the importance of the group's South African businesses, it said. (Business Report, South Africa)
* Barclays earnings up 10% in first half Aug 4, 2009
The stock has increased five times since then, trailing only Bank of Ireland Plc. Varley profited from his decision to expand investment banking at a time when his British rivals are focused on cutting costs to help repay government bailouts. (Taipei Times, Taiwan -- Sports)
Editoial: Don’t bite on this Jul 24, 2009
If you get a letter like the following, you can be pretty sure it s a scam: I am Mr. Pino Pace, a Chartered Management Accountant and an External Auditor for the Bank of Ireland. The letter offers you a chance to share in some long-dormant account left by a rich American who, sad to say, is deceased but shares a name with you, the lucky recipient of the letter. (Albany Democrat-Herald, OR)
FTSE 100 Posts Fourth Weekly Decline; Shell, Aviva, Rio Tinto Retreat Jul 11, 2009
Bank of Ireland Plc fell 6. 3 percent to 1. (Bloomberg -- UK)
Stocks in Europe Decline; Stoxx 600 Heads for Fourth Straight Weekly Drop Jul 11, 2009
Bank of Ireland Plc and Allied Irish Banks Plc dropped more than 7 percent on concern legislation setting up a so-called bad bank may be delayed ... Bank of Ireland declined 7. (Bloomberg -- Europe)
Bulgaria is Best for a Bargain Break - But Eurozone May Cost a Lot Less Than Expected Jun 1, 2009
" Over 1,600 Post Office bureau de change branches offer the most widely requested types of foreign currency on demand, including all those featured in the Post Office City Costs Barometer (except the Malaysian ringgit, which can be pre-ordered). All type of foreign currency can be pre-ordered for next day branch collection at all 11,500 Post Office outlets or online at . Home delivery can also be requested online. Travellers to the eurozone can obtain euro foreign currency over the counter at... (Yahoo News -- Press Releases)
Anglo Irish Will Get up to $5.6 Billion in Capital From Irish Government May 31, 2009
Credit-default swaps on Bank of Ireland fell 3 to 330 and Allied Irish fell 4 to 321 ... Bank of Ireland gained 14 cents, or 9 percent, to 1. (Bloomberg -- UK)
* Banks, mining drive European rebound May 24, 2009
Bank of Ireland PLC soared 44 percent after the Dublin-based lender announced plans to buy back debt to boost capital. Vedanta Resources PLC, Lonmin PLC and Anglo American PLC jumped more than 10 percent. (Taipei Times, Taiwan -- World)
Bank of Ireland to Buy Back Debt After Loan Losses Cut Annual Profit 97% May 19, 2009
Bank of Ireland to Buy Back Debt After Profit Declines 97% - Bloomberg ... Bank of Ireland to Buy Back Debt After Profit Declines 97 ... Bank of Ireland will set aside 6 billion euros in the three years to 2011 to cover losses on real estate loans as the Irish economy suffers its worst ever contraction after the collapse of a decade-long property boom. (Bloomberg -- UK)
NI house prices drop 35% in year May 15, 2009
6% fall in the last three months of 2008, according to the University of Ulster Quarterly House Price Index, produced in partnership with the Bank of Ireland and the Northern Ireland Housing Executive ... Economist Alan Bridle, Bank of Ireland head of research in Northern Ireland, said prices had fallen by almost 40% from their peak. (BBC News -- UK)
SAP Announces First Quarter 2009 Results Apr 29, 2009
In the first quarter of 2009, SAP closed major contracts in several key regions including EWE Aktiengesellschaft, Papadopoulos Biscuits, SNCF, and The Bank of Ireland Group in EMEA; Banco de Credito de Colombia, Centerpoint Energy, Open Range Communications and Westinghouse Electric in Americas; and Kingfisher Airlines, Kubota Corporation, Liaoning Electric Power, National University of Singapore in the Asia Pacific Japan region. On March 18, SAP announced a new version of the SAP... (PR Newswire)
European Stocks Post Longest Winning Streak Since 2006 as UBS, BNP Advance Apr 19, 2009
Bank of Ireland Plc slid 21 percent. Allied Irish Banks Plc, the countrys biggest lender by market value, sank 23 percent. (Bloomberg -- Europe)
Irish banks boosted by debt deal Apr 12, 2009
Such a move had been anticipated in the market, with Irelands two biggest banks gaining momentum since the start of March Allied Irish Banks up 240 per cent and Bank of Ireland 380 per cent. Under the plan, a new National Asset Management Agency will be charged with buying up to 90bn in toxic bank assets at a discounted price. EDITORS CHOICE. (FT.com -- Markets)
All Irish banks have ratings cut Apr 9, 2009
Before Brussels gave its backing, shares in Allied Irish Bank and Bank of Ireland both fell by about a third ... In early afternoon trade, Allied Irish was 20% lower and Bank of Ireland down 5. (BBC News -- Business)
Irish bank shares fall over credit-rating cut Apr 8, 2009
03 and Bank of Ireland 5 per cent down at 0 ... The action, unveiled Tuesday in an emergency budget that sharply raised income taxes and cut spending, followed government moves earlier this year to seize control of one bank, Anglo Irish, and take 25 per cent stakes in Ireland's two largest banks, Allied Irish and Bank of Ireland ... Moody's cut its long-term financial strength grades on seven financial institutions Allied Irish, Bank of Ireland, Irish Life & Permanent, ICS Building Society and... (Globe and Mail -- Business)
Largest Danish Real Estate Player Chooses Innovation Over Stagnation Apr 8, 2009
They include Merrill Lynch, Lloyds Banking Group, US Bank, Nationwide Building Society, T-Mobile, Telenor, Fingerhut, Bank of Ireland, Bank of Tokyo and Fiserv Banking Solutions. Denmark is an important market for Portrait and other customers include TrygVesta, 3 Mobile, Bonnier, Ekstrabladet, Berlingse Tidene and Jyllandsposten. (Yahoo News -- Press Releases)
Brown's building society collapse... Mar 29, 2009
Santander, National Australia Bank and Bank of Ireland are among those believed to have been approached by Treasury officials about buying the savings book, along with a number of building societies including Nationwide, Yorkshire and Skipton. Related Links. (New York Post -- Business)
Barclays shares jump after test Mar 28, 2009
Separately, the Bank of Ireland said it would not need any more loans from the Irish government. The bank got 3. (BBC News -- Business)
IRS Challenges AIG Unit Tax Deals: Report Mar 24, 2009
Banks that worked with AIG on tax deals include France's Credit Agricole SA , Bank of Ireland and Bank of America Corp , the paper said, citing AIG's lawsuit ... AIG, the IRS, Credit Agricole SA, Bank of Ireland and Bank of America could not immediately be reached for comment by Reuters. (ABC News -- Wire)
Let's shoot all the bankers by Simon Sweetman Mar 23, 2009
And we need a publicly owned bank to do straightforward things probably a Post Office Bank (though watch out because my Post Office credit card is operated by the Bank of Ireland, which has some form itself in these matters). Ideas as to how we might design this would be welcome. (Accounting Web, UK)
700m waste project for Mancheste... Mar 8, 2009
Four banks Bank of Ireland, BBVA, Lloyds and Sumitomo Mitsui are providing the bulk of the funds, with additional contributions from the Greater Manchester Waste Disposal Authority and the European Investment Bank, according to Reuters Project Finance International, the authoritative industry newsletter. The scheme will be operated by Viridor, the waste-management arm of the Pennon utility group, which is working in a joint venture with Laing. (New York Post -- Business)
Irish Life & Permanent Says It Doesn't Need Government Financial Support Mar 4, 2009
4 billion) apiece into Allied Irish and Bank of Ireland. We dont need any capital from the government, Finance Director told reporters. (Bloomberg -- UK)
Irish Life's fill-year earnings drop Mar 4, 2009
14 billion pounds) into each of Ireland's top two banks, Allied Irish Banks and Bank of Ireland , but the scheme has failed to impress equity investors who are waiting to see how the government tackles the sector's rising bad debts. McCarthy said merger talks between Irish Life and the Educational Building Society were on hold while the government mulls over whether to create a UK-style insurance scheme for soured debt, the establishment of a "bad bank" or some other solution to the sector's... (International Herald Tribune)
Ireland signals radical financial overhaul Mar 2, 2009
5-billion into each of Bank of Ireland and Allied Irish Banks with a possible British-style insurance scheme for their bad debts or the establishment of a bad bank to section off soured assets. AIB and Bank of Ireland have nearly doubled their provisions for bad debts, mostly related to loans to property developers, and investors fear there may be more shocks in store. (Globe and Mail -- Business)
* Seven nabbed in Irish spectacular Mar 2, 2009
The Bank of Ireland in College Green, Dublin, is pictured on Saturday, one day after US$8 ... Reports in Ireland said the Garda, or police, made their move after identifying a known criminal gang as the prime suspects for the theft from the Bank of Irelands landmark branch in the center of the capital. (Taipei Times, Taiwan -- Business)
Allied Irish FY in line but warns on 2009 Mar 2, 2009
5 billion euros into AIB and the same amount to rival Bank of Ireland to bolster their capital position and revive the flow of credit to a rapidly shrinking economy. But AIB's shares have fallen by nearly two thirds since the recapitalisation scheme was announced in mid-February reflecting the market's view that it is not enough. (International Herald Tribune)
* Dublin gangsters steal US$8.9m in bank raid Mar 1, 2009
9 million from the safe of the main branch of the Bank of Ireland in College Green Dublin, Ireland, on Friday, police said ... 9 million) from the Bank of Ireland in Dublins College Green. (Taipei Times, Taiwan -- World Business)
Irish Police Arrest Seven People After Country's Biggest Bank Robbery Mar 1, 2009
Bank of Ireland confirmed yesterday that the man was an employee and that cash was stolen. Tiger kidnappings are becoming increasingly prevalent and banks should change their security procedures to prevent single employees from accessing large sums of cash, lawmaker Charlie Flanagan said in an e-mailed statement today. (Bloomberg -- UK)
Click here to watch AP Video. World Briefs Mar 1, 2009
On Friday, six armed, masked men stormed into the rural home of Bank of Ireland worker Shane Travers. They tied up his partner, her 5-year-old son and her mother, and told Travers they would be killed unless he cooperated. (Erie Times-News, PA)
Seven held after 6.2m Dublin raid Feb 28, 2009
The money was taken from the Bank of Ireland at College Green in Dublin ... 2m) from the Bank of Ireland branch at College Green, Dublin ... The gang had forced their way into the home of Bank of Ireland employee Shane Travers in County Kildare on Thursday night. (BBC News -- UK)
Dublin Police Hunt Hostage-Taking Gang Who Raided Bank of Ireland Branch Feb 28, 2009
The Bank of Ireland confirmed that the man was an employee and that cash was stolen, and declined to comment further. Police are appealing for information on a red Toyota Celica car and a black Volkswagen Golf used in the attack. (Bloomberg -- UK)
tp_bulkViewer.add("itemnumcomments","id=z5c00a53c195b608b8825756a007da4b7"); Feb 28, 2009
Hostage-takers steal millions from Bank of Ireland : North County Times - Californian 02-28-2009 ... Hostage-takers steal millions from Bank of Ireland ... DUBLIN (AP) ---- A Bank of Ireland employee was coerced into stealing an estimated 9 million from his own branch Friday, police said, after a gang took his family hostage and threatened to kill them unless he cooperated. (North County Times)
Employee forced to steal millions from Bank of Ireland Feb 28, 2009
DUBLIN A Bank of Ireland employee was coerced into stealing the equivalent of about $11-million (Canadian) from his own branch Friday, police said, after a gang took his family hostage and threatened to kill them unless he co-operated ... Police Superintendent John Gilligan said six masked gang members armed with handguns and a shotgun targeted the Bank of Ireland official, Shane Travers, at his rural home southwest of Dublin on Thursday night. (Globe and Mail)
Hostage-takers steal millions from Bank of Ireland Feb 28, 2009
DUBLIN (AP) ---- A Bank of Ireland employee was coerced into stealing an estimated 9 million from his own branch Friday, police said, after a gang took his family hostage and threatened to kill them unless he cooperated ... Police Superintendent John Gilligan said a six-strong masked gang armed with handguns and a shotgun targeted the Bank of Ireland official, Shane Travers, at his rural home southwest of Dublin on Thursday night. (North County Times)
Irish protests fuel calls to drop levy plan Feb 25, 2009
The anger is exacerbated by the realisation that the 7bn ($9bn, 6bn) the government plans to inject to recapitalise Allied Irish Banks and Bank of Ireland is being provided by the National Pensions Reserve Fund, a sovereign wealth fund set up to pre-finance the pensions bill of public servants retiring after 2025. The Financial Times Limited 2009. (Financial Times)
House prices drop sharply again Feb 24, 2009
Alan BridleBank of Ireland ... Bank of Ireland economist Alan Bridle said the latest research contained "both clouds and silver linings". (BBC News -- UK)
Further trials in store for the struggling euro Feb 16, 2009
Last week, Ireland's efforts to support its banking sector hit bumps as a deposits scandal at Anglo Irish Bank overshadowed the government's move to beef up its bank rescue package for Allied Irish Banks and Bank of Ireland, the country's main lenders. L'Or. (International Herald Tribune -- Business)
Post a comment Feb 16, 2009
For example in Ireland we have the case where the CEO of Bank Of Ireland received last year around 3. 5 millions (around this) and this year he will be only earning around 2 million from the bank. (International Herald Tribune -- Business)
Euro zone's fringe countries in a bind Feb 15, 2009
Unfortunately, everything that could go wrong did go wrong, said Dan McLaughlin, chief economist at Bank of Ireland, the nation's No. 2 bank ... 6-billion) into the Bank of Ireland and the same amount into bigger Allied Irish Bank to help them cope with debts and restore foreign confidence in Irish banking ... The government is offering the aid, in part, because Bank of Ireland and Allied Irish couldn't persuade international investors to do the same. (Globe and Mail)
Irish minister urges tough punishment in bank row Feb 15, 2009
The deposit revelations at Anglo Irish eclipsed Dublin's efforts this week to restore some credibility to its banking sector and the wider economy with a 7 billion euro bailout for its top two lenders, Bank of Ireland and Allied Irish Banks. Anglo Irish Bank said on Friday that it was conducting a comprehensive review of the transactions and confirmed that it had "sought and received deposits" from IL&P during 2008, including the last two weeks of September. (International Herald Tribune)
European Stocks Fall for First Week in Three After Earnings Miss Forecasts Feb 15, 2009
Bank of Ireland sank 28 percent and Allied Irish plunged 42 percent. Fortis dropped 24 percent after shareholders rejected the state-organized breakup of what was once Belgiums largest financial-services company. (Bloomberg -- Europe)
Matt Cooper: Cowen should walk plank with bankers Feb 15, 2009
Bank of Ireland boss Brian Goggin, who worries that a tougher regulatory regime will see his pay packet fall to less than 2m, is departing office in June, a year early ... The public are right to be concerned about the 7 billion that has been invested on their behalf in AIB and Bank of Ireland. (Times Online)
`Another Day, Another Scandal' as Ireland Unravels Decline of Anglo Irish Feb 14, 2009
5 billion euros each into Allied Irish and Bank of Ireland Plc, seeking to cushion the impact of surging bad debts. Earlier, the government had planned to inject 2 billion euros and underwrite a further 1 billion euros of shares for each bank. (Bloomberg -- UK)
Irish Life directors walk, CEO stays in scandal Feb 13, 2009
50 billion) worth of deposits made with Anglo in the run-up to its financial year-end, eclipsed the launch on Wednesday of a government bailout package for the country's top two banks, Bank of Ireland and Allied Irish, and prompted calls for the resignation of the Minister for Finance Brian Lenihan. Lenihan had signalled on Wednesday that Irish Life's chief executive Denis Casey should go. (Reuters)
Question of control over banks awaits Geithner at G-7 meeting Feb 13, 2009
Bank of Ireland, warned on Thursday that it would report a loss for the second half of this year and estimated bad loan charges of 4 ... Such a figure dwarfs the companies' respective market valuations 600 million for Bank of Ireland and about 1 billion for Allied Irish, a reflection of the extreme pessimism in the market. (International Herald Tribune)
Ireland's Government Injects $9 Billion to Bolster Country's Biggest Banks Feb 12, 2009
Bank of Ireland said today its three-year loan impairment charge may amount to as much as 6 billion euros ... Bank of Ireland said today it will make a fiscal second-half loss, without giving details, as it increases the amount of money set aside to cover bad loans ... The preference shares issued by Allied Irish and Bank of Ireland will pay a fixed 8 percent dividend. (Bloomberg -- UK)
Allied Irish, BHP, BT Group, Diageo, Rio Tinto: U.K., Irish Equity Preview Feb 12, 2009
(ALBK ID): Allied Irish and Bank of Ireland Plc (BKIR ID) will receive 7 billion euros ($9 ... Bank of Ireland fell 8. (Bloomberg -- UK)
Rescue plan for Ireland's banks Feb 12, 2009
The Allied Irish Bank and the Bank of Ireland will each receive 3 ... Many Britons use Bank of Ireland financial services offered through the UK's network of 16,000 Post Offices ... Bank of Ireland said: "The package of measures will enable Bank of Ireland to play a full role in supporting our customers and aiding economic recovery.". (BBC News)
Bank of Ireland says adequately capitalised Feb 12, 2009
DUBLIN (Reuters) - Bank of Ireland (BKIR.I) said on Thursday it was adequately capitalised and able to absorb loan losses after the government's pledge to inject 3 ... 5 billion euros each into Allied Irish Banks (ALBK.I) and Bank of Ireland (BKIR.I) in return for guarantees on lending, executive pay and mortgage arrears will restore confidence to the financial system ... "Bank of Ireland is adequately capitalised on the basis of receiving this 3.5 billion," chief financial officer John... (Reuters UK)
IRELAND PLANS AID FOR BANKS Feb 12, 2009
Ireland's government will invest 7 billion euros ( 9 billion) in Allied Irish Banks Plc and Bank of Ireland Plc, cushioning a rise in bad debts as the economy shrinks. The government will pump 3. (New York Post -- Business)
Ireland to take control of banks... Feb 12, 2009
5 billion, each for Allied Irish Banks and Bank of Ireland, a Finance Ministry official said. Bloomberg News reported later Wednesday night that the ministry confirmed the move in an e-mail message. (The Drudge Report)
US urges global action as Australian stimulus flounders Feb 12, 2009
US lawmakers agreed a compromise 789 billion dollar stimulus package while South Korea cut interest rates to a record low and Ireland announced a nine billion dollar liquidity injection into its top two banks, Allied Irish Bank and Bank of Ireland. Lawmakers were set to battle over the Australian legislation after Prime Minister Kevin Rudd told parliament the government would reintroduce a revised plan later Thursday. (Yahoo! Asia News)
Bank of Ireland warns of loss after government bailout Feb 12, 2009
Bank of Ireland on Thursday warned it would make a loss in the second half of its business year, hours after receiving a state injection of 3 ... The Irish government beefed up its bank bailout package as expected on Wednesday with more capital pledges to the two top banks, Bank of Ireland and Allied Irish Banks, but efforts to restore credibility to the sector and the wider economy were shattered by yet another scandal ... Bank of Ireland, Ireland's second-largest bank by market value, on... (International Herald Tribune)
Where the jobs have been lost Feb 11, 2009
Bank of Ireland in consultation on planned closure of mortgage office in Solihull, with 165 staff facing redundancy ... Bank of Ireland in consultation on planned closure of mortgage office in Reading, Berkshire, with 270 staff facing redundancy. (BBC News -- UK)
Irish bank cancels bonuses for top staff Feb 10, 2009
The government is finalising a re-capitalisation deal with the country's two biggest banks, Allied Irish Bank and Bank of Ireland, with media speculation suggesting it will involve seven billion euros being split between them. Finance Minister Brian Lenihan said on RTE state television at the weekend that the government wanted to see "dramatic reductions" in the whole area of salaries, bonuses and remuneration. (Business Report, South Africa)
4 5 Hot Trends for 2009 Feb 9, 2009
The FEMA year-end data leak, the CEO subpoena attack, the Bank of Ireland data theft, the stolen Anheuser-Busch laptops that exposed the personal information of thousands of current and former employees I could go on and on with this list all prove that data leaks were a major security headache in 2008. I m not going out on a limb when I predict that they ll continue to be a big problem in 2009. (CIO Information Network)
World Bank Free Market Policy Duplicity Feb 8, 2009
6 billion cash injections for both Bank of Ireland and Allied Irish Bank. The Japanese Government last week passed a budget containing some 36 billion of measures that are aimed at jump-starting the national economy. (Ghana Web, Ghana)
