News Tag: Bank of Ireland
July 28, 2010
Two of Ireland's most important financial institutions demonstrated their resilience this week by passing a European stress test.
The Bank of Ireland and AIB passed the test conducted by the Committee of European Banking Supervisors in partnership with the European Central Bank.
The test measured the banks' potential to survive intact through difficult economic circumstances.
Irish finance minister Brian Lenihan welcomed the test results.
The results ...
Irish banks pass stress test
by David Masters
May 12, 2010
The Post Office has launched new mortgage deals with first-time buyers in mind.
The lender is not only happy with a minimum deposit of 10% but is also allowing borrowers to choose between an interest only and capital plus interest repayment option.
For a two-year fix the rate is 5.45%, for a five-year 5.99%, and both loans come ...
Post Office courts first-time buyers with 90% LTV interest only deal
by Gill Montia
April 26, 2010
Bank of Ireland has announced plans to raise €3.4 billion (£2.9 billion) through a rights issue and private placing, in order to meet its capital needs and aid its recovery from the financial crisis.
Last month the bank, which is the Irish Republic's biggest lender, said there is no let up from the ongoing crisis in the Irish economy.
The economy ...
Bank of Ireland in €3.4bn cash call
by Kay Murchie
April 1, 2010
Anglo Irish Bank, which was nationalised in January 2009, has admitted to experiencing a difficult 15-months.
The bank has announced it made a loss of €12.7 billion (£11.4 billion) for the 15 months to the end of December.
The news came just a day after the Bank of Ireland reported a loss of €1.8 billion in the first nine months of its financial ...
Anglo Irish Bank reports record loss
by Kay Murchie
March 31, 2010
The Bank of Ireland has today reported a loss of €3 billion (£2.6 billion) in the first nine months of its financial year, with write-downs totalling €4 billion.
In a statement, the bank said: "Revenues remain under pressure, in particular due to higher funding costs as we continue to extend the maturity profile of our wholesale funding."
It also said ...
Bank of Ireland sees no end to economic crisis
by Kay Murchie
January 23, 2010
Both Northern Rock and the Post Office have launched new mortgage deals with lower rates.
The Post Office has cut the cost of its Bank of Ireland lifetime tracker loans from 3.29% to 2.99%, or from 3.59% to 3.49%, dependent upon the loan-to-value ratio.
Bank of Ireland has also reduced the price of its five-year fixed-rate offering by 0.5% ...
Mortgage rate cuts from Post Office and Northern Rock
by Gill Montia
December 2, 2009
The Government has outlined plans for the Post Office to become a ‘people’s bank’ by offering financial products.
The proposals, led by Business Secretary Lord Peter Mandelson, will create a ‘People’s Bank’, which will see Post Office outlets as the backbone of a new national bank.
According to the Government, the plans will turn the Post Office into "a leading player ...
Government unveils financial plans for the Post Office
by Kay Murchie
November 4, 2009
Bank of Ireland has today reported a pre-tax loss of €979 million for the six months to the end of September, compared to a profit of €647 million in the same period a year ago.
The bank described the last six months as "difficult" and said it was very cautious about future economic prospects, adding that there were "some indications ...
Bank of Ireland posts losses of almost €1bn
by Kay Murchie
February 2, 2009
Allied Irish Bank (AIB) and Bank of Ireland are set to receive €3.5 billion each from the Irish Government and are in discussions on providing insurance against potential losses from bad debts arising from constructions projects and land deals.
Under the terms, should any loans have to be written off, the Government will take 80% of the value of the insured ...
Ireland’s two largest banks in Government bailout
by Kay Murchie
December 22, 2008
The Irish Government has confirmed it is to provide €5.5billion (£5.12 billion) to the country's three biggest banks.
The three struggling banks, which are the Bank of Ireland, AIB (Allied Irish Bank), and Anglo-Irish, are to receive the funds in return for shares.
Anglo-Irish is set to receive €1.5 billion in return for 75% shares with an annual fixed ...
Irish Government steps in to assist country’s largest banks
by Kay Murchie
Banking News
