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Irish deposits rose in March despite Cyprus fears

April 17, 2013 06:45
DUBLIN (Reuters) - Deposits held by Ireland's domestically-owned banks rose by 0.6 percent in March, data from the country's finance department showed on Wednesday, indicating no knock-on effects from the tax on savers imposed under Cyprus' bailout last month. Deposits at Bank of Ireland <BKIR.I>, permanent tsb <IPM.I> and Allied Irish Banks Group <ALBK.I> rose by 0.9 billion euros (773.31 million pounds) to 155.6 billion euros due to strong retail inflows, the department said.

Irish financial regulator Elderfield to step down

April 9, 2013 11:46
By Laura Noonan and Conor Humphries DUBLIN (Reuters) - Ireland's financial regulator Matthew Elderfield said on Tuesday he would quit after three years in which he overhauled a dysfunctional system of bank oversight and pressed lenders to deal more quickly with bad debts. Elderfield was hired in 2010 to overhaul a watchdog that had failed to rein in years of reckless lending that pushed the Irish economy and banking sector to the brink.

Rescued Irish bank AIB posts soaring annual losses

March 27, 2013 11:46
State-rescued Allied Irish Banks on Tuesday announced soaring annual net losses, despite massively scaling down its provisions for bad loans. The bank's after-tax loss jumped to 3.6 billion euros ($4.6 billion) in 2012, compared with a shortfall of 2.3 billion euros in 2011, AIB said in a statement. Allied Irish Banks, once one of Ireland's biggest banks, is almost fully state owned after receiving enormous taxpayer funds following Ireland's own financial rescue by the EU and IMF.

Rescued Irish bank AIB posts soaring annual losses

March 27, 2013 05:46
State-rescued Allied Irish Banks on Tuesday announced soaring annual net losses, despite massively scaling down its provisions for bad loans. The bank's after-tax loss jumped to 3.6 billion euros ($4.6 billion) in 2012, compared with a shortfall of 2.3 billion euros in 2011, AIB said in a statement. Allied Irish Banks, once one of Ireland's biggest banks, is almost fully state owned after receiving enormous taxpayer funds following Ireland's own financial rescue by the EU and IMF.

Irish banks told to cuts costs by up to 10 percent

March 13, 2013 12:02
DUBLIN (Reuters) - Ireland wants its main banks to cut their wage bills by as much as 10 percent after a new report on Tuesday showed that pay rates at Irish banks increased between 2008 and 2012, as the country waded through the depths of its economic crisis. The government said its state-supported banks AIB <ALBK.I>, Bank of Ireland (BOI) <BKIR.I> and Permanent TSB <IPM.I> must cut salary and pensions costs and also wants them to implement new working arrangements to deliver savings.

Bank of Ireland slumps into 1.8-bln-euro annual loss

March 4, 2013 12:53
State-rescued Bank of Ireland said on Monday that it plunged into the red in 2012 after it was hit by a soaring level of bad debts. The positive impact of a 2011 debt write-off was not repeated, therefore. BoI said in a statement that losses after tax hit 1.83 billion euros ($2.38 billion) last year. That contrasted with a net profit of 40 million euros in 2011, when it was boosted by a one-off shares-for-debt deal with its lenders.

Ex-Anglo Irish head facing second trial over bank meltdown

March 1, 2013 12:30
* Ex-Anglo CEO issued with more charges, faces second trial * Charged for misleading Anglo's auditors * Due to appear in court in March, no trial date set By Sarah O'Connor DUBLIN, March 1 (Reuters) - The former head of the defunct Anglo Irish Bank will face a second trial connected to Ireland's most expensive banking failure, charged with misleading auditors, a Dublin court heard on Friday.

Ireland's permanent tsb raises 400 mln euros new debt

March 1, 2013 06:00
DUBLIN, March 1 (Reuters) - State-owned Irish lender permanent tsb (PTSB) said on Friday it had raised 400 million euros ($523 million) fresh debt, bringing to 1 billion the amount of new debt secured against its British and Irish mortgage books this year. The smallest of Ireland's three remaining domestically-owned banks, permanent tsb was handed approval by the country's EU/IMF lenders lenders last year to eke out a viable future by moving bad assets off its balance sheet.

European shares briefly turn positive in early trade

March 1, 2013 04:45
LONDON, March 1 (Reuters) - European shares briefly turned positive in jittery early trade on Friday as investors weighed some solid corporate numbers and a strong print on Spanish data against looming U.S. budget cuts and weak Chinese numbers. The pan-European FTSEurofirst 300 hit a session high of 1,172.57 points before dipping back into the red, to trade down 0.1 percent at 1,170.65 points by 0827 GMT.

Ireland ends controversial bank guarantee

February 26, 2013 16:15
Ireland announced Tuesday it will end a controversial blanket bank guarantee scheme that was introduced in 2008 when bank shares collapsed at the onset of the eurozone crisis. "I am very pleased to announce the government's decision to end the bank guarantee for new liabilities from midnight on 28 March 2013," Irish Finance Minister Michael Noonan said Tuesday evening. The blanket guarantee, called the Eligible Liabilities Guarantee Scheme (ELGS), was introduced in September 2008 as a measure to maintain the stability of the eurozone nation's financial system.
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