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19/11/2008
Rumours Of Handout Send Bank Shares Soaring
After a dismal day of trading for Irish Banks yesterday, rumours of a monster cash injection have seen bank stocks shoot up.
However, The Taoiseach told the Dail the recapitalisation of banks alone will not solve the issue of access to credit for small businesses.
Instead, ministers are believed to be looking into acquiring assistance from private sources to help finance the bank's lack of liquidity.
During leaders' questions yesterday, Brian Cowen said the Government could not reveal details, but was looking at a range of measures to solve the problem that was causing significant stagnation for small business who rely on credit.
Despite the lack of detail, the markets are widely expecting a major recapitalistion from the government, with speculators bumping Anglo Irish Bank shares by 26% at the opening of trading.
Meanwhile, AIB were up 5% at €2.30. Bank of Ireland stock, which fell sharply last week after it announced it was cutting its dividend, gained over 7% to €1.00.
The business plans from banks covered by the Government guarantee scheme announced earlier this year, due to be submitted to the Government tomorrow, along with a report into the extent of the bank’s lending by PricewaterhouseCoopers is expected to give the government impedance to act, leading to the boosted confidence of investors.
(DW)
However, The Taoiseach told the Dail the recapitalisation of banks alone will not solve the issue of access to credit for small businesses.
Instead, ministers are believed to be looking into acquiring assistance from private sources to help finance the bank's lack of liquidity.
During leaders' questions yesterday, Brian Cowen said the Government could not reveal details, but was looking at a range of measures to solve the problem that was causing significant stagnation for small business who rely on credit.
Despite the lack of detail, the markets are widely expecting a major recapitalistion from the government, with speculators bumping Anglo Irish Bank shares by 26% at the opening of trading.
Meanwhile, AIB were up 5% at €2.30. Bank of Ireland stock, which fell sharply last week after it announced it was cutting its dividend, gained over 7% to €1.00.
The business plans from banks covered by the Government guarantee scheme announced earlier this year, due to be submitted to the Government tomorrow, along with a report into the extent of the bank’s lending by PricewaterhouseCoopers is expected to give the government impedance to act, leading to the boosted confidence of investors.
(DW)
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27 June 2014
Job Protection Must Be Priority In SME Sector - FG
Protecting jobs must be the priority when dealing with the large level of debt within the SME sector, Fine Gael has said.
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Protecting jobs must be the priority when dealing with the large level of debt within the SME sector, Fine Gael has said.
29 February 2012
Perry Calls On Businesses To Contact The Credit Review Office If Refused Access
Minister for Small Business, John Perry T.D., has today asked businesses who are having difficulty, or have been refused, access to credit to contact the Credit Review Office (CRO) to have their case examined. Minister Perry was speaking following the publication of the seventh quarterly report from John Trethowan of the Credit Review Office.
Perry Calls On Businesses To Contact The Credit Review Office If Refused Access
Minister for Small Business, John Perry T.D., has today asked businesses who are having difficulty, or have been refused, access to credit to contact the Credit Review Office (CRO) to have their case examined. Minister Perry was speaking following the publication of the seventh quarterly report from John Trethowan of the Credit Review Office.
10 May 2012
New Name For Northern Bank
Danske Bank has announced a new organisational set-up for its operations in Northern Ireland and Ireland. The new structure will take effect on 1 June 2012. The re-organisation mirrors a similar Group wide set-up being introduced in all Danske Bank operations.
New Name For Northern Bank
Danske Bank has announced a new organisational set-up for its operations in Northern Ireland and Ireland. The new structure will take effect on 1 June 2012. The re-organisation mirrors a similar Group wide set-up being introduced in all Danske Bank operations.
30 September 2008
'No Frills' Bank Accounts Urged To Combat Financial Exclusion
Universal, no-frills bank accounts should be introduced to bring financially excluded people into the banking system, the Combat Poverty Agency has urged. The agency said that 10% of Irish adults do not have any type of bank account and one in five households do not have a current account.
'No Frills' Bank Accounts Urged To Combat Financial Exclusion
Universal, no-frills bank accounts should be introduced to bring financially excluded people into the banking system, the Combat Poverty Agency has urged. The agency said that 10% of Irish adults do not have any type of bank account and one in five households do not have a current account.
01 October 2010
Jim Corr Sought Over €1.3m Debt
Musician Jim Corr and an associate are the subject of a legal action in the High Court brought by a bank seeking a €1.3million unpaid debt. The court heard yesterday the ACC Bank has began legal action against the alleged debt, serving court documents on Jim Corr at his home in Bangor, Co Down.
Jim Corr Sought Over €1.3m Debt
Musician Jim Corr and an associate are the subject of a legal action in the High Court brought by a bank seeking a €1.3million unpaid debt. The court heard yesterday the ACC Bank has began legal action against the alleged debt, serving court documents on Jim Corr at his home in Bangor, Co Down.
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Ireland WeatherThis Evening and Tonight:It will be cloudy with a spell of heavy rain pushing south through late evening and the early hours, soon followed by some clear spells. Minimum temperature 6 °C.
