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11/06/2009
Nationwide Appoints Replaces Chief Executive
Irish Nationwide has replaced their long standing chief executive, Michael Fingleton, who has been forced to resign.
Mr Fingleton, who ran the building society for almost 40 years, was forced out over the controversy surrounding a €1m bonus he received while the company's profits were spiralling out of control.
The banker was also severely criticised for arranging a €27 million pension for himself just as the State stepped in to guarantee deposits in the Irish banks with taxpayers money.
Gerry McGinn, who is currently the head of Goodbody Stockbrokers in Northern Ireland, will replace Fingleton.
The 52-year-old previously worked for 18 years at Bank of Ireland in Dublin, Belfast and London.
Under the terms of the bank guarantee scheme, Mr McGinn's salary will be capped at €360,000.
On Wednesday, it was also announced that Former Bank of Ireland chief executive Pat Molloy is to become the new chairman of the bank.
Mr Molloy is to fill the position which will be left vacant by Richard Burrows when he stands down next month. Bank of Ireland is to meet with Finance Minister Brian Lenihan today. The lender is now 25% owned by the National Pensions Reserve Fund on behalf of the State.
Mr Fingleton, who ran the building society for almost 40 years, was forced out over the controversy surrounding a €1m bonus he received while the company's profits were spiralling out of control.
The banker was also severely criticised for arranging a €27 million pension for himself just as the State stepped in to guarantee deposits in the Irish banks with taxpayers money.
Gerry McGinn, who is currently the head of Goodbody Stockbrokers in Northern Ireland, will replace Fingleton.
The 52-year-old previously worked for 18 years at Bank of Ireland in Dublin, Belfast and London.
Under the terms of the bank guarantee scheme, Mr McGinn's salary will be capped at €360,000.
On Wednesday, it was also announced that Former Bank of Ireland chief executive Pat Molloy is to become the new chairman of the bank.
Mr Molloy is to fill the position which will be left vacant by Richard Burrows when he stands down next month. Bank of Ireland is to meet with Finance Minister Brian Lenihan today. The lender is now 25% owned by the National Pensions Reserve Fund on behalf of the State.
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15 December 2011
IMF Loan Ireland €3.9bn For Austerity Expediency
Ireland is to receive a tranche of its agreed bailout deal with the International Monetary Fund, after being commended on being "ahead of schedule" on austerity. The executive board of the International Monetary Fund said it had completed its review of Ireland's implementation of the bailout programme and agreed to release a further €3.
IMF Loan Ireland €3.9bn For Austerity Expediency
Ireland is to receive a tranche of its agreed bailout deal with the International Monetary Fund, after being commended on being "ahead of schedule" on austerity. The executive board of the International Monetary Fund said it had completed its review of Ireland's implementation of the bailout programme and agreed to release a further €3.
14 December 2010
Brian Blocks Bank Bonus Bonanza
The Irish Republic's Finance Minister has blocked the payment of €40 million in bonuses by the state dependant AIB bank. Brian Lenihan wrote to Allied Irish Banks (AIB) saying that state support for AIB was now conditional on the non-payment of bonuses, no matter when they may have been earned.
Brian Blocks Bank Bonus Bonanza
The Irish Republic's Finance Minister has blocked the payment of €40 million in bonuses by the state dependant AIB bank. Brian Lenihan wrote to Allied Irish Banks (AIB) saying that state support for AIB was now conditional on the non-payment of bonuses, no matter when they may have been earned.
25 July 2012
Nama Records After Tax Profit Of €247m
Nama, the agency set up to buy bad loans and help banks balance their books, recorded a net profit of €247 million in 2011. Publishing its second annual report today, the agency said it made an operating profit, before loan impairment charges, of €1.28 billion last year, compared €305 million in 2010.
Nama Records After Tax Profit Of €247m
Nama, the agency set up to buy bad loans and help banks balance their books, recorded a net profit of €247 million in 2011. Publishing its second annual report today, the agency said it made an operating profit, before loan impairment charges, of €1.28 billion last year, compared €305 million in 2010.
24 November 2010
Irish Credit Downgraded By Agency
Ireland's difficulties seem to worsen by the hour as Standard & Poor's announce they are downgrading the State's international credit rating and placing its banks on "CreditWatch". The news comes just after another international ratings agency, Moody's, announced it would be slashing Ireland's credit rating, following the news of the Irish bailout.
Irish Credit Downgraded By Agency
Ireland's difficulties seem to worsen by the hour as Standard & Poor's announce they are downgrading the State's international credit rating and placing its banks on "CreditWatch". The news comes just after another international ratings agency, Moody's, announced it would be slashing Ireland's credit rating, following the news of the Irish bailout.
08 October 2012
PPI Banks Named
The Central Bank has announced the names of six banks under investigation for wrongly selling insurance products to customers. Independent reviews have been ordered at each of the banks to investigate the selling of payment protection insurance, calculate the scale of the problem and pay restitution.
PPI Banks Named
The Central Bank has announced the names of six banks under investigation for wrongly selling insurance products to customers. Independent reviews have been ordered at each of the banks to investigate the selling of payment protection insurance, calculate the scale of the problem and pay restitution.
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Ireland WeatherThis Evening and Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Perhaps a touch of ground frost. Cloud will spread east towards morning. Minimum temperature 2 °C.
