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14/08/2009
AIB Shares Soar After Canadian Bank Offer
Shares in Allied Irish Bank have shot up this morning after it emerged a Canadian Bank has offered to take a stake in the troubled institution.
AIB was Ireland's second-biggest lender by market value, and its near collapse and litany of controversies almost crushed Ireland's economy completely.
The bank's shares increased as much as 14%, the biggest intra-day move in eight days, and is now trading at €5.89 at 10.00am.
This however is in stark contrast to it's trading price of over €60 at the height of the Celtic Tiger.
Insider sources are said to have revealed to an Irish newspaper that the Canadian bank made the approach to Allied Irish in the last two weeks. However, spokeswoman for the bank, Catherine Burke, has told financial website Bloomberg this morning that Allied Irish "doesn't comment on speculation".
It is understood that the move would only take place after AIB moves its failing development loans to the National Assests Management Agency, which could be as late as June next year, and it is not yet known if the offer is for a majority or a minority stake.
The move has received a tentatively positive reaction in the city, with Goodbody Stockbrokers saying "the market is likely to react positively to the news of a potential support from a new investor".
Meanwhile, in other financial news, Ulster bank has made the surprise announcement that it believes the worst of the economic downturn is over.
The news comes within days of similar pronouncements in France and Germany.
However, despite the optimism, the bank added that recovery in Northern Ireland would lag behind that of the rest of the UK.
See: Ulster Bank 'Says Recession Over'
(DW/BMcC)
AIB was Ireland's second-biggest lender by market value, and its near collapse and litany of controversies almost crushed Ireland's economy completely.
The bank's shares increased as much as 14%, the biggest intra-day move in eight days, and is now trading at €5.89 at 10.00am.
This however is in stark contrast to it's trading price of over €60 at the height of the Celtic Tiger.
Insider sources are said to have revealed to an Irish newspaper that the Canadian bank made the approach to Allied Irish in the last two weeks. However, spokeswoman for the bank, Catherine Burke, has told financial website Bloomberg this morning that Allied Irish "doesn't comment on speculation".
It is understood that the move would only take place after AIB moves its failing development loans to the National Assests Management Agency, which could be as late as June next year, and it is not yet known if the offer is for a majority or a minority stake.
The move has received a tentatively positive reaction in the city, with Goodbody Stockbrokers saying "the market is likely to react positively to the news of a potential support from a new investor".
Meanwhile, in other financial news, Ulster bank has made the surprise announcement that it believes the worst of the economic downturn is over.
The news comes within days of similar pronouncements in France and Germany.
However, despite the optimism, the bank added that recovery in Northern Ireland would lag behind that of the rest of the UK.
See: Ulster Bank 'Says Recession Over'
(DW/BMcC)
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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.
05 August 2009
Irish Bank Losses Rising
Northern Ireland's First Trust Bank has lost £41m, according to the latest financial statement. The report also detailed how this led to a £28m loss at the parent company Allied Irish Bank group's UK operation. AIB in The Republic has also reported a pre-tax loss of €872m for the first six months of its financial year.
Irish Bank Losses Rising
Northern Ireland's First Trust Bank has lost £41m, according to the latest financial statement. The report also detailed how this led to a £28m loss at the parent company Allied Irish Bank group's UK operation. AIB in The Republic has also reported a pre-tax loss of €872m for the first six months of its financial year.
11 September 2009
AIB To Refund €400k In Overcharges
There is no let up at the troubled Allied Irish Bank, as announces it is to return almost €400,000 to customers it overcharged on tracker mortgages. The overcharging affects 436 mortgages with the average refund being €906. The bank said the Financial Regulator had been informed of the mistake.
AIB To Refund €400k In Overcharges
There is no let up at the troubled Allied Irish Bank, as announces it is to return almost €400,000 to customers it overcharged on tracker mortgages. The overcharging affects 436 mortgages with the average refund being €906. The bank said the Financial Regulator had been informed of the mistake.
31 January 2012
Director of Corporate Enforcement Retires
The Minister for Jobs has announced that Paul Appleby, the Director of Corporate Enforcement, is to retire at the end of February.
Director of Corporate Enforcement Retires
The Minister for Jobs has announced that Paul Appleby, the Director of Corporate Enforcement, is to retire at the end of February.
13 February 2009
IL&P Directors Resign In Anglo-Gate Furore
Two senior figures in Irish Life & Permanent have resigned as the Anglo Irish Bank scandal comes to the boil. A spokesman revealed this morning that the group Finance Director Peter Fitzpatrick and Treasury Head David Gantly have tendered their resignation after a board meeting last night.
IL&P Directors Resign In Anglo-Gate Furore
Two senior figures in Irish Life & Permanent have resigned as the Anglo Irish Bank scandal comes to the boil. A spokesman revealed this morning that the group Finance Director Peter Fitzpatrick and Treasury Head David Gantly have tendered their resignation after a board meeting last night.
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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.
