Deal involves an initial €5m being paid for 95% of Dublin-based Artificial Intelligence Finance

Firm says loans were typically refinanced by borrowers switching to another lender or selling their home

Bank of Ireland, which has 2% market share, was among lenders previously thought to face compensation bills of up to £40bn

Net interest income decreased by 10 per cent year-on-year to €1.87m

Loans were originally financed by UK investment firm M&G

Fall in net interest income and rising costs hit bottom line despite growth in loans and deposits

Company posts $1.2bn of Ebitda in second quarter

Shares in Datalex have slumped about 85% since the group was hit by an accounting scandal in early 2019 and then the pandemic

Dublin-based group aims to return to a progressive dividend policy of 20-40% of net profits

Lender gets little credit for improved interest income

US company uses materials like fly ash, a byproduct of coal combustion, to partly replace cement in the construction sector

Lower interest rates trim bank’s net interest income though not by as much as expected and lender maintains medium-term targets

Irish financier to leave business he built up

Debt restructuring will see senior unsecured bondholders and holders of high-risk PIK notes swap $4.2bn of debt for equity in Ardagh Group

AER floated in 2019 and had a wind, solar and hydro power portfolio with a capacity of 435MWs across Scandinavia, Greece, Spain and Portugal