Future heavy losses predicted over loansEXPOSURES: ANGLO IRISH Bank has a number of “very large exposures”, with about 15 customers each owing more than €500 million…Sat Feb 21 2009 - 00:00
Anglo gave 'long-standing clients' €451m in loans to buy 10% of sharesLOANS FOR SHARES: ANGLO IRISH Bank has revealed that it lent 451 million – far more than the previous €300 million estimate – …Sat Feb 21 2009 - 00:00
Anglo faced deposit flight and mounting lossesANGLO IRISH BANK REPORT: TWO MONTHS after Seán FitzPatrick’s hidden multimillion euro loans were revealed at Anglo Irish Bank…Sat Feb 21 2009 - 00:00
State hires Bacon for 'bad bank' roleTHE GOVERNMENT has hired economist Dr Peter Bacon to assess the possibility of creating a “bad bank” or risk insurance scheme…Fri Feb 20 2009 - 00:00
AIB raises bad debt forecast to €1.8bnALLIED IRISH Banks (AIB) has almost doubled its bad debt forecast for 2008 and nearly halved its earnings estimate in an unexpected…Fri Feb 20 2009 - 00:00
Resignation not linked to commercial issues - INBSIRISH NATIONWIDE: IRISH NATIONWIDE has said that there were “no commercial issues” behind the decision of Dr Michael Walsh to…Thu Feb 19 2009 - 00:00
Green Party chairman asks who within society expedited loans from AngloDIRECTORS' LOANS: GREEN PARTY chairman Senator Dan Boyle yesterday questioned who at senior level within Irish Nationwide facilitated…Thu Feb 19 2009 - 00:00
No bonus for Ulster Bank chief executiveTHE CHIEF executive of Ulster Bank Group, Cormac McCarthy, will receive no bonus payment for 2008 or a pay increase for 2009 …Wed Feb 18 2009 - 00:00
Liabilities of Irish-owned banks 'are third highest in eurozone'THE TOTAL liabilities of the Irish-owned banks are the third highest in the eurozone, amounting to €575 billion or 309 per cent…Wed Feb 18 2009 - 00:00
Nationwide credit rating downgradedIRISH NATIONWIDE will be forced to pay investors more for new funding after its debt ratings were downgraded by international…Tue Feb 17 2009 - 00:00
Anglo and IL&P in dispute over €7bn transactionA MAJOR dispute has developed between Anglo Irish Bank and Irish Life Permanent (IL&P) over the nature of the €7Sat Feb 14 2009 - 00:00
KBC's parent bank lost €6.5bn last year in corporate depositsTHE BELGIAN parent bank of KBC Bank Ireland (formerly IIB Bank), the State’s fifth-largest mortgage lender, said it lost €6.5…Fri Feb 13 2009 - 00:00
IL&P directors under pressure to step downPRESSURE MOUNTED last night on directors and senior management at Irish Life & Permanent (IL&P) to resign over the bank…Fri Feb 13 2009 - 00:00
Irish Life & Permanent in crisis meeting amid growing pressureA meeting of the board of Irish Life & Permanent (IL&P) is continuing tonight as pressure mounts on the company’s directors…Thu Feb 12 2009 - 00:00
Major disparities emerge on €7bn deposit with Anglo IrishSIGNIFICANT differences emerged yesterday between the Financial Regulator and Irish Life & Permanent (IL&P) about whether…Thu Feb 12 2009 - 00:00
Clouds gather over IL&P deposit of €7bn at AngloIRISH LIFE & Permanent’s placing of €7 billion on deposit with Anglo Irish Bank before the the bank’s financial year-end …Thu Feb 12 2009 - 00:00
S&P review boosts IL&P credit ratingsIRISH LIFE Permanent (IL&P) has had its credit ratings removed from “watch” for a possible downgrade by debt rating agency…Wed Feb 11 2009 - 00:00
Deposits show Anglo scrambled to get money on balance sheetANALYSIS: IRISH LIFE & Permanent’s placing of up to €7 billion in deposits with Anglo Irish Bank before the bank’s financial…Wed Feb 11 2009 - 00:00
IL&P put €6-7bn on deposit with Anglo in monthIRISH LIFE & Permanent (IL&P) placed a total of €6-7 billion on deposit with Anglo Irish Bank during the month of September…Wed Feb 11 2009 - 00:00
Regulator investigating ILP deposit in Anglo IrishThe Financial Regulator is investigating the placing of a multi-billion euro deposit with Anglo Irish Bank before the end of …Tue Feb 10 2009 - 00:00
Banks resist two-year moratorium for mortgage defaultersALLIED IRISH Banks (AIB) and Bank of Ireland are resisting Government pressure to agree to wait up to two years before taking…Tue Feb 10 2009 - 00:00
Lynn insurance policies declared voidTHE DECISION to declare void insurance policies provided by two companies to Michael Lynn means that investors and banks have…Tue Feb 10 2009 - 00:00
Political unity in Ireland urgedTHE ECONOMIC crisis facing Ireland is so severe that there is “a very strong case” for the political parties to form a government…Mon Feb 02 2009 - 00:00
Lagarde calls for joint action on crisisEUROPE FACES greater social unrest unless co-ordinated measures are quickly taken to solve the global economic crisis and to …Mon Feb 02 2009 - 00:00
Brown calls for better international crisis prevention co-operationBRITISH PRIME minister Gordon Brown has called for changes to the global financial architecture and for greater international…Sat Jan 31 2009 - 00:00
Irish economy afloat because of euro, says SutherlandPETER SUTHERLAND, the Irish chairman of energy giant BP, the world’s fourth-largest company, says that Ireland’s economy has …Sat Jan 31 2009 - 00:00
Property tax yet to be decided - CowenTAOISEACH BRIAN Cowen has said the introduction of a proposed property tax is “speculation” and a decision will be made by the…Sat Jan 31 2009 - 00:00
McCreevy says Ireland safer in euroBANKING REGULATION: EU INTERNAL market commissioner Charlie McCreevy says he fears what might have happened had Ireland not …Fri Jan 30 2009 - 00:00
Cowen meets top foreign investorsTAOISEACH'S VISIT: Taoiseach Brian Cowen met senior executives from 14 foreign firms which between them have invested $14 billion…Fri Jan 30 2009 - 00:00
Cowen rejects comparisons between Ireland and IcelandThe Taoiseach Brian Cowen has rejected as inaccurate comparisons between Ireland and Iceland made in a speech by European Commission…Fri Jan 30 2009 - 00:00
Pressure on banks to hoard capital is making recession worse, says TrichetEUROPEAN CENTRAL Bank (ECB) president Jean-Claude Trichet issued repeated warnings to financial markets at the Davos economic…Fri Jan 30 2009 - 00:00
Decline in INM value not a concern for O'BrienDENIS O'BRIEN REACTION: Businessman Denis O'Brien says he is not concerned at the dramatic fall in the value of his investment…Fri Jan 30 2009 - 00:00
Putin puts the boot in to US and Dell chief at DavosPOLITICAL CHIEFS shuffled the doom-and-gloom performers from the world of business off the stage at the Davos economic festival…Fri Jan 30 2009 - 00:00
Bankers must create 'climate of responsibility', says ArchbishopARCHBISHOP OF Dublin Dr Diarmuid Martin says bankers have to create “a climate of responsibility from within”.Thu Jan 29 2009 - 00:00
Chill in air as delegates negotiate slippery slopesGLOOMY DOESN’T describe the mood at Davos this year. Funereal comes closer.Thu Jan 29 2009 - 00:00
Heads of state in leading role as bankers avoid limelightFEWER SENIOR figures from the world of banking are expected to attend the annual Davos forum, which starts today, as government…Wed Jan 28 2009 - 00:00
Move good assets out of bad banks, Soros saysBillionaire investor George Soros said he would move good assets out of bad banks in a form of nationalization in an attempt …Wed Jan 28 2009 - 00:00
Ulster Bank to cut 750 jobs and merge First ActiveULSTER BANK is cutting up to 750 jobs across its businesses on the island of Ireland and its sister bank, First Active, will …Tue Jan 27 2009 - 00:00
Alberta's downturn after many boom years tied to dramatic fall in oil priceTHERE ARE bumper stickers on cars in the Canadian province of Alberta that say: “Oh Lord, give me another boom – I promise not…Fri Jan 16 2009 - 00:00
Anglo Irish set to name head of UK arm as chief executiveANGLO IRISH Bank is expected to name the head of the bank’s UK operations, Declan Quilligan, as its new chief executive.Thu Jan 15 2009 - 00:00
FitzPatrick Anglo loans were more than €87mTHE SECRET loans to former Anglo Irish Bank chairman Seán FitzPatrick exceeded €87 million at times over the eight years he concealed…Wed Jan 14 2009 - 00:00
ILP seeks to raise €1bn with bond saleIRISH LIFE Permanent (ILP) says it will seek to raise at least €1 billion in the coming weeks through the sale of a bond covered…Tue Jan 13 2009 - 00:00
Call on Government to consider buying housesTHE GOVERNMENT could buy houses or provide more “soft loans” for social housing in a bid to kick-start the property market and…Tue Jan 13 2009 - 00:00
Ex-Anglo chairman's loans over €87m, committee toldThe loans to the former Anglo Irish Bank chairman Sean FitzPatrick exceeded €87 million over the eight years he concealed them…Tue Jan 13 2009 - 00:00
Lenihan says Government bailout of Anglo was 'not a discretionary item'I NTERVIEW : Recent actions were necessary to save Irish banking, asserts Brian LenihanSat Jan 10 2009 - 00:00
Government borrows €6bn at higher rateTHE GOVERNMENT has raised €6 billion of at least €20 billion it will need to borrow this year to cover the State’s expenditure…Fri Jan 09 2009 - 00:00
BoI seeking up to 600 job cuts as it reduces UK mortgage salesBANK OF Ireland is seeking to cut up to 600 jobs in its 4,000-strong UK workforce by ending the sale of mortgages through brokers…Fri Jan 09 2009 - 00:00
IDA chief still optimistic on attracting foreign firmsTHE HEAD of the IDA has said the State agency is "guardedly optimistic" about attracting more foreign companies to Ireland this…Wed Jan 07 2009 - 00:00
State move to borrow billions will test standing of economyTHE GOVERNMENT has begun the process of borrowing billions from world bond markets to finance the running of the State as it …Tue Jan 06 2009 - 00:00
