Business Irish

Saturday 27 May 2017

Ireland's 'safest bank' downgraded

Roisin Burke

AS Dutch operator Rabobank loses its precious triple-A rating, one investment adviser says Irish banks are among the safest.

Rabo, sponsors of the Rabodirect Pro12 -- the premier professional rugby club competition -- was the last bank still holding the Standard & Poor's mark, but the only one in Europe to be cut by two notches. The Dutch organisation advertises itself as "Ireland's safest bank" and "one of the world's safest banks".

"The Irish banks are among the safest out there at the moment," said IFG investment consultant Matt Tenwick. "They have all the capital they need, the regulators have confirmed that, they're managing to reduce their loan book and getting healthier by the day.

"I wouldn't have any issue with having money there, within the level government guarantee."

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