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Saturday, November 21 2009

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Bank of Ireland Group

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THE Bank of Ireland is one of the 'Big Four' commercial banks on the island of Ireland.

Historically, the premier banking organisation in Ireland, today Bank of Ireland is second only to AIB. The bank was formed by an Act of the Irish Parliament in 1782 and its first governor was a member of a wealthy Hugenot family, David LaTouche. In 1958, the Bank took over the Hibernian Bank Limited and in 1965 the National Bank of Ireland Limited, and rebranded them as Bank of Ireland. In 1956 the Bank was authorised to operate the Prize Bond scheme, on behalf of the government, and continued to do so until 1989. In September of 2008 the bank denied reports that it was in takeover discussions with Spanish banking giant Banco Santander, but its share price has been suffering the same fate as other banks and has fallen dramatically since the start of the year.

Bailout is not for bonuses

Saturday November 21 2009

JEAN-CLAUDE Trichet, you say it best. The head of the European Central Bank summed up in simple terms what we now expect from the banks and the people who run them, in return for their rescue.

A catalogue of misery

Saturday November 21 2009

THE catalogue of misery is recorded in detail in our news pages. Hundreds of people evacuated from their homes and business in Ballinasloe; patients moved to higher floors in the Mercy Hospital in Cork; hotel guests evacuated in Killarney; 20,000 people without phone connections; and a family, including an 87-year-old woman, winched to safety by a helicopter in Galway.

Markets stalked by fear of end to eight-month rally

Saturday November 21 2009

The Dublin market finished the week with a flat session, the ISEQ ending with a gain of 8.09 to 2875.92. Over the course of the week, however, the ISEQ shed 3.7pc -- a move in line with the mood across Europe, where stocks posted their first weekly decline since October.

awkward legacy

Saturday November 21 2009

John Corrigan, who was appointed to succeed Michael Somers as National Treasury Management Agency (NTMA) boss this week, has long been considered the heir apparent at the organisation.

New bank guarantee scheme gets EU backing

Saturday November 21 2009

European Union regulators approved the Government's revised plans to guarantee bank deposits and debt to stabilise its financial industry.

Bad start gets worse for markets

Friday November 20 2009

It was a gloomy day on the markets in Dublin and the rest of Europe with shares retreating across the board from the start of trade.

A man speaks on a phone as he stands on the balcony above the DAX board at the Frankfurt stock exchange yesterday. European stocks were up 0.5pc, rising for the ninth time in 11 sessions, led by banks while buoyant commodity prices boosted shares of oil producers and miners such as Rio Tinto.

Flat trading on ISEQ as AIB revises its bad debt guidance

Thursday November 19 2009

DUBLIN stocks were flat yesterday with the market advancing by a fraction in relatively modest trading as the ISEQ Index posted a 6.55 point rise to 2906.36.

Mixed fortunes for SMEs but key is staying in contact with banks

Thursday November 19 2009

It's a cliché of our time that the top economic priority is to "get banks lending again". We hear of cash-strapped but otherwise healthy companies going to the wall because lending institutions refuse to offer a credit lifeline.

Planning is now the critical factor for small businesses seeking credit

Thursday November 19 2009

In the past six months small businesses have become more accustomed to banks requiring more information before extending credit facilities, according to Damian Young, head of small business at Bank of Ireland.

Directors who oversaw system's near-collapse are still in place

Thursday November 19 2009

THE country's two largest banks still have many of the same directors who were in charge at the time of the near collapse of the banking system.

New Central Bank chief wants salary cap lifted

Thursday November 19 2009

THE new governor of the Central Bank has come out against capping the salaries of top-earning bank executives.