Of Special Interest
- Financial wellness affects half of peoples’ mental or physical health, finds report
- Study finds traditional financial institutions embrace Fintech disruption
- Grass is greener for environmentally friendly businesses, finds Barclays
- Prospective homeowners would consider a 40-year mortgage to escape renting, finds Santander
- Millennials’ needs are changing the face of banking industry, says new report
- FS is putting consumer data at risk by failing to protect mobile apps, says Arxan
- A lack of belief in their ability holds 28% women back in work, says Cambridge & Counties
- ‘Which?’ reveals Scotland has lost over a third of its bank branches in eight years
- Next downturn unlikely to be as bad as 2008, according to S&P
- FCA reveals findings from first cryptoassets consumer research
- US consumers favour single mobile app for banking and payments
- Banks suffering major IT shutdowns every day, ‘Which?’ reveals
- The US will be a key offshore centre in 2019, says GlobalData
- Debit industry changes markedly in 10 years of the Debit Issuer Study
- UK's ‘Big Five’ face ‘too big to compete’ as small challengers secure stellar returns
- Banks as vulnerable now as before crash, says new study
- Leverage ratio a constant conundrum for European and US banks, says SNL
15th November 2011
Bank of Ireland cautiously optimistic trading statement
The Bank of Ireland issued a third quarter trading statement. The statement was cautiously optimistic. It does not include any detailed financials or accounts. Key points made included:
- 1 The bank has disposed of €5bn non-core assets, one half of the amount planned to be disposed of by 2013. It is in talks regarding further disposals.
- 2 It has grown deposits in Ireland and the UK.
- 3 It is likely to make Debt Value Adjustment gains in the second half offsetting some DVA losses in the first half.
- 4 It will gain from loan loss writebacks this year but may not do in future periods.
- 5 The cost of its state guarantees will become more noticeable in future periods because of the likely lack from the above gains
- 6 The Irish economy is expanding with annualised real GDP growth of 2.3% in the second quarter of 2011 with real GNP increasing by 1.1%.
- 7 The bank raised €4bn of secured term funding on the wholesale bank without external guarantees. It did so with a weighted average duration of 2.4 years and spread of 250bps over 3 month Euribor.