Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Economy
In reply to the discussion: STOCK MARKET WATCH - Monday, 20 February 2012 [View all]xchrom
(108,903 posts)19. Bank of Ireland returns to net profit, deposits up
http://hosted.ap.org/dynamic/stories/E/EU_IRELAND_EARNS_BANK_OF_IRELAND?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-02-20-04-00-51
DUBLIN (AP) -- Bank of Ireland, the only one of Ireland's six banks to avoid nationalization, on Monday reported it returned to net profit in 2011 thanks to heavy debt restructuring in the face of continued losses from dud loans.
Bank of Ireland said it netted euro40 million ($52.8 million) in profit thanks in part to a euro230 million tax refund. The Dublin-based bank recorded a net loss of euro609 million in 2010.
It is the first Irish bank to record a net profit of any kind since Ireland's long-booming economy came crashing down in 2009 amid a burst property bubble.
Bank of Ireland underscored its funding strength versus its two surviving domestic rivals, state-owned Allied Irish Banks and Irish Life & Permanent. Its deposits increased 9 percent to euro71 billion, chiefly at the bank's British division, while its reliance on short-term liquidity loans from the European and Irish central banks fell 29 percent to euro22 billion.
DUBLIN (AP) -- Bank of Ireland, the only one of Ireland's six banks to avoid nationalization, on Monday reported it returned to net profit in 2011 thanks to heavy debt restructuring in the face of continued losses from dud loans.
Bank of Ireland said it netted euro40 million ($52.8 million) in profit thanks in part to a euro230 million tax refund. The Dublin-based bank recorded a net loss of euro609 million in 2010.
It is the first Irish bank to record a net profit of any kind since Ireland's long-booming economy came crashing down in 2009 amid a burst property bubble.
Bank of Ireland underscored its funding strength versus its two surviving domestic rivals, state-owned Allied Irish Banks and Irish Life & Permanent. Its deposits increased 9 percent to euro71 billion, chiefly at the bank's British division, while its reliance on short-term liquidity loans from the European and Irish central banks fell 29 percent to euro22 billion.
Edit history
Please sign in to view edit histories.
75 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
What Lies In Store For The "Cradle That Rocks The World" - A History Lesson In Crisis
Demeter
Feb 2012
#9
Lloyd Blankfein Seen Lunching In Boca With A Certain Former President Joe Weisenthal, Julie Zeveloff
Demeter
Feb 2012
#16
84 Percent of San Francisco Foreclosures Fraudulent--Why are Bankers Still Getting Away with Crimes?
xchrom
Feb 2012
#40
Goldman Sachs ex-programmer freed from prison and another under investigation
TalkingDog
Feb 2012
#43