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Number of defaulted loans at Bank of Ireland fall further

“Notwithstanding currency impacts in relation to UK assets, we have reduced the volume of defaulted loans by €1.9bn from June 30 2013 to a level of €16.4bn on September 30 2014,” it said. The bank added that it was benefiting […]

Danske still writing off bad loans here despite upturn at home

Denmark’s biggest listed bank has had to cut staff and close branches to recover from the financial crisis, when it was hit hard by its exposure to Ireland as well as the sluggish Danish economy and a collapse in the […]

After debt do us part it will be a journey into the unknown

Except that, in the world of finance and economics, one has never been here before. Underlying truths may be permanent (despite the endless ill-fated attempts to deny them) but nothing ever repeats itself exactly. Take debt. Back in the 1980s […]

The banks passed a stress test! Whoopee! and it only cost us €27bn

It was also spun out as a positive indicator for the future that Irish banks might now start to lend more money. This missed the point entirely. In a country where the State bailed out the surviving banks to the […]

Business sentiment at highest level since 2006

All sectors have reported an improvement in business conditions, according to the latest KBC Bank of Ireland/Chartered Accountants Ireland Business Sentiment index. Business chiefs also claimed that Budget 2015 will have a “modest” positive impact on employment and also help […]

Corporate lending in Ireland suffers steepest fall since 2011

Ireland recorded a 12.5pc decline in corporate lending – its steepest drop since July 2011. The figures from the European Central Bank showed corporate lending decreased on an annual basis in Italy, Spain, Portugal and Ireland, but continued to rise […]

State should back away from home loan insurance

Reports suggest that the Central Bank initiative to restrict banks to lending 3.5 times income and only 20pc of the value of the property, may be offset by government intervention. One way of intervening without overly negating the financial stability […]

Software firms join forces to declare war on Chinese hackers group

The group, known as Hidden Lynx, have targeted hundreds of organisations worldwide, according to Symantec. “They use targeted attacks to infiltrate some of the most hard-to-get-into companies in the world,” said Stephen Doherty from Symantec’s response team in Dublin. Mr […]

Mortgage limits should be phased in, expert warns

This is because a sudden jump from a requirement of a deposit of 10pc to a 20pc one could be very disruptive and unfair to those who are close to getting a 10pc deposit together, consumer advocate Brendan Burgess said […]

NAMA could finish selling off assets by 2017

In its 2015 policy statement, the State bad bank said it was now on course to complete much of its business by the end of 2017 or mid-2018. As recently as July Nama was forecasting it would have completed most […]

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