Author: Practicenet

Mortgage lending at Bank of Ireland soars by 30pc in first three months of 2017

Bank of Ireland’s new mortgage lending recorded a 30pc increase in the first three months of the year versus the same period in 2016. The bank has announced that its net interest margin has increased to 2.3pc in the first three months of 2017 from 2.27pc at the end of 2016. The bank’s net interest […]

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Receiver appointed by Cardinal Capital to two Genesis Homes units

Two units of Genesis Homes, a homebuilder controlled by former McInerney Holdings chief executive Barry O’Connor, have been placed in receivership after a repayment date was missed. Bank of Ireland, which acts as security trustee on behalf of a unit of private equity group Cardinal Capital, had a receiver appointed to Genesis Homes (Mungret) and […]

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INM board members to be reclassified as non-independent

Two members of the board of Independent News and Media will be reclassified as non-independent, non-executive directors, the Irish Independent has learned. The reclassification will be confirmed when the company issues its annual report for 2016. According to its most recent annual report, issued on April 29, 2016, INM non-executive directors Mr Terry Buckley, Mr […]

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ESB and Bord na Móna in €500m solar venture to power 150,000 homes

Bord na Mona and the ESB are joining forces to develop four huge solar farms that are likely to cost in the region of €500m and generate sufficient electricity to power 150,000 homes. The four solar farms – which will generate a total of 570 megawatts of electricity – will be based in counties Roscommon, […]

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ESB and Bord na Móna in €500m solar venture to power 150,000 homes

Bord na Mona and the ESB are joining forces to develop four huge solar farms that are likely to cost in the region of €500m and generate sufficient electricity to power 150,000 homes. The four solar farms – which will generate a total of 570 megawatts of electricity – will be based in counties Roscommon, […]

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Impaired loans at State-owned AIB down 70pc from peak

The quantity of impaired loans at State-owned AIB is down 70pc from the peak levels seen in 2013, according to a first quarter trading update issued by the bank. The total value of impaired loans now on the banks books is €8.6bn, a fall of €500m since the final quarter of last year. In addition, […]

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Impaired loans at State-owned AIB down 70pc from peak

The quantity of impaired loans at State-owned AIB is down 70pc from the peak levels seen in 2013, according to a first quarter trading update issued by the bank. The total value of impaired loans now on the banks books is €8.6bn, a fall of €500m since the final quarter of last year. In addition, […]

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Dan O’Brien: How Ireland’s economy has dodged two potential bullets – for now

One-in-four people employed in the private sector in this State works for a foreign company that sells stuff to foreigners. The taxes those workers and companies pay fund a great deal of the public sector and the cost of providing public services. All this is a very unusual state of affairs when compared to our […]

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Embarrassment for AIB as bank fined €2.3m for breach of money laundering rules

State-owned AIB has been hit with a massive Central Bank fine for failing to check if it was being used for money laundering and tax evasion. The bank has to cough up €2.275m to the Central Bank for breaches of anti-money laundering legislation. The fine is a huge embarrassment for the bank, just months away […]

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Irish firms are finally facing up to Brexit – EI chief Sinnamon

Exporting companies are waking up to the fact that Brexit is now a reality and that they need to put in place a strategy to mitigate the fallout, the head of Enterprise Ireland (EI) has told the Irish Independent. Since Prime Minister Theresa May triggered Article 50 in March, companies are accepting the need to […]

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