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    ALLIED IRISH BANK- Fakten-Thread: NEWS, ANALYSEN, RATINGS - 500 Beiträge pro Seite

    eröffnet am 22.09.09 07:26:49 von
    neuester Beitrag 26.04.17 09:40:29 von
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      Avatar
      schrieb am 22.09.09 07:26:49
      Beitrag Nr. 1 ()
      Bitte nur o.g. einstellen, dient zur Informationsbeschaffung....
      soll kein Disk.-Board sein !
      Avatar
      schrieb am 22.09.09 07:35:20
      Beitrag Nr. 2 ()
      So hier nun f. alle NEUEN im Board, die wichtigsten Gegebenheiten aus dem Jahr 2009:


      Allied Irish Banks: Jahresgewinn deutlich gesunken

      02.03.2009
      aktiencheck.de

      Dublin (aktiencheck.de AG) - Die Allied Irish Banks plc (ISIN IE0000197834 / WKN 861542), das größte Kreditinstitut in Irland, gab am Montag bekannt, dass ihr Gewinn im abgelaufenen Geschäftsjahr deutlich zurückgegangen ist, was mit drastisch gestiegenen Rückstellungen für Kreditausfälle zusammenhängt.

      Der Nettogewinn aus dem laufenden Geschäft belief sich demnach auf 885 Mio. Euro, gegenüber 2,07 Mrd. Euro im Vorjahr. Der operative Gewinn sank von 2,25 Mrd. Euro auf 862 Mio. Euro. Die Nettozinseinnahmen konnten indes von 3,42 Mrd. Euro auf 3,87 Mrd. Euro zulegen.

      Die Rückstellungen für Kreditausfälle erreichten im Berichtszeitraum ein Volumen von 1,82 Mrd. Euro, gegenüber 106 Mio. Euro in der Vorjahresperiode.
      Avatar
      schrieb am 22.09.09 07:36:10
      Beitrag Nr. 3 ()
      Allied Irish Banks benötigt zusätzliches Kapital

      20.04.2009
      aktiencheck.de

      Dublin (aktiencheck.de AG) - Die Allied Irish Banks plc (ISIN IE0000197834 / WKN 861542) benötigt in Zusammenhang mit der internationalen Finanzkrise weiteres Kapital.

      Wie aus einer am Montag veröffentlichten Pressemitteilung des Finanzkonzerns hervorgeht, will man sich zusätzlich zu den vom irischen Staat zugesagten Finanzhilfen in Höhe von 3,5 Mrd. Euro weitere 1,5 Mrd. Euro sichern, um die Kernkapitalquote weiter zu verbessern. Ein zuletzt von der irischen Finanzaufsicht durchgeführter "Stress-Test" habe gezeigt, dass man zusätzliches Kapital benötige, um gegen eine weitere Verschlechterung der Rahmenbedingungen an den internationalen Kapitalmärkten ausreichend gewappnet zu sein.

      Die zusätzlichen 1,5 Mrd. Euro sollen vornehmlich durch den Verkauf von Unternehmensteilen erlöst werden, teilte das irische Finanzinstitut weiter mit.
      Avatar
      schrieb am 22.09.09 07:37:07
      Beitrag Nr. 4 ()
      Allied Irish Banks Upgrade

      12.06.2009
      IIR Group

      Rating-Update:

      London (aktiencheck.de AG) - Der Analyst der IIR Group, Paresh Jain, stuft die Aktie der Allied Irish Banks (ISIN IE0000197834 / WKN 861542) von "sell" auf "hold" herauf. Das Kursziel werde bei 2,07 GBP gesehen.
      Avatar
      schrieb am 22.09.09 07:37:54
      Beitrag Nr. 5 ()
      Allied Irish Banks rutscht in die roten Zahlen

      05.08.2009
      aktiencheck.de

      Dublin (aktiencheck.de AG) - Die Allied Irish Banks plc (ISIN IE0000197834 / WKN 861542) musste im ersten Halbjahr angesichts deutlich gestiegener Rückstellungen für faule Kredite und Wertberichtigungen einen deutlichen Ergebniseinbruch hinnehmen.

      Wie aus einer am Mittwoch veröffentlichten Pressemitteilung hervorgeht, verbuchte man beim operativen Ergebnis im Berichtszeitraum einen Verlust von 658 Mio. Euro, nach einem operativen Gewinn von 1,10 Mrd. Euro im Vorjahreszeitraum. Bereinigt um Rückstellungen für faule Kredite und Wertberichtigungen hat man im Berichtszeitraum einen Rückgang beim operativen Ergebnis von 6 Prozent auf 1,74 Mrd. Euro hinnehmen müssen. Unter dem Strich wurde beim Nettoergebnis ein Verlust von 829 Mio. Euro verzeichnet, nach einem Nettogewinn von 1,04 Mrd. Euro im Vorjahreszeitraum.

      Anzeige

      Als wesentliche Ursache für den deutlichen Ergebnisrückgang verwies die Bank auf die weiter verschlechterten Rahmenbedingungen im Privatkundengeschäft sowie bei Finanzanlagen. Dies konnte nur teilweise durch Kostensenkungen kompensiert werden.

      Für das laufende Fiskaljahr erwartet man ein weiteres Anhalten der schwierigen Rahmenbedingungen, geht jedoch dank der nach wie vor guten Marktposition davon aus, gestärkt aus der Krise hervorzugehen und weitere Marktanteile hinzugewinnen zu können.

      Trading Spotlight

      Anzeige
      Was die Börsencommunity nach Ostern auf keinen Fall verpassen willmehr zur Aktie »
      Avatar
      schrieb am 22.09.09 07:38:39
      Beitrag Nr. 6 ()
      Allied Irish Banks will Kapitalbasis stärken

      17.09.2009
      aktiencheck.de

      Dublin (aktiencheck.de AG) - Die Allied Irish Banks plc (ISIN IE0000197834 / WKN 861542) will sich frisches Kapital beschaffen.

      Wie das zweitgrößte irische Kreditinstitut am Mittwochabend erklärte, will es seine Kapitalbasis um 2 Mrd. Euro erhöhen. Die Mittel sollen von Investoren sowie durch den Verkauf von Vermögen eingebracht werden. Die Voraussetzung hierfür werde durch den Verkauf fauler Kredite an eine Bad Bank geschaffen, hieß es weiter.
      Avatar
      schrieb am 22.09.09 07:40:10
      Beitrag Nr. 7 ()
      09.09.2009 16:58
      BRIEF-Moody's cuts UT2 debt ratings of AIB, Bank of Ireland

      http://www.finanznachrichten.de/nachrichten-2009-09/14905435…
      Avatar
      schrieb am 22.09.09 07:41:36
      Beitrag Nr. 8 ()
      17.09.2009 11:11
      UPDATE 1-AIB, Bank of Ireland soar after 'bad bank' details

      http://www.finanznachrichten.de/nachrichten-2009-09/14973943…
      Avatar
      schrieb am 22.09.09 07:45:26
      Beitrag Nr. 9 ()
      17.09.2009
      Banken
      Irische Banken könnten Verstaatlichung abwenden
      von Jeffrey Goldfarb (breakingviews.com)

      Wie es aussieht haben die irischen Banken eine Galgenfrist erhalten. Das Damoklesschwert der Verstaatlichung hing schon in der Luft, während die Regierung über den Konditionen ihrer Bad Bank brütete. Aber so, wie das Modell jetzt aussieht, könnten irische Banken dem Galgenstrick entkommen.

      Der Staat will rund 77 Milliarden Euro an notleidenden Immobilien- und Baukrediten mit einem Abschlag von 30 Prozent auf ihren Nominalwert übernehmen. Für AIB und BoI - die im Rahmen des Programms zusammen Vermögenswerte im Volumen von 40 Milliarden Euro verkaufen werden - heißt das nach Schätzungen von Nomura Research, sie müssen insgesamt noch 3,8 Milliarden Euro aufnehmen, um wieder eine angemessene Kapitalausstattung zu erreichen.

      Weil das Angebot des irischen Staates 15 Prozent über dem Marktpreis liegt, bleibt es dem heimischen Bankensektor aber erspart, weitere 7 Milliarden Euro aufbringen zu müssen. Ein zusätzlicher Kapitalbedarf in dieser Höhe hätte die Banken wohl mit ziemlicher Sicherheit in die Arme des Staates getrieben.

      Mit ihrem Lösungsmodell haben die Politiker jedoch auch versucht, Bedenken zu begegnen, dass die Bad Bank die Steuerzahler zu stark belastet, während sie zu generös mit den Aktionären umgeht. Das Risiko soll dadurch gleichmäßiger verteilt werden, dass der irische Staat einen Teil der Zahlungen in Form von nachrangigen Schuldtiteln leistet, die nur beglichen werden, wenn sich die angekauften schlechten Kredite vollständig erholen. Noch ist allerdings unklar, ob das reicht, um die Opposition, geschweige denn die Europäische Union zu überzeugen. In Holland nimmt die EU gegenwärtig eine ähnlich konstruierte Bad Bank genau unter die Lupe, die Vermögenswerte von ING mit einem Aufschlag auf den Marktpreis übernommen hat.

      Der Schnitt wird wohl nicht für alle Banken gleich ausfallen und die Bewertungsansätze, die die Regierung bei der Immobilienbewertung zugrunde legt, sind nach wie vor unbekannt. Aber der Preisaufschlag sowie die wieder freundlichere Stimmung an der Börse werden es den Banken erleichtern, Kapital auf kommerziellem Wege aufzunehmen. AIB gab bereits bekannt, mit einem potenziellen Interessenten zu verhandeln, konkret mit CIBC. Die Erholung im Finanzsektor hat jedenfalls dazu geführt, dass die Banken sich wieder einer ganz robusten Nachfrage gegenübersehen - man denke nur an die jüngste Kapitalerhöhung der spanischen Bank Popular. Ein breiterer Aufschwung wird auch dazu führen, dass Verkäufe wieder einfacher werden. Analysten gehen davon aus, dass AIB aus dem Verkauf der US-Bank M&T mindestens 600 Millionen Euro erlösen kann.

      Die Anleger sind mit Sicherheit erleichtert. AIB-Aktien konnten am Donnerstagmorgen bereits um 20 Prozent zulegen, BoI stiegen um 8 Prozent. Aber die Übernahme der Schulden wird zu einer Zunahme der irischen Staatsverschuldung um 30 Prozent des BIP führen. Die Erholung bei Gewerbe- und Wohnimmobilien ist zu gering und erst von zu kurzer Dauer, um jetzt schon Vertrauen zu rechtfertigen. Dass die irischen Banken dem Tod noch einmal von der Klinge gesprungen sind, heißt nur, dass ein Investment keine Alles-oder-Nichts-Entscheidung mehr ist. Eine gute Investition sind Banken darum noch lange nicht.


      http://www.handelsblatt.com/finanzen/breakingviews/irische-b…
      Avatar
      schrieb am 22.09.09 07:49:27
      Beitrag Nr. 10 ()
      01.09.2009 15:35
      Deutsche Bank hebt Ziel für Allied Irish Banks auf 2,70 Euro - 'Hold'

      Die Deutsche Bank hat das Kursziel für Allied Irish Banks (AIB) auf 2,70 Euro angehoben, die Einstufung aber auf "Hold" belassen. Die irische Bank habe im ersten Halbjahr 2009 stark eingebüßt und dürfte den Prognosen zufolge auch bis 2012 Geld verlieren, hieß es in einer am Dienstag vorgelegten Studie. Sollte AIB jedoch keine weitere Kapitalerhöhung benötigen, könnte ein Gewinn je Aktie auf 49 Cent erwirtschaftet werden.

      http://www.finanznachrichten.de/nachrichten-2009-09/14836865…
      Avatar
      schrieb am 22.09.09 08:27:17
      Beitrag Nr. 11 ()
      Avatar
      schrieb am 22.09.09 12:19:41
      Beitrag Nr. 12 ()
      Hier die INTERNATIONALEN Verflechtungen v. AIB !!!

      Avatar
      schrieb am 22.09.09 12:52:17
      Beitrag Nr. 13 ()
      RT-Chart:

      Einfach nur auf akt. gehen (Broser) !!!

      Avatar
      schrieb am 22.09.09 20:51:59
      Beitrag Nr. 14 ()
      Hier einige Irische Zeitungsberichte !!!


      Monday, September 21, 2009
      DDDA to buy Zoe group property
      In this section »


      SIMON CARSWELL

      THE DUBLIN Docklands Development Authority (DDDA) agreed to buy 51 apartments from Liam Carroll’s beleaguered Zoe development group, which is appealing the High Court’s rejection of its rescue plan to the Supreme Court for the second time this week.

      The group cited the DDDA’s purchase of the apartments as one of the measures in the survival plan proposed to the courts.

      The group told the High Court that the purchase of the apartments at Castleforbes Square and Northbank in the docklands would generate €10.9 million in sales.

      The court was told that contracts were issued to the DDDA but were not yet signed. The group had 815 completed residential units at August 13th, 2009.

      Zoe is appealing a High Court ruling rejecting an unprecedented second bid for protection and the appointment of an examiner.

      Allied Irish Banks (AIB), which is owed more than €500 million by the group, and Bank of Scotland (Ireland), which is owed about €340 million, are the two largest lenders to the insolvent group.

      AIB agreed to lend Zoe €27.3 million from August to the end of the year to repay trade creditors.

      The group plans to pay creditors €13.9 million during the remainder of this year, almost €2.5 million in 2010 and €205,000 in 2011. AIB provided €20 million and Bank of Scotland (Ireland) €10 million to settle with creditors to stop any threats to wind up Zoe companies over unpaid debts. The banks are also rolling up interest owed by Zoe.

      Part of the AIB loans were used to fund the group’s overheads.

      Loans from the bank were also used to repay creditors of Orthanc, another Carroll-controlled group.

      This article appears in the print edition of the Irish Times
      Avatar
      schrieb am 22.09.09 20:52:52
      Beitrag Nr. 15 ()
      Monday, September 21, 2009
      Solicitors ordered to repay €3m loan to AIB
      In this section »


      CAROL COULTER Legal Affairs Editor

      A FIRM OF solicitors has been ordered by the High Court to repay a loan of €3 million plus interest to Allied Irish Banks (AIB) after it failed to comply with undertakings given when the loan was made by the bank to one of its clients.

      In a case that will have implications for future cases and for the professional indemnity insurance of all solicitors, Mr Justice Michael Peart found that the solicitors were liable for the full amount of the loan, obtained on a property valued at €3.9 million in May 2007 and now considered to be worth no more than €620,000.

      The Co Wexford property at the centre of the case, known as Moongate, was owned at the time by a syndicate, with a mortgage of €2.2 million from Anglo Irish Bank.

      Two members of the syndicate, accountant Alan Hynes and his wife Noreen, sought to buy the property and borrowed €3 million from the local branch of Allied Irish Bank, where they were well known. The bank accepted a valuation of €3.9 million from CBRE.

      Séamus Maguire and Co Solicitors acted for Mr and Mrs Hynes, while a long-standing employed solicitor in the firm, Fergal Dowling, was directly responsible for dealing with the couple.

      He completed a form of undertaking sent by the bank, had it signed by a partner in the firm and returned it. This document undertook to apply all the funds exclusively towards the purchase of the property. The €3 million, minus administration charges, was released to the solicitors.

      The next day Mr Dowling obtained a bank draft for €2 million on this account and sent it, not to Anglo Irish Bank to discharge the mortgage on Moongate so as to have it transferred to Mr and Mrs Hynes, but to another firm of solicitors, Taylor and Buchalter.

      These were acting for the vendors of a totally different property in Dalkey, Co Dublin, valued at €20 million, which a company controlled by Mr Hynes was also engaged in buying. The €2 million was a deposit on this property.

      Mr Hynes’s firms went into examinership at the end of 2008.

      Neither Mr Hynes nor Mr Dowling gave evidence in the case and Mr Justice Peart said: “Only they know between them what, if any, conversations took place between them in relation to the pressures mounting in relation to the deposit on the Dalkey site.”

      However, he said he was entitled to conclude that the fact that the Moongate money was not paid to Anglo on drawdown was deliberate and not through oversight.

      He said he had sympathy for the situation in which the defendants found themselves in as a result of the actions of an employee, but in all circumstances the firm was liable for the full amount of the loan and the interest due.

      This article appears in the print edition of the Irish Times
      Avatar
      schrieb am 22.09.09 20:54:55
      Beitrag Nr. 16 ()
      Saturday, September 19, 2009
      Ryan predicts increased State ownership of banks
      Minister for Communications, Energy and Natural Resources Eamon Ryan and Minister for Finance Brian Lenihan arrive at the Global Irish Economic Forum in Dublin.Minister for Communications, Energy and Natural Resources Eamon Ryan and Minister for Finance Brian Lenihan arrive at the Global Irish Economic Forum in Dublin.
      Photograph: Alan Betson
      In this section »


      GREEN PARTY Minister Eamon Ryan yesterday said Nama’s €54 billion purchase of loans with a face value of €77 billion will lead to further Government capital injections into the banks and increased State ownership.

      Mr Ryan, Minister for Communications, Energy and Natural Resources, said the Government was paying €7 billion more than the market value of the loans, but added that there may be a steeper discount once every loan is valued by Nama by the middle of next year.

      “If there is any downside risk, it will be to the banks in terms of the State paying less rather than the State paying more,” he said.

      He said the interest of the taxpayer was protected by the withholding of €2.7 billion of the €54 billion through the issuing of subordinated bonds as a deferred part of the payment for the loans.

      The State would also be further protected on the overpayment by increased Government ownership of the banks and by the introduction of a levy across the sector once Nama winds down if it is left with a loss. “I think there will be a capital requirement and that will lead to increased State ownership,” he said.

      Even without greater State ownership, he felt the Government’s 25 per cent stakes in Allied Irish Banks (AIB) and Bank of Ireland, and its full ownership of Anglo Irish Bank would be sufficient to meet any shortfall incurred by Nama. He said a levy was the least effective means of protecting the taxpayer and would only be used as a last resort.

      If Nama made a loss, it would be borne first by the banks as the Government would withhold part or all of the deferred €2.7 billion payment. For example, if Nama loses €2.7 billion, the banks would take 100 per cent of the losses through the subordinated debt issued.

      Credit ratings agency Fitch said that Nama was a positive development in the medium to longer term as it removes a burden and allows the lenders to concentrate on providing more resilient and traditional banking services.

      It affirmed the ratings of AIB, Bank of Ireland, Anglo and Irish Nationwide and downgraded the long-term issuer default rating of EBS.

      “The introduction of Nama should allow the institutions to return to profitability faster, to support more readily the local economy and to improve their liquidity,” said Fitch analyst Matthew Taylor. “In addition, the restructuring should encourage the institutions’ rehabilitation in the money and capital markets.”

      Nama will “place pressure” on AIB’s capital, Fitch said, and Anglo was likely to require further capital reflecting the serious credit problems at the bank.

      Bank of Ireland has “emerged in better condition” than AIB or Anglo, the agency said. If the bank were to raise capital it would be to strengthen its position “and not as external support to address serious problems”.

      Fitch said Irish Nationwide has “serious problems and was likely to require external support” due to Nama-related loan losses eroding the building society’s equity and allowances for bad loans. Ratings agency Moody’s said that Nama would not immediately lead to rating changes for the five participating institutions.

      This article appears in the print edition of the Irish Times
      Avatar
      schrieb am 22.09.09 21:00:51
      Beitrag Nr. 17 ()
      Hier der Link zu d. Irischen Presse:

      Irishtimes:

      http://www.irishtimes.com/search/index.html?rm=listresults&f…


      Daily Irish Independent:

      http://www.independent.ie/search/index.jsp
      Avatar
      schrieb am 22.09.09 21:02:26
      Beitrag Nr. 18 ()
      Bad bank discount tallies with Moody's stress tests




      By Joe Brennan

      Tuesday September 22 2009

      LEADINg credit ratings agency Moody's said yesterday that the 30pc discount the country's banks face on loans bound for the National Asset Management Agency (NAMA) is in line with its own stress tests.

      Government plans to leave banks with €2.7bn of the risk associated with NAMA paying €54m for risky property loans will not have an impact on the country's or lenders' creditworthiness, it added.

      But the agency said it was "illusory to believe that the marginal credit protection" for taxpayers "is meaningful".

      "After all, in the current crisis, the balance sheet of the Government and those of the assisted banks have essentially merged," it added.

      Moody's said the entire NAMA project "remains a balancing act between preserving the Irish economy's strength on the one hand and the country's government financial strength on the other."

      Taoiseach Brian Cowen reiterated yesterday that the State would increase its stakes in the banks if they required more capital to repair their balance sheets as a result of the NAMA writedowns.

      Taxpayers already stand to take up to a 25pc stake in both Allied Irish Banks and Bank of Ireland in five years' time, following on from a €3.5bn state recapitalisation of each earlier this year.

      However, both banks laid out their stall late last week on how they hope to avoid resorting to the Government for further cash.

      Options

      AIB has said it plans to raise €2bn over the next 18 months, with options including shares sales, the potential flogging of a stake to a strategic investor, and asset disposals.

      Bank of Ireland, which analysts believe will need to raise between €1bn and €1.5bn as a result of NAMA, said it believes that "equity could be internally generated" or through access to the capital markets.

      But the bank has all but poured cold water on hopes in certain quarters of the market that it may launch a 'rights issue' share sale to existing investors by the end of the current year.

      Meanwhile, Fitch has downgraded EBS Mortgage Finance's residential mortgage covered securities from 'AAA' to 'AA'.

      It follows on from the credit agency's move last Friday to cut its stance on EBS from 'BBB' to 'BBB-'.

      - Joe Brennan
      Avatar
      schrieb am 23.09.09 07:24:59
      Beitrag Nr. 19 ()
      Leider nicht so "GUT" gelaufen...

      Nachbörslich NASDAQ

      9/23/2009 Market Closed
      NASDAQ Last Sale
      9.43 USD 0.04 PLUS 0.43%
      Avatar
      schrieb am 24.09.09 07:41:00
      Beitrag Nr. 20 ()
      Stakes must be sold to new buyers -- OECD



      By Brendan Keenan

      Thursday September 24 2009

      GOVERNMENTS which have acquired stakes in banks during rescue operations should not sell them to existing bank groups or bidders with more than modest debt, economists at the Organisation for Economic Cooperation and Development (OECD) said yesterday.

      Governments around the world have acquired minority and majority stakes in banks as a means of boosting their capital and keeping them solvent during the financial crisis.

      The Irish Government has 25pc stakes in Allied Irish Banks and Bank of Ireland and this figure may rise if the Government has to put more capital into the banks, as they write off their NAMA losses.

      Strategies

      Some analysts think the State could end up as the majority shareholder in AIB. It already owns 100pc of Anglo Irish Bank.

      The Group of 20 large economies have agreed that they should start to prepare exit strategies, covering the withdrawal of large borrowings, low interest rates, creation of money and liquidity, and support to the banking system.

      The selling of government stakes in banks will be part of those exit strategies.

      In the report on the priorities that should guide the withdrawal of bank support measures, the OECD said governments should seek to tap new pools of capital when it comes to selling their stakes.

      "Existing banks should be avoided, as sales to banks provide no new capital to the system as a whole," the OECD's economists said, adding that sales to pension funds, sovereign wealth funds, some private equity funds, and even private individuals would be preferable.

      Stakes

      The OECD also warned against sales to buyers that already have high levels of borrowing, or who borrow to buy those stakes.

      "Equity that is financed by borrowing is only an apparent increase in equity for the system," the economists said.

      "A test for potential credible long-term owners is that their own leverage should be modest at most," they said.

      - Brendan Keenan


      http://www.independent.ie/business/world/stakes-must-be-sold…
      Avatar
      schrieb am 25.09.09 07:19:48
      Beitrag Nr. 21 ()
      24.09.2009 17:34
      UPDATE 1-'Bad bank' clarity helps AIB raise 1 bln euros

      DUBLIN, Sept 24 (Reuters) - Allied Irish Banks raised 1 billion euros ($1.47 billion) of three-year funding on Thursday in a bond issue it said reflected the clarity which Ireland's 'bad bank' scheme has given international investors.

      http://www.finanznachrichten.de/nachrichten-2009-09/15041888…
      Avatar
      schrieb am 27.09.09 15:50:00
      Beitrag Nr. 22 ()
      AIB Closes E1b Senior Unsecured Unguaranteed Bond Issue

      Published:25-September-2009

      By Staff Reporter

      The deal was priced at a spread over mid-swaps of 250 basis points with in excess of 230 international investors




      Dublin, Ireland-based AIB (Allied Irish Banks) Capital Markets has closed a E1 billion three-year senior unsecured unguaranteed bond issue. Reportedly, this was the first senior unsecured unguaranteed bond issue from any Irish bank since the government guarantee was introduced in September 2008.

      The deal was priced at a spread over mid-swaps of 250 basis points with in excess of 230 international investors, reflecting a well diversified geographic profile and was oversubscribed by 2.9 times.

      Colm Doherty, managing director of AIB Capital Markets, said: “The positive reaction of the international markets by investing in unsecured and unguaranteed bonds of AIB reflects the clarity and certainty brought by National Asset Management Agency. This deal represents a very significant step towards the normalisation of the international credit markets stance towards Irish banks and bodes well for future unguaranteed issuance from the Irish financial system.”
      Avatar
      schrieb am 27.09.09 15:52:27
      Beitrag Nr. 23 ()
      RPT-CORRECTED-UPDATE 2-AIB set to gain $3 bln from assets-broker

      By Andras Gergely

      DUBLIN, Sept 25 (Reuters) - Allied Irish Banks would gain 2 billion euros ($2.9 billion) in cash by selling its stakes in two U.S. and Polish banks, but wants to keep its holding in Poland's BZ WBK, a brokerage said on Friday.nell told Reuters.


      http://www.finanznachrichten.de/nachrichten-2009-09/15052688…
      Avatar
      schrieb am 28.09.09 10:10:30
      Beitrag Nr. 24 ()
      Was anderes-habt ihr das mit dem Stresstest gelesen????

      Banken mit Kreditverlusten bis zu 400 Mrd..EU-Stresstests.

      Zweiundzwanzig europäische Großbanken könnten einem Zeitungsbericht zufolge 2009 und 2010 Kreditverluste von insgesamt fast 400 Mrd. Euro anhäufen. Das berichtete die "International Herald Tribune" am Samstag unter Berufung auf Personen, die mit den Ergebnissen des Banken-Stresstests in der Europäischen Union (EU) vertraut sind.

      HB BRÜSSEL. Ende kommender Woche beraten die EU-Finanzminister auf einem informellen Treffen im schwedischen Göteborg über die Ergebnisse. Die Minister hatten den Expertenausschuss für europäische Bankenaufsicht (CEBS) Anfang des Jahres mit dem Belastungstest beauftragt.

      Nach früheren Informationen aus EU-Kreisen ist der Test positiv verlaufen. "Der europäische Bankensektor ist definitiv nicht in Gefahr. Die Ergebnisse sind besser als von den meisten Leuten erwartet" :cool: sagte eine mit der Überprüfung vertraute Person am Freitag. Die Bankenbranche in der Europäischen Union könnte sogar noch eine Verschärfung der Wirtschaftskrise aushalten, hieß am Freitag von insgesamt drei EU-Vertretern weiter.

      http://www.handelsblatt.com/unternehmen/banken-versicherunge…
      Avatar
      schrieb am 28.09.09 14:05:41
      Beitrag Nr. 25 ()
      ... habe heute meine Dividende der AIB bekommen: 0,3825 Euro / Stück :eek::eek::eek::eek::eek::eek:
      Avatar
      schrieb am 28.09.09 14:45:41
      Beitrag Nr. 26 ()
      ... kann mir vielleicht irgend jemand sagen für welches Jahr die Dividende war?
      Avatar
      schrieb am 28.09.09 14:48:45
      Beitrag Nr. 27 ()
      Antwort auf Beitrag Nr.: 38.068.908 von freiwilder am 28.09.09 14:05:41ich leider nicht...halte aber auch erst seit April 2009.

      ich bekomm dann erst nächste jahr didivende oder??
      Avatar
      schrieb am 07.10.09 07:49:14
      Beitrag Nr. 28 ()
      05.10.2009 11:30
      Allied Irish Banks: 3 Euro-Marke überschritten
      Allied Irish Banks überschreitet die 3 Euro Marke. Die Prognose für Allied Irish Banks für Montag den 12. Oktober ist 3,32 Euro.



      http://www.finanznachrichten.de/nachrichten-2009-10/15117704…
      Avatar
      schrieb am 07.10.09 07:51:48
      Beitrag Nr. 29 ()
      Last Updated: Monday, October 5, 2009, 10:35
      AIB, BoI 'need to raise extra funds'



      AIB and Bank of Ireland are among a number of European banks that need to raise a combined $78 billion in additional capital, according to JPMorgan Chase analysts.

      European banks may need to raise $38 billion to buy back stakes that are owned by governments and an additional $40 billion to meet stricter capital requirements, analysts Kian Abouhossein and Cormac Leech said in a note to clients today.

      Leaders of the Group of 20 countries last month agreed to develop rules to require banks to hold more and better-quality capital and cap leverage. Regulators may demand banks have a minimum core tier 1 capital ratio, a measure of financial strength, of 8 percent, JPMorgan said.

      Commerzbank, Germany's second-largest bank, has the highest capital deficit at $17 billion, the analysts said. AIB and Bank of Ireland may have to raise $10 billion and $7 billion respectively, while Societe Generale, France's second-largest bank, needs $6 billion in additional capital, they said.

      Intesa Sanpaolo, Banca Monte dei Paschi di Siena and Deutsche Bank have capital deficits of about $5 billion each, the analysts estimated. By contrast, HSBC Holdings, UBS AG and Credit Suisse Group have the highest amounts of excess capital, according to the analysts'calculations.

      The total capital deficit of $78 billion excludes $67 billion that Royal Bank of Scotland Group and Lloyds Banking Group would together need to raise if they dropped out of the British government's Asset Protection Scheme, the analysts said.

      "Given the magnitude of these capital needs, we believe a complete withdrawal of the APS is highly unlikely," they said.

      Bloomberg
      Avatar
      schrieb am 15.10.09 14:34:36
      Beitrag Nr. 30 ()
      Rt-Chart:




      Avatar
      schrieb am 15.10.09 20:52:47
      Beitrag Nr. 31 ()
      15.10.2009 17:37:00 (HUGIN)
      CAPITAL EXCHANGE OFFERING 2009 - AMENDMENT TO PPS

      FOR IMMEDIATE RELEASE 14th October 2009 ("AIB") (NYSE: AIB) AIB UK I LP (the "Limited Partnership") (a limited partnership organised under the laws of England and Wales) Notice to the holders of the ¤1,000,000,000 Fixed Rate/Floating Rate Guaranteed Non-voting Non-cumulative Perpetual Preferred Securities having the benefit of a subordinated guarantee of Allied Irish Banks, p.l.c. (a company incorporated with limited liability in Ireland) (ISIN:XS0208105055) (the "PPS") Announcement of Amendment to PPS The terms of the PPS have been amended by way of a supplemental limited partnership agreement dated 9 October 2009 (the "Supplemental Limited Partnership Agreement") to, inter alia, permit the redemption of the PPS held by AIB Capital Exchange Offering 2009 Limited ("AIB Capital"). The consideration for the redemption is the transfer to AIB Capital of subordinated notes issued by AIB Holdings (N.I.) Ltd. (as held by the Limited Partnership) not exceeding 99 per cent. of an aggregate nominal amount of PPS redeemed and consideration (in cash) on the terms set out in the Supplemental Limited Partnership Agreement. The Supplemental Limited Partnership Agreement is available for inspection at the specified offices of the Paying and Transfer Agents for so long as any of the PPS remain outstanding. AIB UK I LP Registered Office: AIB Bankcentre Belmont Road Uxbridge Middlesex UB8 1SA Dated: 13 October 2009 This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement. http://www.aibgroup.com Copyright © Hugin AS 2009. All rights reserved.
      Avatar
      schrieb am 15.10.09 21:38:40
      Beitrag Nr. 32 ()
      AIB launches 15 new business centres to support SME customers

      15th October 2009
      16:05

      Speaking to over 1,000 business leaders at the Dublin Chamber of Commerce annual dinner on Thursday 15th October, Denis O’Callaghan, General Manager, AIB Retail & SME Business, announced that AIB has established 15 business centres around the country to further its active engagement in assisting customers through the current trading conditions.

      This announcement forms part of the bank’s current change programme which is centred on bringing expertise, timely support and decision making closer to its SME customers. These business centres are staffed by over 250 experienced relationship managers which are complemented by the bank’s 700 relationship managers and 200 dedicated SME specialists already in place across the bank’s 270 branch outlets.



      Denis O’Callaghan, General Manager, AIB Retail & SME Business said:



      “We are committed to a strong and sustainable SME sector, which we believe is key to the recovery of the Irish economy. We will continue to work with all our SME customers to ensure they have all the information, advice and support they need, through these dedicated business centres and our nationwide branch network.”


      http://www.aibgroup.com/servlet/ContentServer?pagename=Press…
      Avatar
      schrieb am 15.10.09 21:40:51
      Beitrag Nr. 33 ()
      Hier die Übersetzung:

      AIB lanciert 15 neue Business-Zentren, um zur Unterstützung von KMU-Kunden

      15th October 2009 15. Oktober 2009
      16:05 16:05

      Speaking to over 1,000 business leaders at the Dublin Chamber of Commerce annual dinner on Thursday 15th October, Denis O'Callaghan, General Manager, AIB Retail & SME Business, announced that AIB has established 15 business centres around the country to further its active engagement in assisting customers through the current trading conditions. Im Gespräch mit mehr als 1.000 Unternehmern auf dem Dublin Chamber of Commerce jährlichen Abendessen am Donnerstag, 15. Oktober, Denis O'Callaghan, General Manager, Retail & AIB Mittelstandsgeschäft hat angekündigt, dass AIB 15 Business-Zentren im ganzen Land eingerichtet hat, um ihr aktives Engagement weiter Unterstützung der Kunden durch die gegenwärtigen Marktbedingungen.

      This announcement forms part of the bank's current change programme which is centred on bringing expertise, timely support and decision making closer to its SME customers . Diese Ankündigung ist Teil der laufenden Veränderung der Bank, das sich auf Know-how bringen zentriert ist, rechtzeitig zu unterstützen und die Entscheidungsfindung näher an ihre KMU-Kunden. These business centres are staffed by o ver 250 experienced relationship managers which are complemented by the bank's 700 relationship managers and 200 dedicated SME specialists already in place across the bank's 270 branch outlets. Diese Business-Zentren werden von o ver 250 erfahrenen Relationship Manager, die von der Bank 700 Kundenberater und 200 engagierten KMU-Spezialisten bereits in über 270 statt der Bank Filialgeschäft ergänzt werden besetzt.

      Denis O'Callaghan, General Manager, AIB Retail & SME Business said: Denis O'Callaghan, General Manager, Retail & AIB Mittelstandsgeschäft sagte:

      “We are committed to a strong and sustainable SME sector, which we believe is key to the recovery of the Irish economy. "Wir sind eine starke und nachhaltige KMU-Sektor, die wir glauben, ist der Schlüssel für die Verwertung der irischen Wirtschaft verpflichtet. We will continue to work with all our SME customers to ensure they have all the information, advice and support they need, through these dedicated business centres and our nationwide branch network.” Wir werden auch weiterhin mit all unserer KMU-Kunden zusammenarbeiten, um sicherzustellen, dass sie über alle Informationen, Beratung und Unterstützung, die sie benötigen, durch diese spezielle Business Center und unser flächendeckendes Filialnetz. "
      Avatar
      schrieb am 15.10.09 21:42:59
      Beitrag Nr. 34 ()
      Avatar
      schrieb am 15.10.09 21:46:57
      Beitrag Nr. 35 ()
      Irish Stock Exchange

      http://www.ise.ie/
      Avatar
      schrieb am 16.10.09 10:18:51
      Beitrag Nr. 36 ()
      Friday, October 16, 2009
      Prudent or optimistic? Time will tell

      FEW PEOPLE like spreadsheets but one page in the Government’s draft business plan on the National Asset Management Agency (Nama) gives fresh insight into the projected sums flowing in and out of the toxic loans agency that will determine its success or failure.

      The spreadsheet will be pored over for some time to see if the Government’s figures stack up. Opposition politicians were quick to poke holes in it as soon as it was published on Wednesday evening. Officials constructing Nama have neatly forecast the expected interest income to be paid by the borrowers on the €77 billion bank loans from 2010 to 2020 and, on the other side, the interest to be paid on the debt to buy the loans. In several columns, the numbers are repeated for each year of the expected 10-year life of Nama.

      For example, the Government anticipates that it will start repaying the €54 billion in State debt it will raise to buy the bank loans in 2013 at €6.5 billion a year until 2019, with a final payment of €8.5 billion in 2020 when Nama finally completes its work.

      Borrowers who owe loans with a face value of €77 billion moving to Nama will pay interest of between €1.3 billion and €1.6 billion a year for the first five years of its life. This will then start to decline as borrowers start to repay the overall principal amounts owing.

      The Government expects borrowers to repay larger principal sums from 2013. This will start at a rate of €7.5 billion a year from 2013 to 2016, then €7 billion a year from 2017 to 2019, with the remaining €6.6 billion of €62 billion in good loans repaid in 2020.

      All told, the Government expects Nama to generate a cash profit of €5.5 billion – €4.8 billion in today’s terms adjusted for inflation – by 2020 when it will have cleaned up the property loans that are plaguing the banking sector.

      The figures are based on the assumption that property values will rise 10 per cent over 10 years.

      The plan sets out the calculations for Nama over 11 years to the end of 2020. The agency will be in operation for 10 years as 2011 will mark Nama’s first full year once all 1,500-2,000 borrowers heading into Nama have been transferred by June 2010.

      The calculations are so neat in the business plan that they attracted a withering put-down from the Opposition benches. “The tooth fairy, the Easter Bunny and the Loch Ness Monster are all more credible propositions than the financial projections for Nama,” said Fine Gael finance spokesman Richard Bruton.

      The Opposition parties have called for an independent audit of the Government’s figures and the assumptions underlying the plan.

      However, the clarity of the figures in the Nama business plan is helpful in showing how the agency will operate, though it must be pointed out that the Government has included an all-bets-are-off-type rider at the start of the plan, saying the integrity of the data in the document depends on an examination of each and every loan.

      In other words, based on a cursory (if a year of examining loan books at the domestic banks can be described as cursory) assessment of large development loans, the calculations in the plan are estimates and won’t be deemed accurate until due diligence begins and is completed on the loans.

      Five months after the Nama plan to fix the banks was unveiled, the hard work – the valuation of each loan to be acquired – will begin next month or in December.

      Until the findings of this work are disclosed, the Nama plan figures are to be taken as temporary. There are several key assumptions behind the calculations in the plan.

      Officials expect that – in simple terms – of the €77 billion loans owed to Nama €62 billion will be repaid and €15 billion will not.

      The Government expects that, of the €15 billion, Nama can recover €4 billion – €1 billion a year for the four years from 2014 to 2017 – by selling properties and other assets securing the loans.

      The estimated €15 billion in bad loans represents a default rate of 20 per cent, which the Government believes is based on “conservative and prudent assumptions”.

      This is assumed in light of the fact that UK bank Barclays suffered a default rate of less than 10 per cent in the 1990s and Barclays was the worst hit bank during the British property market crash.

      However, the current financial crisis – both internationally and for Ireland – is considerably worse.

      “To say the assumptions are prudent and conservative based on recent experience could prove optimistic based on what we’ve seen to date in this economic cycle, which includes the biggest financial crisis in over 70 years,” said Sebastian Orsi, bank analyst at Dublin stockbroking firm Merrion Capital.

      The plan says that a 31 per cent default rate, which would involve €24 billion of the €77 billion loans not being repaid, would wipe out the forecast profit of €5.5 billion.

      The €77 billion Nama loans are broken down across five lenders as follows: Anglo Irish Bank, €28.4 billion; Allied Irish Banks (AIB), €24.1 billion; Bank of Ireland, €15.5 billion; Irish Nationwide, €8.3 billion; and EBS building society, €800 million.

      Then there is interest coming in and going out – the Government expects the 40 per cent of interest-generating loans being acquired by Nama to yield €12 billion over its life until 2020, while the agency will pay €16 billion interest on the €54 billion debt to be raised by the Government to buy the loans.

      The figures seem to contradict earlier statements from the Government that Nama could “wash its face” – in other words, the interest generated from the loans will meet the interest on the debt. Not so, looking at the calculations in the plan.

      However, the Department of Finance clarified this, saying the €62 billion in loans that it expects will be repaid to Nama includes interest income as development loans comprise an element of interest roll-up.

      This, according to the department, is because development loans by their nature do not generate interest income until projects are completed and generate either sales or rental income.

      Nama expects substantial lump-sum loan repayments to start in earnest in 2013, reducing the good loans of €62 billion over eight years until the end of 2020.

      This suggests a recovery in the property market where borrowers can either sell properties and other assets to repay loans or seek refinancing from other lenders in a properly functioning banking sector so they can repay Nama.

      Most economic commentators expect a recovery to begin in 2011 and the Government will be keen that this also translates into a return to normality in the property market. By forecasting principal sum repayment to start in 2013, it is erring on the side of caution.

      The market responded cautiously as bank shares dipped following publication of the plan. AIB fell 3.5 per cent and Bank of Ireland dropped 3.2 per cent.

      Clearly, investors agree with Opposition politicians – the figures need to be verified with an intensive examination of each and every loan. That exercise will not be completed for another eight months.

      This article appears in the print edition of the Irish Times
      Avatar
      schrieb am 28.10.09 12:01:18
      Beitrag Nr. 37 ()
      :rolleyes:
      Avatar
      schrieb am 31.10.09 16:24:52
      Beitrag Nr. 38 ()
      Last Updated: Thursday, October 29, 2009, 12:42
      AIB warns on EU negotiations

      AIB chairman Dan O'Connor today said the bank could face "serious consequences" from negotiations with the European Union over the Government's capital injection into the lender.

      "We have seen what's happened this week in terms of" ING Groep NV, Mr O'Connor said at the Irish Bankers Federation conference in Dublin today, referring to EU demands on the Dutch financial-services company.

      "Draconian measures have been taken," he added.

      ING agreed earlier this week to EU demands that it sell its insurance units to secure approval for a state bailout.

      The commission is reviewing bailouts to ensure banks that get government money don't have an unfair advantage. AIB, which received €3.5 billion in State funds this year, expects three to six months of active negotiations with EU authorities once it submits its restructuring plan, according to Mr O'Connor.

      "We don't know what's going to happen to our organisation but certainly it's going to have serious consequences," he said. He declined to comment on the potential consequences, adding that markets were "surprised" by the ING decision.

      Allied Irish rose 3.8 per cent to €1.92 in Dublin today, after dropping more than 20 per cent over the previous two days. Bank of Ireland jumped 12 per cent today.

      Bank of Ireland filed a restructuring plan with the European Commission, the EU's executive arm in Brussels, in September, and there is speculation that AIB may submit its plan next month.

      Mr O'Connor told reporters at the conference this morning that AIB is in "good dialogue" with Minister for Finance Brian Lenihan on the appointment of a new chief executive officer.

      Bloomberg


      http://www.irishtimes.com/newspaper/breaking/2009/1029/break…
      Avatar
      schrieb am 02.11.09 17:12:15
      Beitrag Nr. 39 ()
      ast Updated: Monday, November 2, 2009, 14:24
      Bank, airline shares post drops

      AIB shares fell up to 14 per cent this morning amid continued concern over the slow progress through the Dáil of the Government's €54 billion "bad bank" scheme.

      AIB traded 23 cents lower at €1.64 at 10.34am, the biggest decline in the 63-member Bloomberg Europe Banks and Financial Services Index. At 2pm this afternoon, the bank's shares were down some 10 per cent at €1.677.

      Bank of Ireland, which is also transferring assets to Nama, fell 2.8 per cent earlier today and by 2pm was at 1.65, down 2.94 per cent.

      Elsewhere, Ryanair fell in Dublin trading this morning after the company said it would cut average ticket prices further to lure passengers. The carrier is forecasting that yields, a measure of ticket prices, will fall as much as 20 per cent in the winter season. The stock dropped as much as 9.2 per cent.

      Aer Lingus dropped as much as 8.8 per cent this morning. The stock fell as much as 5 cents to 52 cents and traded at that level as of 12.15pm.

      'It's the same old story of the dragging on of the Nama (debate) and the weakness of the Irish economy,' a Dublin-based trader said, referring to bank stocks.

      On October 29th, AIB chairman Dan O’Connor said the bank could face “serious consequences” from its negotiations with Europe. The bank has already received €3.5 billion from the Government.

      “The threat of more significant EC requirements” may make it more difficult for Bank of Ireland and Allied Irish “to raise equity until there is further clarity on the ultimate outcome of its decisions,” Anna Lalor, analyst at Goodbody Stockbrokers in Dublin, wrote in note today.

      The Government expects a law to establish the National Asset Management agency to be passed by the Dáil on November 12th, Department of Finance sources have said.

      The recent fall in Irish bank shares has been attributed to the Bill’s slow progress through the Oireachtas. Committee stage was completed last week after a marathon debate.

      The report stage of the Bill is to be taken in the Dáil next Wednesday and Thursday. It is due to to be debated in the Seanad on November 9th, 10th and 11th, where further amendments are likely to be tabled. The final stage in the Dáil is scheduled for the following day, November 12th.

      Once it has passed all stages, the Bill will be sent to Áras an Uachtaráin for the President’s signature. However, there is speculation she may decide to refer the legislation to the Supreme Court to test its constitutionality.

      Additional reporting Reuters

      http://www.irishtimes.com/newspaper/breaking/2009/1102/break…
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      schrieb am 02.11.09 18:31:40
      Beitrag Nr. 40 ()
      was hier die irischen Politiker veranstalten, wird von den britischen Nachbarn als "bungeling" bezeichnet.Ein attribut welches sie normalerweise für deutschen reserviert haben.:O:O:mad:
      Avatar
      schrieb am 02.11.09 19:23:10
      Beitrag Nr. 41 ()
      02.11.2009 11:17
      Allied Irish Bank shares fall, eyes on bad bank

      DUBLIN, Nov 2 (Reuters) - Shares in Allied Irish Banks fell more than 12 percent on Monday as a trader cited continued concern over the slow progress through parliament of a 54 billion euro ($79.60 billion) 'bad bank' scheme.

      'It's the same old story of the dragging on of the NAMA (debate) and the weakness of the Irish economy,' the Dublin-based trader said.

      The Irish government expects a law to establish the National Asset Management agency to be passed by parliament on Nov. 12, the minister in charge of coordinating voting said on Sunday after worries over its slow progress hit shares last week.

      Shares in Allied Irish traded 11.9 percent lower by 0956 GMT at 1.65 euros, while the wider Irish market fell 1.3 percent and Bank of Ireland, which is also transferring assets to NAMA, fell 2.8 percent.

      (Reporting by Andras Gergely; Editing by Erica Billingham) ($1=.6784 Euro) Keywords: ALLIEDIRISH/SHARES

      (andras.gergely@reuters.com; +35315001518; Reuters Messaging: andras.gergely.reuters.com@reuters.net)
      Avatar
      schrieb am 05.11.09 11:10:23
      Beitrag Nr. 42 ()
      Avatar
      schrieb am 06.11.09 01:04:18
      Beitrag Nr. 43 ()
      DUBLIN, Nov 5 (Reuters) - The lower house of Ireland's parliament voted on Thursday to pass a law establishing a 54-billion euro "bad bank" to the upper house.

      More amendments are expected to be introduced in the senate next week, which means it will have to return to the lower house for a final vote, which the government hopes to hold on Nov. 12, before it can go to the president to become law.

      If approved, the National Asset Management Agency (NAMA), the bad bank, will start transferring risky commercial property loans from banks including Allied Irish Banks (ALBK.I) and Bank of Ireland (BKIR.I), around the end of the year.

      Thursday's decision -- which was carried by 77 votes for and 73 against -- does not complete the parliamentary approval process but it sends an important signal to markets which have sold off Irish bank shares on worries about the slow progress of the legislation. (Reporting by Andras Gergely; Editing by Tim Dobbyn)
      Avatar
      schrieb am 06.11.09 08:10:19
      Beitrag Nr. 44 ()
      05.11.2009 19:39
      UPDATE 1-Allied Irish Banks issues 750 mln euro 5-year bond

      DUBLIN, Nov 5 (Reuters) - Allied Irish Banks issued a 750 million euro ($1.1 billion) five-year bond it said was the first unguaranteed issue of its kind with that maturity since a government guarantee for bank liabilities was introduced in September 2008.

      The bond, priced at a spread over mid-swaps of 285 basis points, attracted more than 150 international investors and was oversubscribed by 1.8 times, AIB said on Thursday.

      'The positive reaction of the international markets by investing in longer-term unsecured and unguaranteed bonds of AIB is a further indicator of the growing positive attitude of the international credit markets towards Irish banks,' said Colm Doherty, managing director of AIB Capital Markets.

      The bank raised 1 billion euros through a three-year bond in September.

      (Reporting by Antonella Ciancio; Editing by Andras Gergely and Dan Lalor)

      http://www.finanznachrichten.de/nachrichten-2009-11/15398118…
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      schrieb am 09.11.09 10:46:01
      Beitrag Nr. 45 ()
      AIB to name O'Connor as executive chairman

      -->http://www.irishtimes.com/newspaper/finance/2009/1109/122425…
      Avatar
      schrieb am 11.11.09 07:54:49
      Beitrag Nr. 46 ()
      Hier der Grund f. den Absturz:

      Allied Irish Banks downgraded to "underperform"


      11/10/09 - Keefe Bruyette & Woods

      NEW YORK, November 10 (newratings.com) - Analysts at Keefe Bruyette downgrade Allied Irish Banks (AIB) from "market perform" to "underperform."

      http://www.newratings.com/en/main/company_headline.m?id=1988…
      Avatar
      schrieb am 11.11.09 08:45:44
      Beitrag Nr. 47 ()
      The Irish Times - Wednesday, November 11, 2009
      AIB to sell its most valuable high street branch

      JACK FAGAN

      The bank’s branch on Grafton and Wicklow streets is expected to make between €28.37m and €30.7m – reflecting an initial yield of 6.5 to 6 per cent

      ALLIED IRISH Bank is to sell its most valuable high street property in Ireland.

      The Dublin city centre bank branch with dual frontage onto Grafton Street and Wicklow Street is expected to be bought either by a cash-rish Irish investor or a British or German property fund.

      Colm Luddy of CB Richard Ellis confirmed yesterday that his agency is “discreetly” marketing the sale and leaseback and said there were already a number of expressions of interest. “This is without doubt one of the best pieces of real estate on the street and, coupled with a long secure lease, is exactly where the investor interest is in the current market.”

      No guide price has been suggested to date but investment experts expect that the price could be between €28.37 million and €30.7 million – reflecting an initial yield of 6 to 6.5 per cent.

      The bank will obviously be hoping to get the best possible price in order to set an enhanced valuation benchmark on the street before it passes over €24.6 billion in toxic loans and €7.1 billion in associated loans to the State rescue bank Nama. AIB could not be seen to be holding on to one of the most valuable retail buildings in the city centre while seeking a State bail-out.

      Investors pitching for the AIB branch will be conscious of the 6.4 per cent yield set only weeks ago when the German banking group DekaBank bought the Tommy Hilfiger store on the opposite side of Grafton Street for around €25 million.

      The AIB investment will have a broader appeal because of the strength of the covenant and the potential for opening up a major new store of around 464sq m (5,000sq ft) on the ground floor, or two separate retail operations on Grafton Street and Wicklow Street in the unlikely event of AIB moving out.

      AIB is due to pay a rent of close to €2 million for the bank branch under a 20-year lease with a break option in year 15. The L-shaped banking hall near Weir Sons, the jewellers, is easily the busiest of its branch network in the city centre and has three and four storeys of overhead offices.

      AIB has sold off much of its branch network in recent years, arguing that it was unlocking shareholder equity for its core business. The disposal programme has become more important in recent months because of the liquidity problems facing all banks. Yields on bank branches have been rapidly creeping up since AIB started offloading branches at the peak of the property market in the autumn of 2006. The first 12 branches – including some of the best in the country – were bought in one lot by property developer Gerry Gannon for around €100 million and showed an initial return of only 2.8 per cent. The most recent tranche of branches sold by the bank gave investors yields of between 6.25 and 7.25 per cent. Early in 2006 AIB also sold its Ballsbridge headquarters, to property developer Sean Dunne, and Hibernian Life and Pensions for €377.7 million.


      http://www.irishtimes.com/newspaper/commercialproperty/2009/…
      Avatar
      schrieb am 12.11.09 01:51:42
      Beitrag Nr. 48 ()
      The Irish Times - Thursday, November 12, 2009
      Nama Bill passed as O'Toole criticises 'offensive' clause
      In this section »


      JIMMY WALSH

      SEANAD REPORT: THE BILL to establish the National Asset Management Agency was passed in the Senate last night by 28 votes to 23.

      A provision in the Bill which involved a commitment that the Minister for Finance would not break the law, was earlier described as “offensive” by Joe O’Toole (Ind).

      An undertaking was being given that the Minister would not approve a restructuring plan or a business plan that did not comply with Irish or EU law. The provision was unnecessary. In a modern democracy, it was taken for granted that a Minister was as amenable to the law of the land as the rest of the populace.

      Minister for Defence Willie O’Dea responded that the State was seeking EU approval for Nama and, in doing so, it was important to make what was already implicit in the legislation absolutely explicit “and state in clear and unambiguous language that we will not approve any restructuring plan that contravenes EU law”.

      Mr O’Toole said he understood the Minister’s point. “It is a belt and braces measure because the chaps in Brussels are watching too much television and they know that nobody in Ireland obeys the law. We must ensure the Minister does.”Alex White (Lab) said giving this commitment suggested that its purpose was to send a reassuring signal to the European Commission.

      The execution in the US of sniper John Allen Muhammad, who shot and killed 10 people in the Washington DC area in 2002, triggered some bitter exchanges in the chamber.

      Ivana Bacik (Lab) joined several colleagues in condemning the application of the death penalty. She went on to ask for a debate on the place of religion in education.

      Noting that the European Court of Human Rights had ruled against the presence of crucifixes in classrooms, she said they must have regard to the fundamental principles of the Council of Europe and the need for tolerance and respect for those of other religions and none.

      “Just because one religion is dominant in this country does not mean it should have a near monopoly on the provision of primary education.” She wanted a debate on the role of the integrated curriculum, whereby children were still receiving religious instruction during school hours in breach, she would contend, of their rights under Article 44 of the Constitution and under the European Convention on Human Rights.

      Jim Walsh (FF) said it was difficult to listen to “brass neck” pronouncements by people who were so condemnatory of capital punishment but saw absolutely no incongruity with their support for abortion or euthanasia.

      Describing Mr Walsh’s observation as absolutely outrageous, Ms Bacik said it was obvious that he was referring to her. “I ask Senator Walsh to withdraw any insinuation. If this was a courtroom and that was about libel, there would be a clear innuendo there.”

      David Norris (Ind): “That man is always doing this and the Cathaoirleach should put him in his box.”

      Cathaoirleach Pat Moylan said he could not deal with innuendo.

      Mr Walsh said all the churches, and especially the Catholic Church, had made a tremendous contribution to the education of generations of Irish people. He would say to Senator Bacik “if the hat fits, let her wear it”.

      Fidelma Healy Eames (FG) said: “This is character assassination.”

      Paddy Burke (FG) said that at a time when the Government was considering cutting child welfare payments, it was outrageous that financial consultants could obtain huge fees to analyse a banking institution that was defunct.

      Ernst Young was examining Irish Nationwide Building Society which would be either wound up, nationalised or taken under the wing of another financial institution. A senior accountant was being paid €3,000 per day and a junior accountant €800 daily. The nation could not afford such fees. The fees issue had arisen in the past in respect of tribunals, “but yet again we are overpaying fat cats”.
      Avatar
      schrieb am 12.11.09 01:57:42
      Beitrag Nr. 49 ()
      grrr, scheinbar habe ich aus versehen etwas zu viel hineinkopiert.

      hier der link: -->http://www.irishtimes.com/newspaper/ireland/2009/1112/122425…
      Avatar
      schrieb am 12.11.09 09:09:40
      Beitrag Nr. 50 ()
      irishtimes.com - Last Updated: Wednesday, November 11, 2009, 19:01
      Iseq gains as banks perform well
      CAROLINE MADDEN

      The Dublin market was back in positive territory today, boosted by a strong performance by financial stocks and positive responses to corporate newsflow.

      Packaging group Smurfit Kappa put in one of the best performances of the day, despite reporting a sharp slip in third quarter profits. Continuing its good run of form of recent days, the stock gained more than 4 per cent to close at €6.20.

      Dublin-based investment group TVC Holdings climbed almost 5 per cent to 64 cent on the back of a strong trading statement issued earlier today.

      Meanwhile minnow stock CPL Resources bounced more than 8 per cent, almost 18 cent, to just under €2.30 on the strength of a positive trading statement released by the recruitment firm at its agm on Monday.

      Bank of Ireland was one of the busiest stocks today. After hitting a daily high of €1.95, it settled back to finish at €1.90, a gain on the day of over 2 per cent. Allied Irish Bank moved ahead by more than 6 per cent, closing at just under €1.97.

      Strong first-half results released on Tuesday by Norkom led to heavy trading in the Dublin-based security software firm today. Over a million shares changed hands in this IEX-listed stock, but it finished the day flat at €1.20.

      The Iseq added about one-third of a per cent to 2,959.36, slightly underperforming its European peers. Across Europe, Britain's FTSE 100 index, Germany's DAX and France's CAC 40 rose 0.7 to 1 per cent.

      (Additional reporting - Reuters)
      Avatar
      schrieb am 12.11.09 11:20:39
      Beitrag Nr. 51 ()
      11.11.2009 13:54
      Allied Irish Banks sells branches to raise cash


      http://www.finanznachrichten.de/nachrichten-2009-11/15443946…
      Avatar
      schrieb am 12.11.09 17:05:10
      Beitrag Nr. 52 ()
      DUBLIN (Reuters) - Ireland's lower house of parliament on Thursday approved legislation allowing the government to set up a "bad bank" to pay 54 billion euros (48.6 billion pounds) to cleanse banks of risky commercial property loans.

      The law to establish the National Asset Management Agency (NAMA), which was approved by the upper house of parliament late on Wednesday, returned to the lower house for approval of changes made in the senate earlier this week.

      The lower house of parliament has sent one amendment back to the senate again for consideration later on Thursday but that is regarded as a technicality which will not hold up the legislation.

      Thursday's vote allows the bill to be sent to President Mary McAleese, who rarely objects to legislation and who is expected to decide between next Tuesday and Thursday whether to sign it or send it to the courts for constitutional review.

      It also needs approval from the European Commission, which has indicated it wanted NAMA to be set up swiftly. Dublin has already started recruiting lawyers and property valuers to have it up and running as soon as possible.
      Avatar
      schrieb am 12.11.09 19:50:00
      Beitrag Nr. 53 ()
      Nama Bill passed by Dáil

      The legislation covering the establishment of the National Assets Management Agency has passed all stages in the Dáil.

      The Nama Bill was passed this afternoon by 81 votes to 62.

      The Dáil sent one amendment on protection for whistleblowers within financial institutions back to the Seanad for consideration later today. This was agreed in conjunction with the Opposition and is regarded as a technicality which will not hold up the legislation.

      The Bill will now be sent to President Mary McAleese, who is expected to sign it into law next week.

      The Government hopes to get final approval from the European Commission later this month.

      Nama will buy property loans with book value of €77 billion from three banks and two building societies at an average discount of 30 per cent.

      Minister for Finance Brian Lenihan has estimated that the loans are currently worth about €47 billion. By overpaying by €7 billion, the Government hopes to avoid bankrupting the banks while adding cash into the system to help revive lending.
      Avatar
      schrieb am 12.11.09 22:34:22
      Beitrag Nr. 54 ()
      Ireland to start transferring NAMA loans within weeks

      DUBLIN, Nov 12 (Reuters) - Ireland expects to appoint a board to the National Asset Management Agency, a bad bank, by the end of this month, Finance Minister Brian Lenihan said on Thursday.

      Lenihan also said he aimed to start transferring the biggest loans from commercial banks within "a matter of weeks" after parliament approved the 54-billion euro plan earlier on Thursday.
      Avatar
      schrieb am 13.11.09 09:27:26
      Beitrag Nr. 55 ()
      By Joe Brennan

      Friday November 13 2009


      AIB close to naming Doherty as group's new managing director


      AIB and the Department of Finance are close to agreeing that Colm Doherty, the bank's choice for chief executive, will carry the new title of managing director of the group, it has emerged.

      A compromise proposal, which follows Finance Minister Brian Lenihan's strong resistance to the appointment of an insider as chief executive, would also see the new chairman Dan O'Connor take on the role of executive chairman.

      The minister had been pushing Mr O'Connor, who joined the board in 2007 and became chairman last July, to become chief executive in recent months. But the former head of GE Consumer Finance Europe had, up until now, been very reluctant to take on the ultimate responsibility for the day-to-day running of the bank.

      The bank's board is also believed to be close to appointing an outside banker as a senior executive director as part of a broad overhaul.

      Final negotiations are understood to centre on whether Mr O'Connor's position will be characterised as an interim measure as AIB continues an external search for a new chief executive -- or whether Mr Doherty's role will come up for review in the near term.

      "We are entering the final lap," said one source close to the protracted affair, which has been going on since current chief executive Eugene Sheehy signalled he was stepping down last April.

      Strategy

      The group parted company this year with chairman Dermot Gleeson and finance director John O'Donnell, while the former head of the loss-making division in the Republic, Donal Forde, was effectively sidelined to the role of director of group strategy.

      Mr Forde was replaced by Robbie Henneberry, former head of the UK division.

      The board has stood steadfast behind its decision that Mr Doherty is the best man to restructure the bank. The managing director role will leave him very much in charge of this.

      Supporters of the executive highlighted that his capital markets division had remained highly profitable throughout the crisis -- a testament to its prudent risk management -- even as AIB's Republic of Ireland division became a top lender to the property bubble.

      Only €400m of the €24bn of risky loans AIB is transferring to the National Asset Management Agency (NAMA) are contained in the capital markets division.

      Separately, AIB's Polish subsidiary yesterday reported a surprise 7pc increase in net profits to PLN263.7m (€63.7m), driven by lower-than-expected bad loan provisions. Analysts, on average, had expected profit to come in at PLN199m.

      Bank Zachodni WBK, in which AIB holds a 70.2pc stake, set aside PLN97.2m of provisions to cover bad loans. That was better than analysts' forecasts of PLN121m.

      "We are in a very good position right now," the bank's chief executive Mateusz Morawiecki said. "We want this year to be a very successful one."

      AIB is set to submit a restructuring plan to the European Commission today. It is largely expected that Brussels will force the group to sell off its 24pc-owned US associate M&T Bank, though the banks is expected to fight to keep its Polish unit.

      - Joe Brennan

      Irish Independent
      Avatar
      schrieb am 17.11.09 08:17:37
      Beitrag Nr. 56 ()
      The Irish Times - Tuesday, November 17, 2009
      Is the office party over?



      GONE, IT SEEMS, are the days when Christmas staff parties took place in champagne-flowing marquees, at top-end restaurants, or during subsidised weekends in European cities. The way things are going, many Irish staff will be lucky to get a cracker and a handshake this year, as the credit crunch threatens to steal the Christmas staff party, writes BRIAN O’CONNELL

      Allied Irish Banks (AIB) became one of the first financial institutions out of the traps when it announced that plans for this year’s Christmas staff parties have been shelved. A spokesperson for AIB told The Irish Times : “We are not subsidising or facilitating any staff parties this year due to the prevailing economic conditions.” In previous years, the bank would have made a contribution of €75 per employee towards the annual get-together.

      Given that staff may have worked harder this year than in previous times, and the need for morale to be boosted, is it right that frontline staff should be left without Christmas cheer? “I think the staff are fairly level-headed and sanguine about it,” says an AIB spokesperson. “I can’t speak on behalf of all staff, but certainly those I have spoken to are not put out that the staff party has been cancelled. There is no doubt that staff have worked very hard during the past year, and it is a very difficult time for everyone in the country. There is no sense of entitlement to a staff party. Our focus now is to keep our heads down and get through the current difficulties and wait and see what happens in the future with regards the Christmas party.”

      One AIB worker says staff are feeling angry about the head office decision. “We can see where the company is coming from, as it is a cost-based decision, and to a lesser extent it is influenced by public sentiment at the present towards banks. Last year one of the branches had a black-tie event and it was made out that it was this big corporate affair in the local media. So they are worried about that. The staff, I can tell you, are disappointed we are not having a Christmas party. We have worked hard and put up with a lot over the last year.”

      The worker says staff have been encouraged not to organise informal staff get-togethers. “We’ve been warned not to have Christmas parties. They are really worried about the public image. We have taken a lot of crap at the counters this year and, well, the mistakes made were made high up and we are the ones who have to take the flak. We’re resigned to the fact though there is nothing we can do about it.”

      AIB is not alone in cancelling Christmas staff cheer. RTÉ will also be cutting back on the annual staff party, and said in a statement: “There are no formal plans here at present. Any arrangements made last year were modest, and that will very definitely be the case this year. Mostly, our many programme teams make their own arrangements and their division may allow a small contribution toward cost. There isn’t any central budget for parties.”

      On behalf of Anglo Irish Bank, a statement by Drury Communications said that “the management of the bank is continuing to work very hard on a number of business priorities, and no decision has been made on a Christmas party at this stage. Our mandate, as a nationalised bank, is to keep the public interest to the fore, and decisions around such matters will reflect this objective.”

      A HSE spokesperson said: “The HSE head office does not arrange Christmas parties for staff and will not be doing so this year.”

      MAY MANNING , director of Occasions, a company that specialises in providing corporate entertainment, says her company has had to rethink the Christmas package on offer to companies this year in an effort to maintain business. Whereas last year one of their packages cost €85 per person, this year the price has been reduced to €69. “Companies such as banks that might have been supplied with entertainment by us in previous years are not having parties this year,” she says. “What we are seeing in many other companies is individual departments may be organising events, rather than a big company do. These are not necessarily being endorsed by head office, and many employees are covering it themselves.”

      Kate Howey of the Trident Hotel in Kinsale, Co Cork, says bookings have yet to take off, and there is a noticeable drop off in trade compared to 2008. “At the Trident Hotel we only have one Traditional Party night scheduled, and it’s very competitively priced at €30. There are hardly any bookings yet. In previous years you would have seen a couple of dates all but booked out by the beginning of November. The phone just isn’t ringing yet for Christmas parties. We’re presuming the trend will be to book late and at the best rate possible.”

      But, what of the effects on staff morale by employers not showing their appreciation at Christmas? With staff bonuses and Christmas hampers in low supply this year, surely there should be some appreciation shown by employers towards their staff? Patricia Callan, director of the Small Firms Association, says most of her members will try to do something, even if it is a far more modest affair than in recent years. “There is a sense, with so many redundancies and job losses, that for those left behind, companies need to rebuild morale. Black-tie events will be scarce, as will going away for a night, and whereas before staff may have gone for a three-course meal, it might just be finger food this year.”

      Pamela Fay, a business consultant, believes that employers should be careful not to kick workers when they are down, and that a small token of appreciation at Christmas goes a long way to maintaining staff unity and cohesion. “I e-mailed 10 clients, and the feeling out there is that those having parties will be asking employees to make contributions themselves. There is a sense that a need exists to celebrate the end of 2009 in some way. A big thing I am hearing back is that a staff party is a good way to say thanks to staff, and it is seen as an effective motivator.”

      Fay believes companies have to strike the right balance between celebrating the time of year and being conscious that, for many, Christmas 2009 will be a very difficult one. “It’s a tricky one for employers. On the one hand, workers left in the companies have probably worked harder and longer than in any other year. Yet not many people are in the mood for celebrating. The balance is trying to make sure people feel appreciated, while at the same time not overdoing it.”

      Festive four: to party or not to party?

      STEPHEN McNAMARA


      http://www.irishtimes.com/newspaper/features/2009/1117/12242…
      Avatar
      schrieb am 18.11.09 07:45:15
      Beitrag Nr. 57 ()
      The Irish Times - Wednesday, November 18, 2009
      How Government decided to keep Joo Jilligence off board of AIB
      In this section »



      DAIL SKETCH: THE GOVERNMENT decided not to put Joo Jilligence on the board of AIB, writes MIRIAM LORD

      For starters, the bank didn't want her. (Never liked the interfering aul' Biddy.) And what the AIB wants, the AIB tends to get. Then there was the drink.

      It may have been a while since she's gone on a major bender, but Brian Lenihan obviously thought it wiser to place Dick Spring on the board in her stead. Certainly, the Taoiseach and Minister for Finance don't talk as much as they used to about her being carried out.

      Now that Nama has arrived, maybe Ms Jilligence has gone into rehab? She came to mind yesterday as Opposition leaders took the opportunity to embarrass the Government over the saga of the search for a saviour for Allied Irish. Despite all the promises made by the two Brians, it looks like the appointment will be an inside job.

      "The latest debacle in banking circles" said Indakinny, particularly concerned the AIB wants to pay the executive in question more than the €500,000 pay limit set by the Government.

      Biffo mentioned the "Covered Institutions Remuneration Oversight Committee" and, according to the script he was reading carefully, indicated that the limit would have to apply to the new man.

      It's not like half a million a year plus perks is a small consideration. Surely there must be "somebody among the Irish diaspora who would do the job for half a million?" marvelled the Fine Gael leader. For that money, Enda, we reckon you wouldn't even have to go abroad. It's only an 18-month stint. David McWilliams would love it, especially after he was knocked back on the jobs front by Brian Lenihan. Allegedly.

      Eamon Gilmore was appalled by the AIB's early attempt to see how easily it can ignore its new Government boss. If their insider was to get the €633,000 salary they want to pay him, it would be 20 times the amount earned by a council road worker, said the Labour leader. Mind you, with his handsome Dáil salary and allowances, Appalled of Kingstown is probably worth a fair few road workers too.

      It's heavy going around Leinster House these days, what with people so worried about spreading the burden of their adjustments. Perhaps we should all think about eating more salads.

      "The bulk of the adjustment will have to consider all spending lines," said Minister Lenihan, opening the Pre-Budget Outlook debate, billed as an attempt by the Government to smoke out the Opposition's solutions to our financial situation.

      His speech was dull and gave nothing away, bar a hint that many more lower-paid workers will be brought into the tax net. It was described by FG finance spokesman Richard Bruton as "the usual dialogue of the deaf". Deputy Bruton was quite passionate in his contribution, which he delivered with the aid of closely handwritten foolscap pages. He even offered some proposals on how money could be saved, but not too many.

      The budget was all about "taking an opportunity" to do the right thing by the nation's finances, he said more than once.

      Now, when December 9th rolls around, Richard will be able to utter the line beloved of all Opposition finance spokespeople since time began: "This budget is a missed opportunity . . ." Labour's Joan Burton managed to get Giovanni Trapattoni into her contribution, by way of Bertie Ahern's "buke". But it was difficult to hear what she was saying, because Enda Kenny, Richard Bruton and Kieran O'Donnell prattled away loudly to each other for most of her speech.

      It really was the worst of bad manners. Ruairí Quinn, clearly affronted by their disregard for parliamentary etiquette, glared at them. But to no avail.

      Green Party leader John Gormley, evoking The Ascent of Man, spoke of the long-term challenge "we face as a species" although he also believed "we've begun to master our difficulties". Which brings us to his colleague Paul GoGo Gogarty - an original of the species who turned up to listen to his leader.

      He appeared to be sporting a version of the Jedward quiff. Gogo hails from Lucan, hometown of The Grimes Twins of X Factor fame. There is nothing those boys wouldn't do to be famous. And there's nothing Gogo wouldn't do to get re-elected.

      Was his hairdo an homage to the twins? It rose up from his forehead in a tuft of gell and what looked suspiciously like hairspray.

      We need to be told.
      Avatar
      schrieb am 20.11.09 08:04:26
      Beitrag Nr. 58 ()
      Grim news from Allied Irish at the interim update

      Erin Davis, 19/11/09 09:28

      MORNINGSTAR VIEW: Full-year loan loss guidance upped by 25%, coupled with some confusing rationale for management changes


      Allied Irish Banks said in its interim update Wednesday that it now anticipates full-year loan-loss provisions will be about EUR 5.3 billion, up from the EUR 4.3 billion it had forecast in May, because the quality of its loan book has continued to deteriorate. It said, however, that the majority of the loans responsible for the increase were loans that are likely to be transferred to the National Asset Management Agency. AIB also recanted its earlier guidance that the loans it plans to transfer to NAMA are likely to require less than the 30% systemwide average discount. AIB's core Tier 1 ratio was stable at 8.5% at the end of September, and we think the bank is almost certain to need more capital to make it through the downturn. We continue to see AIB's outlook as highly uncertain, and we're leaving the bank unrated for the time being.

      AIB also announced management changes. Dan O'Connor, who became nonexecutive chairman in July, will become executive chairman as he takes on the roles of both chairman and CEO. Current CEO Eugene Sheehy will retire at the end of the month. The day-to-day task of running the bank will be taken on by Colm Doherty in the role of group managing director. AIB said that the appointments were part of its plan to attract new external talent, which leaves us scratching our heads. O'Connor has been a board member since 2007 and Doherty has worked for AIB since 1988. AIB has several key positions yet to be filled, and we'd strongly prefer that its next external candidates actually come from outside the troubled bank.

      Erin Davis is a Morningstar stock analyst.


      http://www.hemscott.com/news/comment-archive/item.do?id=8056…
      Avatar
      schrieb am 20.11.09 09:41:51
      Beitrag Nr. 59 ()
      The Irish Times - Friday, November 20, 2009
      Anglo hires KPMG to cost options including wind-up

      SIMON CARSWELL Finance Correspondent

      STATE-OWNED Anglo Irish Bank has hired consultants from the international headquarters of accountancy firm KPMG in Holland to cost various options facing the bank, including the winding down of the lender over time.

      Anglo’s chief executive, Australian banker Mike Aynsley, has recruited the firm to assess and cost the immediate wind-up of the bank, the winding down of the business over time and the viability of Anglo as a going concern.

      The consultants are also costing and assessing variations on these options. Their conclusions will inform the restructuring plan that Anglo must submit to the EU Commission by the end of this month to win approval for the Government’s €4 billion recapitalisation.

      Mr Aynsley has told Anglo employees the bank has a viable future, and has made references to “setting the platform in place for the New Anglo Bank” in an internal e-mail circulated to staff.

      Frank Daly, the former Revenue Commissioners chairman and a Government-appointed director on the Anglo board, told a conference last week the bank was “actively considering” whether the bank has a future in lending to the small and medium-sized business sector.

      KPMG is working closely with outside consultant Tom Hunersen, who was hired by the bank in recent months. Mr Hunersen, an adviser on strategy, worked with Mr Aynsley at National Australia Bank and has also worked with Bank of Ireland in the US.

      Irishman Anthony Whelan, head of cabinet to EU competition commissioner Neelie Kroes, said last week “a very radical solution” may be necessary for Anglo, and that the Government should “consider all the options available”.

      A number of senior management changes are expected over coming weeks as the bank fills several pivotal executive roles.

      The Government invested €4 billion into the bank after losses of €4.1 billion in the six months to March 2009 wiped out the bank’s capital reserves. Anglo is expected to require another large capital injection to cover mounting losses on the bank’s €72 billion loan book and to restore the lender’s capital reserves to international norms.

      Minister for Finance Brian Lenihan said last week that any further capital injection into the bank would not exceed the €4 billion already invested by the State.

      The bank will sell loans of €28.4 billion to the National Asset Management Agency (Nama), which will crystallise losses at the bank as the State will buy the loans at an as-yet-undisclosed discount.

      Allied Irish Banks (AIB) said on Wednesday it was increasing its bad debt charge for this year by €1 billion to €5.3 billion, primarily due to expected higher losses on Nama-bound loans of €24.1 billion.

      Anglo will move 110 staff into a separate division to supervise loans moving to Nama.

      Irish Nationwide has hired a team of accountants from Ernst Young to assist the building society on the valuation of €8 billion loans moving to Nama and to establish a unit within the lender to work with the State agency.


      http://www.irishtimes.com/newspaper/finance/2009/1120/122425…
      Avatar
      schrieb am 23.11.09 07:54:49
      Beitrag Nr. 60 ()
      irishtimes.com - Last Updated: Friday, November 20, 2009, 14:31
      Two AIB managers investigated
      COLM KEENA Public Affairs Correspondent

      AIB is conducting an investigation into the involvement of two senior managers in property businesses.

      Tommy Hopkins, a general manager with AIB commercial banking in AIB Bankcentre, Ballsbridge, Dublin, and John Hughes, head of business banking, AIB Eyre Square, Galway, are involved in a number of property and other companies.

      Filings in the Companies Registration Office show the companies deal with a wide range of banks, though not AIB.

      The two men are in business with people who have separate relationships with the AIB Bankcentre branch and AIB Eyre Square.

      Mr Hopkins is a 50 per cent shareholder in Marchbury Properties Ltd, which built 222 houses in Balbriggan, Co Dublin, in the year to April 2007 and has other developments in train.

      The company lost €7.24 million in the year to the end of April 2008. It had bank loans of €23 million.

      The other shareholder, Thomas Durcan, is the owner, along with Mary Durcan, of Kingbrook Builders Ltd, which banks with the AIB Bankcentre branch in Ballsbridge.

      Mr Hughes is a shareholder and director of Banagher Investments Ltd which, like Marchbury, has its registered office at Mr Hopkins’s home on Palmerston Park, Rathmines, Dublin. Mr Durcan, Mr Hopkins and Mr Hughes are the company’s shareholders.

      It has a mortgage registered with Anglo Irish Bank in relation to a former Methodist church and other property on Hendrick Street, Blackhall Place and Oxmanstown Lane, in Stoneybatter, Dublin.

      However, the company’s accounts do not show any substantial borrowings, profits or losses.

      Mr Hughes is a director and shareholder of a number of west of Ireland companies that have relationships with banks other than AIB.

      His business activities include arrangements with partners who separately have dealings with AIB Eyre Square.

      Mr Hughes told The Irish Times that everything he was involved with was in compliance with AIB’s code of ethics governing such matters. He said there was no conflict of interest involved.

      He would not comment on the size of the borrowings involved in his various activities.

      Calls to Mr Hopkins’s office were not returned.

      A spokesman for AIB said that he had no comment to make on the matter.


      http://www.irishtimes.com/newspaper/breaking/2009/1120/break…
      Avatar
      schrieb am 24.11.09 08:44:03
      Beitrag Nr. 61 ()
      Allied Irish Banks (ALBK) Monday 23 November, 2009
      4:44P - Holdings in Company

      RNS Number : 9502C
      Allied Irish Banks PLC
      23 November 2009


      



      Standard Form TR-1
      Voting rights attached to shares- Article 12(1) of directive 2004/109/EC
      Financial instruments - Article 11(3) of the Commission Directive 2007/14/EC

      This notification is for filing purposes only in accordance with Regulation 22 of the Transparency (Directive 2004/109/EC) Regulations 2007.


      1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached : Allied Irish Banks Plc

      2. Reason for the notification (please tick the appropriate box or boxes):

      X an acquisition or disposal of voting rights

      [ ] an acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

      [ ] an event changing the breakdown of voting rights

      3. Full name of person(s) subject to the notification obligation: FIL Limited

      4. Full name of shareholder(s) (if different from 3.):

      5. Date of the transaction and date on which the threshold is crossed or reached: 16 November 2009

      6. Date on which issuer notified: 18 November 2009

      7. Threshold(s) that is/are crossed or reached: 3%

      8. Notified details:


      A) Voting rights attached to shares

      Class/type of shares (if possible using the ISIN CODE)


      Situation previous to the Triggering transaction


      Resulting situation after the triggering transaction

      Number of Shares


      Number of Voting rights


      Number of shares


      Number of voting rights


      % of voting rights

      Indirect


      Direct


      Indirect


      Direct


      Indirect

      IE0000197834


      23,772,595


      23,772,595


      26,772,595





      26,772,595





      3.03%























      SUBTOTAL A (based on aggregate voting rights)


      23,772,595


      23,772,595


      26,772,595


      26,772,595


      3.03%



      B) Financial Instruments

      Resulting situation after the triggering transaction

      Type of financial instrument


      Expiration Date


      Exercise/Conversion Period/ Date


      Number of voting rights that may be acquired if the instrument is exercised/converted


      % of voting rights






























      SUBTOTAL B (in relation to all expiration dates)







      Total (A+B)


      number of voting rights


      % of voting rights




      26,772,595


      3.03%


      9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: See attached schedule

      10. In case of proxy voting: Number of voting rights FIL Limited will acquire is 3,000,000

      11. Additional information:

      None




      FIL

      Issuer name:


      ALLIED IRISH BANKS PLC (UNGTD)

      Current ownership percentage:


      3.03%

      Total shares held:


      26,772,595

      Issued share capital:


      882,755,456




      SHARES HELD


      NOMINEE


      MANAGEMEN T COMPANY

      FIL Limited (FIL) is the parent holding company for various direct and indirect subsidiaries, including FIL Fund Management Limited (FFML), FIL Investment Services Ltd (FISL), FIL Gestion (FIGEST), FIL Investments Advisory (Korea) Limited (FIAKL), FIL Investments Management (Hong Kong) Limited (FIMHK), FIL Pension Management (FPM), FIL Investments Japan (FIJ) and FIL Investments International (FII), investment managers for various non-US investment companies and institutional clients.







      http://www.investegate.co.uk/Article.aspx?id=200911231644309…
      Avatar
      schrieb am 02.12.09 07:38:59
      Beitrag Nr. 62 ()
      The Irish Times - Wednesday, December 2, 2009
      AIB told to stop paying interest on some debts


      SIMON CARSWELL Finance Correspondent

      ALLIED IRISH Banks (AIB) has said the European Commission has told the bank to stop making interest payments on some of its debts, including the Government’s €3.5 billion preference share investment in the bank.

      The commission indicated that, in line with its policy and pending an assessment of AIB’s restructuring plan, the bank should not pay coupons on tier one and tier two capital instruments unless legally bound to do so.

      AIB is the latest financial institution in receipt of State aid to agree to EU conditions stopping interest payments to investors holding some of the bank’s securities.

      The effect of the decision is to trigger a “dividend stopper” on the securities for a period of a year.

      The bank said it had agreed to the request but that the bank and the Department of Finance were in “continuing discussions” with the commission to resume “declaration and payment of dividends and distributions as normal”.

      The effect of the coupon restrictions would mean that the Government would not be paid the €280 million – an 8 per cent coupon – due next May under the €3.5 billion State recapitalisation of AIB.

      This in turn would give the Government a larger stake in the bank, as AIB must pay the coupon in the form of ordinary shares if it cannot meet the payment in cash.

      This could lead to the State taking a stake of 42 per cent, including the Government’s 25 per cent holding in warrants, based on Monday’s closing share price, Goodbody Stockbrokers said in a note to clients.

      AIB’s share price closed down 2 per cent, or three cent, to €1.52.

      The bank said the talks with Brussels could allow it to make a retrospective cash payment of a bond coupon due on December 14th as well as the cash dividend on the State’s preference shares due on May 13th.

      The commission said it would back AIB’s attempts to raise capital privately in return for reducing State aid, and that it could adjust the coupon restrictions if it helped it to raise private capital.

      “In the commission’s approach to restructuring aid for banks, it is possible for the period of coupon restrictions to be adjusted if this would favour private capital raising that would in turn reduce the amount of State aid,” it said.

      “The commission will support efforts of AIB to raise private capital, including measures aimed at providing adequate remuneration to the Government’s preference shares without necessarily diluting existing shareholders.”

      The European Commission is reviewing AIB’s restructuring plan, which was submitted on November 13th.

      The plan must show how it intends to minimise and repay State aid and “an analysis of the compensatory measures taken or to be taken to minimise any distortions of competition caused”, AIB said in a shareholder circular.

      AIB said the preference of the Minister for Finance and the bank was to pay the dividends owing on the bank’s preference shares.


      http://www.irishtimes.com/newspaper/finance/2009/1202/122425…
      Avatar
      schrieb am 02.12.09 07:41:50
      Beitrag Nr. 63 ()
      Allied Irish Bank: Another Dead Bank Walking?
      by: Michael Terry December 01, 2009


      Remember the term "zombie bank" that was being thrown around earlier this year and late last year, describing those banks that were essentialy dead banks that were allowed to continue operating.

      After the extreme rally in financial shares over the last six months (XLF as a proxy has outperformed SPY by a little over 100bps in the last six months), the term seems to have faded into the ether. Well, look no further than Allied Irish Banks (AIB) to fill the void. While the problems with Ireland's second largest lender have been well known (hence the 1.52 euro price), there have been two new develoments which confirm the diagnosis.

      From MarketWatch:

      Bank of Ireland and Allied Irish Banks plan to begin transferring around 40 billion euros of risky loans to the government early next year after the banks reaffirmed their intent to take part in the bailout program.

      While the deal with the National Asset Management Agency will lead to losses and a reduction in capital ratios, Bank of Ireland and AIB both said the situation would be significantly worse if they don't agree to the move.

      Bank of Ireland said funding sources could dry up and there would be a risk of credit rating downgrades.

      Ultimately, non-participation in the deal could result in the need for further government aid and might result in full nationalization, both banks warned.

      The final price the new agency will pay for the land and development loans will be decided on a case-by-case basis, but the government has said it will pay an average of 30% below face value.

      AIB is expected to transfer 24.2 billion euros of gross loans to the government. If the discount on the face value were 30%, the group said its core tier 1 capital ratio would fall to 6.3% from 8.5%.

      First, note the discount to face value -- imagine if the US pursued this type of pricing. Perhaps our omniscient leaders should pay attention. Second, note the fall in the core tier 1 capital ratio, this has a bearing on the second story.

      From Bloomberg:

      Allied Irish Banks Plc, Ireland’s second-biggest lender, said the European Commission has told it not make coupon payments on some securities.

      “The EC has indicated that, in line with its policy and pending its assessment of the AIB restructuring plan, AIB should not make coupon payments on its Tier 1 and Tier 2 capital instruments unless under a binding legal obligation to do so,” Dublin-based Allied Irish said in statement today.

      The bank submitted a restructuring plan to the European Commission last month after it received 3.5 billion euros ($5.26 billion) in state aid to shore up its capital against losses on property loans. The bank said it has agreed to the Commission’s request not to make payments, including a dividend on preference shares it issued to the government.

      Under the terms of Ireland’s investment in the bank, if Allied Irish can’t pay the dividend in cash, it must make the payment in shares. The preference shares issued to the government pay a dividend of 8 percent, equivalent to 280 million euros. The government also has warrants allowing it to buy a further 25 percent stake in the bank.

      “At yesterday’s closing price, the 280 million-euro coupon would give the government a 17 percent holding of the total number of new shares in issue, which alongside its warrants would bring its holding to 42 percent,” Anna Lalor, an analyst at Goodbody Stockbrokers in Dublin, wrote in research note.

      The lender and Ireland’s finance ministry are in talks with the commission on the possibility of allowing it “to resume declaration and payment of dividends and distributions as normal,” it said.

      OK, I am a firm believer in payment on bonds. I think deferring tier 1 securities might make some sense, but the tier 2 I am not so sure. Yes, I understand that these instruments were designed to defer should the bank have capital issues (which it undoubtedly does), but if they ever want to raise capital again (which is doubtful at best) deferring removes this option.
      One thing I am certain of, though, is that there should be no dividends paid on common for the foreseeable future. The first story tells us their capital will fall and then we find out they want to pay distributions (usually associated with common)? Seriously? Wouldn't the bank be better off retaining this cash and capital?
      At some point, investors will begin to realize that AIB is not alone in this and that bank problems are still present and chickens come home to roost.
      Disclosure: No position in AIB stock or bonds, long XLF

      http://seekingalpha.com/article/175999-allied-irish-bank-ano…
      Avatar
      schrieb am 11.12.09 08:29:19
      Beitrag Nr. 64 ()
      The Irish Times - Friday, December 11, 2009
      AIB paid bonuses to overseas staff
      In this section »


      SIMON CARSWELL Finance Correspondent

      ALLIED IRISH Banks (AIB) has paid bonuses due for 2008 to overseas staff in the bank’s capital markets division.

      The bank is understood to have decided to make the payments fearing further lawsuits from staff seeking to force the lender to pay bonuses frozen since February.

      An AIB spokesman confirmed the bank had recently paid 2008 bonuses to overseas staff in the capital markets division.

      “We had a contractual commitment to pay bonuses to staff whose performance in 2008 had triggered an entitlement,” he said.

      AIB paid the bonuses to staff in the UK, the US and Poland and in the division’s offices in Frankfurt, Paris, Budapest, Zurich, Toronto, Sydney and Luxembourg.

      The bank feared that it might lose overseas staff to competitors if the bonuses were not paid.

      AIB has said that no staff in the Republic of Ireland have been paid bonuses for 2008.

      The bulk of the employees in the bank’s capital markets division, which had 2,562 staff at the end of last year, are based in the Republic.

      Bonuses to overseas staff were deferred following the introduction of the Government bank guarantee in September 2008.

      AIB was forced to pay bonuses to two capital markets staff in New York after they took legal action.

      Ronald Rapp and Douglas Marron both sued AIB seeking $315,000 (€213,000) and $185,000 respectively after the bank clawed back their bonuses just days after they were paid out in February.

      AIB agreed that no bonuses would be paid to senior executives for 2008 and 2009 under the guarantee and the Government’s €3.5 billion recapitalisation of the bank.

      AIB expects capital markets to make higher profits in 2009 than last year, and for the division to be the largest contributor to group profits this year.

      The former head of capital markets, Colm Doherty, was appointed group managing director at AIB last month
      Avatar
      schrieb am 11.12.09 08:40:57
      Beitrag Nr. 65 ()
      The Irish Times - Friday, December 11, 2009
      Budget will bring down cost of State borrowing, says Cowen
      Related »


      STEPHEN COLLINS, MARK HENNESSY and ARTHUR BEESLEY

      THE COST of Ireland’s borrowing will go down as international financial markets absorb the implications of the Budget, Taoiseach Brian Cowen said last night in Brussels.

      Arriving for the European Union summit, he responded to the fact that international investors have sold Irish Government bonds in recent days, as a result of concerns about Greece’s public finances.

      Mr Cowen expressed confidence that the rates applying to Ireland would fall once the markets “acquaint themselves” with the scale of the Government’s actions.

      He said that the reaction of the international markets to ongoing developments was an indication of the need to instil confidence in the direction the country is going.

      “I think it has been well received internationally,” said the Taoiseach. “It can’t determine totally our policy, but it is an important consideration for the country getting access to funds as we make this adjustment over the next few years.”

      He said one of the purposes of the Budget was a determination to show that the Irish people could manage their own affairs and do whatever was necessary to stabilise the deficit.

      “Having stabilised it and having sought to protect to the greatest extent we can the more vulnerable people in society, we now proceed to work for recovery. I think it has been well received in that respect, and well received at home, too,” said Mr Cowen.

      The Budget measures received support from an important quarter last night when EU economic and monetary affairs commission Joaquín Almunia said the Irish people and authorities should be commended for the “considerable” steps they were taking to tackle the fiscal crisis.

      “In sticking to the consolidation target for 2010 that was announced in the April supplementary budget, the Irish Government is clearly demonstrating its continued commitment to implementing a sustainable and credible fiscal consolidation strategy in these challenging times,” Mr Almunia said.

      “While more remains to be done in the coming years, the Budget is an important step towards first stabilising and then gradually reducing the Irish general government deficit to 3 per cent of GDP by the 2014 deadline set by the commission and endorsed by the [European] council under the excessive deficit procedure.”

      Mr Almunia will oversee the restructuring of Allied Irish Banks and Bank of Ireland when he becomes EU competition commissioner next year.

      Recently, he extended the deadline for the Government to bring the budget deficit within EU limits by one year to 2014.

      Speaking in the Dáil before he left for Brussels, Mr Cowen said reductions in pay and welfare had to be seen in the context of falling prices with the consumer price index down 6.6 per cent in the 12 months to October and a further slight fall expected in 2010.

      “The reduction in social welfare payment rates is less than the fall in prices. The value of the payments in people’s pockets will, if anything, be higher than it was previously,” he said.

      Debate on the Social Welfare Bill, which gives effect to the new rates, began in the Dáil yesterday with a furious row over procedure. The Labour Party attempted to prolong the debate on the measure which is due to conclude all stages by this evening. Objections to taking the Bill were eventually overruled by Ceann Comhairle Seamus Kirk but Labour whip Emmet Stagg warned that the party would continue to use all possible “parliamentary tactics” to oppose the legislation.

      “This is an honourable part of our parliamentary tradition going back to the days of Parnell,” said Mr Stagg, adding: “This is one of the most nasty and vindictive pieces of legislation ever to have come before the House which will cut the incomes of some of the poorest and most vulnerable sectors of Irish society.”


      http://www.irishtimes.com/newspaper/frontpage/2009/1211/1224…
      Avatar
      schrieb am 11.12.09 09:07:15
      Beitrag Nr. 66 ()
      02.12.2009 12:35
      Goldman Sachs senkt Ziel für Allied Irish Bank auf 1,80 Euro - 'Neutral'

      http://www.finanznachrichten.de/nachrichten-2009-12/15609416…


      02.12.2009 16:02
      Nomura senkt Allied Irish Banks auf 'Neutral' - Ziel 2,40 Euro

      http://www.finanznachrichten.de/nachrichten-2009-12/15611875…
      Avatar
      schrieb am 15.12.09 11:38:51
      Beitrag Nr. 67 ()
      ich denk mal 1,24€ sollte man micht verpassen ,und sich ein Grundstein setzten da Gewinne sicherlich langfristig möglich sind.
      Avatar
      schrieb am 23.12.09 21:03:31
      Beitrag Nr. 68 ()
      irishtimes.com - Last Updated: Sunday, December 20, 2009, 18:47
      Honohan expects banks inquiry

      The Governor of the Central Bank, Dr Patrick Honohan, believes there will be an inquiry into the causes of the crisis that has convulsed Irish banks.

      Dr Honohan made his comments to RTÉ’s The Week In Politics in an interview to be shown in full later this evening.

      He also said Irish banks that receive State capital will be strong enough to sell their possible majority Government stakes to foreign investors in a year or two

      The State already has indirect 25 per cent stakes in Allied Irish Banks and Bank of Ireland and is launching the €54 billion National Asset Management Agency to remove a portion of performing and underperforming loans from the banks’ balance sheets.

      Dr Honohan reiterated that some capital needed by those banks after the creation of the Nama would come from the Government and that would possibly push its stake above 50 per cent.

      "It could be majority government ownership. I'm not committing to that. I think it's quite possible. It could well be that state's shareholding could be above 50 per cent," Dr Honohan.

      "I would see in one or two years, I expect that the banks would not only be strong but

      confident and it's at that stage foreign investors will be keen to come and buy the shares that the government will then have in the banks."

      The Government has said it is ready to provide that extra capital if the banks do not manage to find private sources but wanted to avoid further full nationalisations after taking over Anglo Irish Bank in January.

      "I think there will be private ownership. The Government will take a larger stake. I fully expect that to happen and am not prepared to put a number on the percentage the government will own," Dr Honohan said, referring to the two top lenders.

      Ireland has so far poured €11 billion into its top two banks and state-owned Anglo and is set to pump up to €2.4 billion into the two buildings societies, EBS and Irish Nationwide, that are to sell loans at discounted price to NAMA.

      Dr Honohan said it would take two years before the overall figure needed to cleanse the banking sector would be known.

      Reuters
      Avatar
      schrieb am 23.12.09 21:04:27
      Beitrag Nr. 69 ()
      The Irish Times - Tuesday, December 22, 2009
      Banks' rate of lending to SMEs disputed
      In this section »

      SIMON CARSWELL, Finance Correspondent

      A GOVERNMENT-commissioned report has disputed the level of loan refusals to small and medium-sized companies reported by five banks, saying that the banks’ limitations mean they do not report refusals “on a consistent basis”.

      The rate of credit refusals to small and medium-sized enterprises (SMEs) may be almost a third higher than the figure reported by five banks participating in the survey, according to a report by accountancy firm Mazars, seen by The Irish Times.

      In a second and final report on the level of SME credit refusals, Mazars reported that the banks’ refusal rate of 14 per cent in the two reports may not be accurate due to “limitations” within the banks and that a rate of 18 per cent “may be more representative”.

      Mazars said that the banks were “addressing these limitations” but that it was “unlikely” they would ever be able to completely address the limitations or “to fully record informal requests for credit”.

      The five banks participating in the survey were Allied Irish Banks (AIB), Bank of Ireland, State-owned Anglo Irish Bank, and two foreign-owned lenders, Ulster Bank and National Irish Bank. The Government has invested €11 billion in State capital into AIB, Bank of Ireland and Anglo Irish Bank.

      The level of SME lending has been a contentious issue since the credit crunch began, with SMEs claiming that refusals on credit applications are much higher than the levels reported by the banks.

      The second Mazars report finds that banks and small businesses continue to contradict each other on the level of credit application refusals reported by each side.

      The first Mazars report, published last July, said the banks were declining, on average, 14 per cent of credit applications, while SMEs said the refusal rate was higher, at 24 per cent on average.

      Mazars’ second report – which has just been finalised and submitted to the Department of Finance – found that the banks reported a refusal rate of 13.6 per cent, while SMEs said the refusal rate had since risen to 28 per cent.

      The first report covered credit applications from June 2008 to February 2009, while the second report covered the period from March to September 2009.

      The second report said that again, the conflicting figures were based on a difference of opinion on what constituted a credit application, and how and when they are recorded by the banks.

      “Given the limitations of existing credit application processes and systems in participating banks, the fact that informal requests for credit are in most cases not recorded, that banks do not record declines on a consistent basis, and following our analysis of bank records, a declining rate of approximately 18 per cent in this and the prior period may be more representative,” Mazars said.

      The accountants said that the banks were “attempting to address these limitations and we understand will do so over time”.

      However, Mazars said it was “unlikely that it will be possible to ever completely address the limitations associated with credit application processes and systems and in particular to fully record informal requests for credit”.

      The firm was unable to separate formal applications for loans from those for overdrafts “due to limitations inherent in the systems of certain of the participating banks”.

      “Enquiries are not recorded and formal applications are only logged after an initial assessment has been completed by lending and branch managers,” they said.

      Mazars said that in a small number of cases where customers seek a top-up on a loan, both the existing loan and the new credit are included in credit applications and “cannot be separately identified”. In some cases applications were not recorded in full until lending decisions were made.

      Applications for loans and overdrafts, which represent about 85 per cent of applications, “cannot be split in most banks”, it said.

      Quality of loans to small firms ‘deteriorated’

      THE QUALITY of loans to small and medium-sized enterprises (SMEs) deteriorated significantly between March and September 2009 on the previous seven-month period, according to the second report from accountancy firm, Mazars.

      “Watchlist” or “impaired” SME loans – where customers are unable to make their repayment obligations – across five participating banks surveyed rose to 32 per cent in September 2009 from 22 per cent in February 2009.

      Banks are experiencing “a continued decrease in demand for new credit” as they reported a 27 per cent decline in the value of formal applications in the seven months down from 42 per cent in the earlier period covered in Mazars’ first report published last July.

      The number of formal credit applications decreased by 23 per cent on top of a 11 per cent decline in the previous seven months.

      Mazars restated the total SME loans at February 2009 by €818.5 million down to €33.6 billion from €34.5 billion in the first report, saying that additional information obtained resulted in “the technical reclassification of lending in a small number of instances”.

      The banks reported that total SME loans fell to €32.7 billion in September 2009 from €33.6 billion in February 2009 and about €34.5 billion in June 2008.

      Some €2.6 billion or 48 per cent of approved overdrafts had not been used, compared with 51 per cent in the previous seven months.

      The Mazars’ review of SME lending was agreed and funded by the banks under the terms of the Government’s €7 billion recapitalisation of AIB and Bank of Ireland.

      Of the 1,052 SMEs surveyed, 46 per cent made one or more requests for credit over the seven months and that of those 79 per cent made a formal application.

      A “change in bank lending policy” was the most common reason cited by SMEs for banks refusing credit, while substantially more companies recognised a “decline in business performance” as a reason in the second period.

      Some 78 per cent reported continued declines in turnover with 45 per cent reporting turnover dropping by 20 per cent or more.

      Companies reported “a levelling off” in the rate of decline in the number of employees over the seven months, but no increases in staff numbers were reported.

      “Micro companies”, which were defined as firms with less than 10 employees and a turnover of €2 million or lower, reported the highest level of decline for credit, representing a rate of 31 per cent.

      SME customers drew down €2.6 billion between March and September 2009 on approved loans, and finance and leasing facilities. A comparative figure was not provided for the earlier period as Mazars reported this figure for the first time in the second report.
      Lending to SMEs declined the most to companies involved in electricity, gas and water supply, followed by firms in real estate. SIMON CARSWELL
      Avatar
      schrieb am 24.12.09 09:13:54
      Beitrag Nr. 70 ()
      AIB pledges changes at top as EGM backs NAMA move




      By Thomas Molloy

      Thursday December 24 2009

      ALLIED Irish Banks plans sweeping management changes at its Irish operations next year and will centralise risk management after mostly "self-inflicted" mistakes brought the bank to its knees, executive chairman Dan O'Connor told shareholders yesterday.

      The bank, currently operating without a permanent chief executive, chief financial officer or chief risk officer, will announce "significant changes in the management team" next year, Mr O'Connor said.

      The changes to be announced by managing director Colm Doherty would ensure that executives were forced to take responsibility for decisions and also "centralise the risk structure", Mr O'Connor added.

      "What went on before was not good enough," Mr O'Connor told shareholders in the course of a three-hour meeting in the half-empty hall at the bank's Dublin headquarters. In the future, "no wrongdoing will be tolerated", he promised shareholders.

      Mr O'Connor was speaking at a meeting to nod through changes in the rules to allow the bank to transfer loans with a book value of €24.2bn to the National Asset Management Agency (NAMA) over the next two months. The move was approved with an overwhelming majority.

      Capital

      Mr O'Connor said the bank was still looking at ways to raise capital within the next year, but he conceded the bank may need to rely on the Government to an even greater degree after it transferred loans to NAMA.

      He ruled out a suggestion from a shareholder to merge the bank with rival Bank of Ireland.

      The bank's executive chairman, who reiterated plans to become a non-executive chairman in June, said the discount or difference between the stated value of loans and what the Government would pay for them would only be known once each loan had been valued. He reiterated there was no assurance it would be the 30pc Finance Minister Brian Lenihan has given as the average.

      "We are exploring a number of ways to bolster our equity capital base through asset sales, the introduction of a strategic investor, and a public share issue, which may require government support," he said.

      The Government already has a 25pc indirect stake in Allied Irish, but most analysts believe this will rise next year unless the bank sells off its Polish operations or its stake in US bank M&T, or raises money by selling new shares.

      Mr O'Connor was repeatedly pressed on whether the bank could be nationalised or whether the State could take a majority stake.

      He declined to speculate on the extent of any possible stake beyond telling shareholders that it was important to retain a listing on the stock exchange.

      Shares in some UK banks remain listed on the London stock exchange despite the British government holding stakes of as much as 80pc.

      The situation for Allied Irish would be clearer in three months time, he added. Mr O'Connor said the bank was in ongoing talks with a potential strategic investor, without providing further details.

      Allied Irish said in August it received an approach from an unidentified third party seeking a minority stake and that no progress was expected in the "near term". That statement followed reports that a Canadian bank had made an approach.

      "Rebuilding both our business and the Irish economy will take time. It will have to be done step by step. I believe NAMA is one of the key steps in the process and I hope our participation will have your support," Mr O'Connor said.

      - Thomas Molloy

      Irish Independent



      http://www.independent.ie/business/irish/aib-pledges-changes…
      Avatar
      schrieb am 26.12.09 11:23:06
      Beitrag Nr. 71 ()
      EGM December 2009

      Extraordinary General Meeting ("EGM"), December 2009

      Date/Time: Wednesday, 23 December 2009 at 11 a.m.
      Venue: Bankcentre, Ballsbridge, Dublin 4



      http://www.aib.ie/servlet/ContentServer?pagename=AIB_Investo…
      Avatar
      schrieb am 01.01.10 11:14:08
      Beitrag Nr. 72 ()
      DECEMBER 30, 2009, 4:30 P.M. ET

      ADR Report:Shares Close Lower; European Financial Stocks Weak

      NEW YORK (Dow Jones)--International companies trading in New York closed lower Wednesday as weakness in European financial stocks offset gains by companies based in Latin America.

      The Bank of New York index fell 0.1% to 136.91.

      The European index fell 0.2% to 128.09. Financial stocks pulled the region lower, particularly Irish banks. Allied Irish Banks PLC (AIB, ALBK.DB) fell 4.1% to $3.53, as Bank ...



      http://online.wsj.com/article/BT-CO-20091230-708399.html?mod…
      Avatar
      schrieb am 01.01.10 11:16:25
      Beitrag Nr. 73 ()
      Dec. 23, 2009, 7:04 a.m. EST · Recommend · Post:
      AIB confirms it will need more capital this year

      By Simon Kennedy
      http://www.marketwatch.com/story/aib-confirms-it-will-need-m…
      AIB IE:AIB

      LONDON (MarketWatch) -- Allied Irish Banks /quotes/comstock/13*!aib/quotes/nls/aib (AIB 3.50, -0.03, -0.85%) /quotes/comstock/30b!aib (IE:AIB 1.20, -0.01, -0.83%) Chairman Dan O'Connor reaffirmed that the bank will need to raise more capital in the next year as he expressed "deep regret" to shareholders over the activities that led to the group needing taxpayer support. Speaking at an extraordinary general meeting ahead of a vote to approve the bank's participation in the Irish National Asset Management Agency, O'Connor said there are no viable alternatives to participating in the scheme. He added it's still unclear how much capital the bank will need to raise in the coming year. "We are currently exploring a number of ways to bolster our equity capital base through asset sales, the introduction of a strategic investor, and a public share issue which may require government support," O'Connor
      Avatar
      schrieb am 01.01.10 11:17:48
      Beitrag Nr. 74 ()
      The Irish Times - Thursday, December 31, 2009
      Transfer of loans to Nama sets up final phase of bank rescue plan



      SIMON CARSWELL, Finance Correspondent

      THE ESTABLISHMENT of the National Asset Management Agency (Nama) marks the third part of the Government’s plan to rescue the banking sector and put the country’s financial institutions on a sound and viable footing.

      The first part involved the September 2008 bank guarantee to stop the flow of deposits out of the banking system. Part two comprised the recapitalisation of Allied Irish Banks (AIB) and Bank of Ireland, and the nationalisation of Anglo Irish Bank. The three banks have taken €11 billion in State funds but more will inevitably be needed to keep them solvent.

      Part four will involve consolidation within the banking sector, but Nama must first remove the most contaminated loans from across the banking sector before the future shape of the banking landscape is surveyed.

      Nama, according to the Government’s stated aim, should erase any lingering fears about inadequate capital reserves across the banks by forcing the five participating lenders to acknowledge the losses on their most toxic loans – those to builders and developers.

      By purchasing €77 billion in development and associated loans for the discounted price of €54 billion, the Government believes Nama will force the lenders to recognise whether they have sufficient levels of capital and force them to seek further investment – be it from the State or privately – if they don’t.

      While this works out at an average discount of 30 per cent, the Government has said that this will remain an estimate until each loan has been independently valued by Nama.

      Filling the capital holes is expected – in the absence of any investment from private investors or capital-raising through asset disposals by the institutions – to increase State ownership across the banking sector.

      The Government is preparing to convert its 25 per cent indirect stakes in AIB and Bank of Ireland into full shareholdings to address these issues.

      Central Bank governor Patrick Honohan said 10 days ago that the State “could well” end up with majority stakes in the two banks.

      The legislation setting up Nama was only passed in mid-November, some seven months after the Government first publicly outlined its plans for such an agency to cleanse the banks of their most toxic loan portfolios.

      Minister for Finance Brian Lenihan set December 21st as Nama’s “establishment day”, from which date banks have up to 60 days to apply to participate in the scheme.

      The draft business plan had envisaged the participating lenders transferring the top 10 borrowers on their development loan books to Nama by the end of the year. These borrowers owe €16 billion or more than a fifth of €77 billion in loans being moved to Nama.

      The Department of Finance expects the first loans to start moving to Nama from early February and for all 1,500-2,000 developers with loans at the five lenders to have moved by the end of July 2010. More crucially, department officials expect the banks to be able to determine their capital requirements in the first quarter of 2010 when the Nama discount is applied to the biggest development exposures. It should be clearer then as to how large the Government’s stakes will be in the two biggest banks.

      The trickle-down effect through the development loans will enable the banks to assess just how big the holes will be in their capital reserves following the first transfers.

      Two days before Christmas AIB said that it expects to receive about €17 billion in Nama bonds – the State debt that the Government is using to buy the loans from the banks – for €24.2 billion in loans heading to the agency.

      Shareholders at AIB voted at an egm on December 23rd to participate in Nama.

      Analysts expect Bank of Ireland to face a discount of 26-28 per cent on its loans, while AIB, which has a larger exposure to developers with higher loan-to-value ratios, to face a 33-35 per cent “haircut”.

      Both banks have lost about half their value since the Government announced last September that they face an average 30 per cent discount as analysts have grown more pessimistic about the writedowns they face.

      Anglo has the largest amount in loans moving to Nama with €28 billion in assets moving to the agency and the department has confirmed that the State-owned bank will participate in the so-called “bad bank” plan.

      Members at the country’s two building societies, EBS and Irish Nationwide, have voted to give the Minister for Finance “special investment shares” in the customer-owned lenders in return for a State investment.

      Their participation in Nama is now a foregone conclusion as Irish Nationwide and EBS prepare to transfer €8.3 billion and €1 billion respectively to the loans agency.

      The two societies will need up to a combined €2.4 billion from the Government. This will be injected in the early part of 2010, coinciding with the first Nama transfers.

      The tricky part of assessing the value to be assigned to the loans of the top 10 borrowers, which will set the valuation process for the rest of the loans, has already begun.

      Initial valuations on these borrowers’ loans were to have been provided by Friday, December 18th. However, valuations were still being handed over to Nama by the institutions in the days running up to Christmas.

      The banks are following strict valuation guidelines, set down by Nama’s investment banking advisers at HSBC, based on the market value of the underlying assets. But they can apply a maximum premium of 20 per cent on some land portfolios, taking account of Nama’s “long-term economic value” definition which gives the banks flexibility.

      The second half of 2010 will see Nama start tackling the exceptionally tricky task of holding, developing and selling assets, but it will be some time before taxpayers see a return on the State’s €54 billion payment.

      http://www.irishtimes.com/newspaper/finance/2009/1231/122426…
      Avatar
      schrieb am 01.01.10 11:22:39
      Beitrag Nr. 75 ()
      Die AIB Chronik 2009...


      The Irish Times - Thursday, December 31, 2009
      Annus horribilis for Irish banks



      With each passing month things got worse for Irish banks and their handling of the crisis often did not go down well with the public or the Government, writes SIMON CARSWELL , Finance Correspondent

      THE GOVERNMENT may have restarted the oxygen of funding to the banking sector with the emergency State guarantee in September 2008, but fears that the banks had potentially fatal levels of capital to protect against rising losses lingered as 2009 began.

      Just before Christmas 2008, the third largest domestic lender, Anglo Irish Bank, revealed that former chief executive Seán FitzPatrick had hidden loans of up to €122 million over eight years. The scandal forced out FitzPatrick as chairman and then David Drumm, his successor as chief executive.

      The year started with another emerging crisis and ended with all but one of the six domestic lenders still desperately low on capital and the sector facing a much greater level of State ownership in 2010.

      JANUARY

      Anglo’s finance director Willie McAteer, the bank’s third in command, followed FitzPatrick and Drumm out the door in early January.

      The Irish banking crisis was three months old at this stage, yet the three Anglo executives were the only bankers to have resigned.

      It emerged that the Financial Regulator knew of FitzPatrick’s loans that he had been temporarily hiding in Irish Nationwide Building Society (INBS) over the years.

      The loans were detailed in the bank’s quarterly reports to the regulator. The regulator’s chief executive Pat Neary – already under pressure for his repeated assurances throughout 2008 that the Irish banks were adequately capitalised – announced his departure.

      By the late evening of Thursday, January 15th, the strain on Anglo became too great and the Government was forced to take the bank into full State ownership, blaming the “serious reputational damage to the bank” caused by the controversy over FitzPatrick’s loans.

      Brian Goggin said he would step down as Bank of Ireland chief executive in the summer after the bank decided to accept a State capital bailout and due to the bank’s collapsing share price. His departure was expedited after he proclaimed to RTÉ that, following a voluntary pay cut, he would earn “less than €2 million” for the current financial year.

      FEBRUARY

      The nationalisation of Anglo spooked investors creating uncertainty that the Government may have to take over other banks.

      Further controversies came thick and heavy as it emerged that Irish Life Permanent (ILP) had moved deposits of €7.45 billion into Anglo for several days over the latter bank’s previous September 30th financial year end.

      The deposits falsely flattered Anglo’s balance sheet at a time of severe volatility and made the bank appear much stronger than it was on a day when investors were closely scrutinising its books.

      Anglo claimed the lodgements were customer deposits, while ILP argued they were inter-bank deposits backed by funds originating from Anglo. This is now the subject of investigations by the Garda and the Director of Corporate Enforcement Paul Appleby.

      ILP had argued that the move had been encouraged by the Financial Regulator and the Central Bank as part of a “green jersey agenda” to encourage Irish banks to support one another through the liquidity crisis of 2008.

      The regulator said that it was unaware of the precise nature of the arrangements in advance and that, while it would have encouraged interbanking lending, it could not support the nature of the transfers, which masked Anglo’s heavy losses of customer deposits. It emerged that the regulator became aware of the transactions a month after they took place, but failed to raise any issue until mid-January.

      Despite differing accounts over who knew what and when, ILP chairwoman Gillian Bowler admitted the deposits were “wrong” and regretted that they had happened. ILP’s board met and accepted the resignations of finance director Peter Fitzpatrick and head of treasury David Gantly, and later chief executive Denis Casey.

      By this stage, three Irish bank chief executives had resigned.

      During the same week, the Government announced a revision of its pre-Christmas recapitalisation plan, saying it would inject €3.5 billion each into Allied Irish Banks (AIB) and Bank of Ireland, for 25 per cent preference share stakes.

      Soon afterwards, Minister for Finance Brian Lenihan sought to remove the banks’ most toxic loans – the €60 billion in loans to developers against which banks were taking heavy losses. The Government enlisted economist Peter Bacon to devise a “bad bank” plan to cleanse the lenders.

      Dr Michael Walsh resigned as Irish Nationwide Building Society (INBS) chairman on February 17th as further revelations emerged about FitzPatrick’s “bed and breakfast” loan arrangement to hide his borrowings at Anglo.

      Anglo’s long-awaited annual report for the year to September 30th, 2008 – when the bank teetered on the brink – was published late the following Friday with a report by accountants PricewaterhouseCoopers (PwC). They provided fascinating details into the bank’s financial position the previous autumn and its wild lending.

      The PwC report showed just how close Anglo was to going bust.

      Anglo had lost €10 billion in deposits in September 2008 and was facing a negative cash position of €12 billion by mid-October. The heavily edited report found that the bank had very large exposures – about 15 customers with loans of more than €500 million each.

      It was a case of a having far too many eggs in a very fragile basket.

      The bank also said in its annual report that it would have to write off €300 million in loans provided to 10 long-standing customers who had purchased a 10 per cent stake in the bank during the summer of 2008 to prop up the share price.

      The so-called “Golden Circle” transaction, known within Anglo as the Maple transaction, arose after businessman Seán Quinn decided to convert an indirect 25 per cent stake in the bank into a direct shareholding of only 15 per cent. This left an overhang of 10 per cent of the bank’s shares, which, if left to the open market, would lead to the stock plummeting, sounding alarm bells about the stability of Anglo.

      The secret share deal is the third strand of the official inquiries taking place at Anglo.

      At the end of the month Richie Boucher, an internal candidate and former head of Bank of Ireland’s Irish retail operations, was appointed to succeed Goggin.

      The appointment drew criticism from several quarters, including financier Dermot Desmond, who said that a person who helped create the bank’s problems should not be charged with solving them.

      MARCH

      As bank shares fell to record lows, Lenihan issued assurances that outflows of deposits at the two main banks was nothing to worry about. This did little to ease the growing pressure on the banks’ funding as the system came under a level of stress last experienced the previous September.

      This had a knock-on effect, driving up the Government’s borrowing costs to the most expensive level recorded in a decade compared with German debt.

      The month started with troubling 2008 annual results from the State’s largest bank, AIB. Heavy write-downs on Irish development loans forced the bank’s Irish operation into its first loss since the bank was established in 1966.

      Chief executive Eugene Sheehy refused to resign, saying that he planned to lead AIB through the crisis. He said that the bank had believed there would be “a soft landing” in the economy.

      AIB said it could write off €8.5 billion on bad loans over three years and, with the €3.5 billion taxpayer bailout, would still have enough capital to survive the recession.

      The crisis claimed more casualties as the chairman and finance director of the Educational Building Society (EBS) resigned after the customer-owned lender, a minnow in property development lending, made a loss of €38 million for 2008 as a result of these loans.

      Three days later, the Government committee on bankers’ pay, dropped another bombshell. Michael Fingleton, the chief executive of INBS, the State’s other building society, had been paid a €1 million bonus in November 2008, just weeks after the society secured protection under the State guarantee.

      Fingleton said that he was contractually entitled to the bonus which had been agreed in early 2008. It subsequently emerged that he was also the sole beneficiary of a €27 million pension.

      By late March, the Government had taken Peter Bacon’s advice and started preparations to establish a bad loans agency to cleanse the banks of their toxic assets.

      APRIL

      The mounting pressure on Fingleton became too much and he agreed to step down, promising to repay his bonus to INBS. As the year comes to a close, the society has to yet to be repaid.

      Fingleton became the fourth bank chief executive to step down; only Eugene Sheehy at AIB and Fergus Murphy at EBS remained.

      The Government’s emergency budget of April 7th was dominated by the establishment of the National Asset Management Agency (Nama) which would buy up to €90 billion in development and associated loans at a discount.

      Dr Bacon said this would remove uncertainty about the banks’ capital requirements, while Lenihan said the economy could not sustain banks postponing losses on property loans.

      The Minister refused to say how much the Government would pay for the loans but that, if the purchases led to losses and the banks needed more capital, the State would take majority stakes.

      AIB reluctantly accepted that the State’s €3.5 billion would not be enough to absorb future losses and agreed to raise a further €1.5 billion after a more severe stress test by the Government.

      The admission spelt the end for AIB’s three most senior bankers. After surviving seven months of the crisis, AIB chairman Dermot Gleeson, chief executive Eugene Sheehy and finance chief John O’Donnell agreed to stand down.

      The bank had stubbornly resisted State aid and then twice increased the capital that it needed, all the time refusing to contemplate management changes until large shareholders threatened to withdraw support.

      MAY

      Two weeks later, their humiliation was complete when a shareholder hurled two eggs at Gleeson and Sheehy as the bank sought investor approval for the State’s €3.5 billion recapitalisation.

      Bank of Ireland governor Richard Burrows became the fifth bank chairman to step down, saying that accountability “must be taken at the top” after the bank upped its estimate for long-term loan losses to €6 billion and due to the plummeting stock.

      ILP’s Gillian Bowler, the only surviving chairwoman across the six domestic financial institutions, refused to stand down, proclaiming herself to be a fighter not a quitter. She outlined to shareholders that the company intended to restructure itself so it could offload its loss-making bank, Permanent TSB, in an anticipated consolidation of the banking sector.

      Dr Michael Somers, head of the National Treasury Management Agency, under whose roof Nama will operate, caused quite a stir in mid-May when told the Committee of Public Accounts (PAC) that he knew very little about how the agency would operate and that the Government was facing “an appalling dilemma”. He warned that Nama could be “a bonanza” for lawyers.

      The publication of Anglo Irish Bank’s half-year results at the end of the month showed the scale of the problem. The bank posted €4.1 billion in losses, the largest in Irish corporate history, wiping out the bank’s capital reserves. The Government agreed to a €4 billion State bailout, while the bank hinted at further future losses and more demands for State capital.

      JUNE

      New recruits were brought in to steer the Irish banks. Former Bank of Ireland chief executive Pat Molloy joined the bank as governor. Gerry McGinn, formerly head of Goodbody Stockbrokers in Northern Ireland, replaced Fingleton as chief executive of Irish Nationwide and Irish Life’s chief executive Kevin Murphy stepped up to take the helm at ILP.

      JULY & AUGUST

      By the start of July, Bank of Ireland warned that operating profits (before heavy loan losses) were under pressure due to higher funding costs.

      Permanent TSB tried to offset this by increasing the standard variable rate on 50,000 mortgages. The ensuing uproar scared other lenders off repeating the trick.

      The heavy losses from the collapsing property sector began to hit home as developer Liam Carroll became the first mega borrower to seek protection for his heavily indebted companies.

      After a marathon legal battle and two failed bids for protection in the High Court and Supreme Court, the group collapsed under debts of €1.3 billion in October.

      The case showed the scale of the writedowns facing the banks and posed a huge dilemma for Nama.

      Late in July, the Government published the draft Nama legislation but omitted the key detail of how much the State would pay on the loans. The Bill said the Government would buy some loans at a “long-term economic value” above the market value as the properties backing the loans had no buyers in the current distressed market.

      SEPTEMBER

      More than five months after announcing Nama, the Government finally disclosed on September 16th that it would buy property and associated loans of €77 billion from the banks at a cost of €54 billion, representing an average discount or “haircut” of 30 per cent across the five participating lenders.

      This represented an overpayment of €7 billion to account for the “long-term economic value” as the market value of the properties backing the loans was €47 billion.

      The plan was to withhold €2.7 billion of the €54 billion from the banks so as to share the risk between the banks and the State.

      The Government said that Nama would buy €28 billion in loans from Anglo, €24 billion from AIB, €16 billion from Bank of Ireland, €8 billion from INBS and €1 billion from EBS. For INBS, it would mean the loss of 80 per cent of its loans, putting its future as an independent institution in jeopardy.

      AIB said it would now raise €2 billion in extra capital over the next 12 to 18 months, while Bank of Ireland said the discount on its Nama loans would be significantly less than the 30 per cent average.

      September marked the arrival of a new chief executive at Anglo,Australian banker Mike Aynsley, to repair the broken bank.

      The Government appointed academic and banking expert Dr Patrick Honohan as governor of the Central Bank to replace John Hurley. The appointment broke a long tradition of installing a senior civil servant to head up the bank.

      OCTOBER

      The Government appointed Bermuda banking regulator, Matthew Elderfield, to the head of financial supervision, a new role within a reformed Central Bank Commission, which would remerge the old Central Bank and Financial Regulator under the same roof.

      The Government issued a draft business plan saying the National Asset Management Agency would turn a profit of €5.5 billion by 2020 with a 10 per cent rise in property values after previously saying it would break even.

      NOVEMBER

      Bank of Ireland and AIB submitted five-year restructuring plans to the European Commission under the terms of the State’s €7 billion recapitalisation.

      Both saw their share prices slump after a brief rally to the middle of September as the property valuations on loans heading into Nama weighed heavily on the banks.

      At the end of the month, Bank of Ireland revised upwards an earlier estimate, saying the Nama haircut on its loans “should not be greater than” the 30 per cent average. The bank said that it would not need further State capital, to the surprise of many in the market.

      AIB was rocked by yet more controversy during the month when it decided to appoint insider Colm Doherty, head of AIB’s capital markets division, as managing director – a new title created as a compromise when the bank could not find a suitable external candidate, the Government’s preferred option.

      Mr Lenihan was furious when the bank subsequently proposed maintaining Mr Doherty on his current annual salary of €633,000, above the Government’s €500,000 pay cap. The bank quickly backed down.

      Anglo said that it would create a good-bank/bad-bank post-Nama as this was the cheapest option facing the State, far cheaper than liquidating the bank, a route favoured by many members of the public.

      The Government’s repair work on the banking sector moved on to the two smallest lenders, EBS and INBS, during November.

      With the lenders preparing to sell a combined €9 billion in loans to Nama, Lenihan encouraged both institutions to engage in merger discussions given that both would require substantial sums of State capital to fix them.

      DECEMBER

      The clean out of second-tier senior executives at Anglo began this month with the Minister for Finance pledging that any former or current managers at the bank who were in default on outstanding loans would be pursued.

      By Christmas, Anglo chief Mike Aynsley had filled nine of 10 positions on his new management team with five insiders and four outsiders.

      The bank also began its court action against Mr Drumm to recoup loans of €8.3 million.

      ILP shareholders voted for a restructuring that would facilitate a quick disposal of Permanent TSB. AIB’s shareholders agreed to participate in Nama.

      Irish Nationwide and EBS secured approval from their members to take up to €2.4 billion in capital from the Government in return for issuing controlling stakes to the Government.

      This paves the way for the Government taking a stake of up to 90 per cent in the enlarged EBS-INBS mutual, but the jury was still out at year end as to whether Permanent TSB would be added to create a “third force” in domestic banking to rival AIB and Bank of Ireland.

      Central Bank governor Patrick Honohan called for a 9-11 style inquiry into the causes of the banking crisis, which brought a cool response from Government.

      By the end of the year, the Government’s running total on bank capital injections stood at €11 billion with up to €2.4 billion more sought by the building societies.

      Merrion Stockbrokers estimated that AIB and Bank of Ireland would require an additional €7.2 billion, though some of this may come from private investors and asset sales.

      Anglo will need several billion more to cover further losses and to fund its restructuring, if approved by the EU.

      In the week before Christmas, the Government finally unveiled the board of Nama, which will be chaired by former Revenue chairman Frank Daly and feature among others retiring IMF executive Steven Seelig, who, in correspondence ahead of the Nama legislation, memorably commended the wording of the definition of “long-term economic value” on bank loans as “masterful” in being “sufficiently specific” and “sufficiently vague” to allow “appropriate flexibility”.

      The Irish banking system is set for radical change through 2010 and the State will fund the reshaping, a bill that could amount to €20 billion and possibly more.

      This is before the €54 billion Nama plan and the long-term sweating of bad assets that are currently worth €47 billion at most.
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      schrieb am 02.01.10 14:28:09
      Beitrag Nr. 76 ()
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      schrieb am 02.01.10 20:53:34
      Beitrag Nr. 77 ()
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      schrieb am 05.01.10 08:32:07
      Beitrag Nr. 78 ()
      irishtimes.com - Last Updated: Monday, January 4, 2010, 16:45

      Lenihan backs banks inquiry calls



      Minister for Finance Brian Lenihan said today he supported calls for an inquiry into the circumstances that led to the banking crisis.

      But he insisted such an inquiry should wait until the National Asset Management Agency (Nama) had completed its work and the State’s banks had been recapitalised.

      Speaking on RTÉ Radio today, Mr Lenihan said he accepted there had been “excessive lending across all institutions” preceding the crisis and some institutions had serious issues regarding corporate governance.

      The Central Bank Governor Patrick Honohan last month called for an inquiry, saying such an investigation was necessary for society at large as many questions remained unanswered.

      The two main Opposition parties have endorsed Mr Honohan’s view that an inquiry is needed.

      What Mr Honohan "indicated is that some inquiry needs to take place" and "I agree with that," Mr Lenihan said today.

      But Fine Gael finance spokesman Richard Bruton accused Mr Lenihan of prevaricating on calls for an investigation into the crisis, claiming the State’s "collapsed financial sector" ran the risk of repeating the mistakes that got the economy into crisis in the first place.

      Mr Bruton said: “The Government and its authorities are now shaping public policies to reform our banking system. This should be done with the full knowledge of what went wrong. Otherwise, how can we be sure that we have rooted out the causes.”

      “Ireland’s reputation is on the line. Outside investors are watching to see whether Ireland confronts the problem and fixes what is broken. This includes confronting activities that might damage reputations or force further resignations,” he said.

      In his interview, Mr Lenihan said he was aiming to resolve the issue of recapitalisation regarding Irish banks in the first quarter of the year.

      He claimed the economy was now turning a corner away from the recession.

      Mr Lenihan insisted Government spending was "under control" and that the Government’s budgetary position is stabilising.

      The Government has already injected a combined €7 billion into Allied Irish Banks and Bank of Ireland, and nationalised Anglo Irish Bank.

      Bank of Ireland rose as much as 26.6 cents, or 20 per cent, to €1.59 in trading on the Dublin market today, while Allied Irish Banks climbed as much as 14.8 cents, or 12 per cent, to €1.35.
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      schrieb am 05.01.10 13:27:58
      Beitrag Nr. 79 ()
      Bank shares soar after 'comforting' statement



      By Joe Brennan

      Tuesday January 05 2010

      BANKING stocks surged and global market appetite for Irish government debt improved yesterday after Finance Minister Brian Lenihan vowed to stay in office as he receives cancer treatment.

      Shares in Bank of Ireland rocketed 15pc to €1.52, while Allied Irish Banks jumped 12.5pc to €1.35.

      "Certainly, the market is benefiting from Brian Lenihan's commitment about remaining in his role at a critical time. It is of huge comfort," Kevin McConnell, head of research at stockbrokers Bloxham, said.

      Meanwhile, the interest-rate premium that international markets demand from the Irish Government for its borrowings compared to Germany, the European leader, continued to fall.

      This gap between Irish and German government bonds, which is closely watched by international investors, hit its narrowest level in a year yesterday morning.

      This is of huge importance as the Government goes about borrowing €20bn to plug its expected budgetary hole this year.

      Flagged

      Bank shares had already been rising strongly ahead of Mr Lenihan's press statement and RTE Radio appearance at lunchtime -- as his intention to remain in office had already been well flagged in the press over the weekend.

      A senior Dublin-based stockbroker said: "The minister put in a robust performance today. But it's hard to say whether this is something of a 'Lenihan rally' in the stock market or investors having a flutter on the first day of trading of the year."

      He added: "Shares in the banks are likely to remain very volatile over the coming months as investors continue to worry about the amount of capital they will need as they begin to transfer loans at a loss to NAMA (National Asset Management Agency)."

      The discounts banks are set to take on their NAMA loans are set to blow large holes in their balance sheets. Mr Lenihan reiterated on RTE Radio yesterday that the State may have to bail out AIB and Bank of Ireland again if they cannot raise the cash from private investors or sales of assets and subsidiaries.

      "I know they are looking at how they can seek to obtain (capital) on the markets. But if they cannot do this, then the State will have a greater public ownership of these institutions," he said.

      He reiterated a warning from last month that the banks have until the end of March to address their capital needs -- or risk majority state ownership.

      "We cannot have any continuing doubts about the viability, about the capitalisation, about the standing of the banking sector. With an economic recovery under way later in the year, we need a banking system that will support that," he said.

      Mr Lenihan said he agreed with recent calls from Central Bank governor Patrick Honohan that there should be an inquiry into the crisis.

      But he said that any inquiry should wait until the NAMA transfers were completed and the banks were recapitalised.

      - Joe Brennan

      Irish Independent
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      schrieb am 06.01.10 07:22:32
      Beitrag Nr. 80 ()
      Allied Irish Banks initiated with "underweight"
      01/05/10 - Barclays Capital

      NEW YORK, January 5 (newratings.com) - Analysts at Barclays Capital initiate coverage of Allied Irish Banks (AIB) with an "underweight" rating.


      http://www.newratings.com/en/main/company_headline.m?id=2008…
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      schrieb am 06.01.10 07:24:29
      Beitrag Nr. 81 ()
      The Irish Times - Wednesday, January 6, 2010


      Bank shares gain over 20% in new year trading

      PAMELA DUNCAN

      IRISH BANK shares were up again yesterday with both AIB and Bank of Ireland enjoying gains of 23 per cent and a 21 per cent respectively over the two-day period since the markets reopened on Monday.

      However, analysts continued to play down reports that the impact can be attributed to comments made by Minister for Finance Brian Lenihan earlier this week when he said he intended to complete the recapitalisation of the banks by the end of the first quarter of 2010.

      While the remarks may have underpinned the banks, many analysts instead pointed to wider market influences including a strong performance by the sector internationally and a clean slate provided by the start of a new trading year.

      Alan McQuaid, chief economist with Bloxham Stockbrokers, said that, while Mr Lenihan’s confirmation that he will be staying in his office had reassured the market, this was not the “be all and end all” when it came to the banks’ performance over the past two days.

      He said the surge is linked to a strong international performance in the sector amid hopes that the worst of investor sentiment toward the banks is now past.

      “Banks aren’t out of the woods yet – there are still a lot of unanswered questions out there. It was a reassuring statement – markets like reassuring statements – but I think the markets are well aware ... that you can’t take anything for granted and that it’s very much a wait-and-see game.”

      Sebastian Orsi of Merrion Stockbrokers said that it was unlikely that Mr Lenihan’s comments on the recapitalisation of the banks would have had an overwhelming effect in driving the stocks up.

      “It was a positive contribution but it is hard to say they were specifically up because the stocks were up in advance of [Mr Lenihan’s statement], he said, adding that part of the current surge in the banking sector could also be partially attributed to a “fresh sheet” at the start of a new trading year.

      Eamonn Hughes, analyst with Goodbody Stockbrokers, noted that, while Irish banks opened strongly on Monday, this was based on relatively low volumes, just 40-45 per cent of typical levels as investors were still making their way back to work after Christmas.

      Another market analyst said that, while Mr Lenihan’s comments were welcome, volatility in the banking sector was likely to continue pending more clarity surrounding the National Asset Management Agency (Nama).

      “The market will be watching and waiting for the first transfers to Nama but before that we won’t really know,” she said, adding that the banks’ recovery had to be taken in the wider context of the overall sector and the strong performance posted by the UK banks and other lenders in the European markets.

      In an interview with RTÉ News on Monday Mr Lenihan said the Government will provide more capital to the country’s banks if needed, adding that he intends to resolve the crisis in the banking sector in the first quarter of 2010.

      “Clearly Nama is going to accelerate losses in Bank of Ireland and Allied Irish Banks and these banks will then require capital to make up those losses and if they cannot raise funds on markets . . . then the State will have a greater public ownership of these institutions.

      “So all of these matters will work themselves out in the first quarter of this year and they must work themselves out because we cannot have any continuing doubts about the viability, about the capitalisation, about the standing of the banking sector. With an economic recovery under way later in the year we need a banking system that will support that,” Mr Lenihan said.


      http://www.irishtimes.com/newspaper/finance/2010/0106/122426…
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      schrieb am 07.01.10 09:52:44
      Beitrag Nr. 82 ()
      Barclays 'wary' as cost of funding for Irish banks to double

      By Emmet Oliver Deputy Business Editor
      Irish-independent
      Thursday January 07 2010

      Funding costs for the Irish banks are set to double and possibly triple, with AIB and Bank of Ireland unable to pass on the higher costs to customers, a report from Barclays Capital warns.

      The London-based bank said it was "wary" of Irish banks with AIB's average funding costs to rise from 3.3pc to 5.8pc, and Bank of Ireland's to rise from 2pc to 5.8pc.

      The influence of the Government on the two banks means neither will be able to fully pass on higher funding costs, the Barclays report claimed.

      "Given the high level of government support it has received, we do not expect AIB to be in a position to pass on higher funding costs to customers," according to the report.

      In relation to Bank of Ireland, Barclays said the likelihood of the bank passing on the higher costs, via higher rates on mortgages, was "limited".

      According to the report, which circulated in London yesterday, AIB will still need to raise €2.1bn in fresh capital if it sells its Polish and US businesses. "In the current environment, we would not attach much value to this," Barclays said of AIB's plan to sell its overseas assets.

      The comments are included in a report on 20 major European banks. According to a survey of the banks, Bank of Ireland would have the highest funding costs in Europe once it starts raising fresh wholesale funding. According to Barclays, AIB and BoI are both facing major challenges despite recent attempts by the Government to stabilise the system. They will both have to raise huge amounts of capital even after Nama has removed their most toxic loans.

      AIB will have to raise 603pc of its market value, with Bank of Ireland needing to raise 348pc of its current market worth.

      However, the report says both banks are "too big to fail" and predicts that they will continue to get government support if the private sector does not come forward.




      The banks are faced with a simple choice, said Barclays, of either cutting back on the amount they lend or taking in more deposits. But with the Irish deposit market so small, this is going to be difficult.

      AIB will either have to shrink its loan book by 34pc or boost its deposits by 52pc. Bank of Ireland will have to reduce its loan book by 35pc or bolster its deposits by 53pc.

      The report said Bank of Ireland could end up with a government stake of over 50pc, leaving current shareholders massively diluted.

      - Emmet Oliver Deputy Business Editor

      Irish Independent
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      schrieb am 07.01.10 17:56:37
      Beitrag Nr. 83 ()
      irishtimes.com - Last Updated: Thursday, January 7, 2010, 16:03
      NTMA to raise less in bond sales


      The National Treasury Management Agency will raise less in debt sales this year as the budget deficit shrinks and a smaller amount of bonds mature, it said today.

      The agency will raise as much as €20 billion in the bond market, down from €35.4 billion in 2009, of which €5 billion was pre-funding to this year.

      NTMA chief executive John Corrigan said the lower fund-raising target was due to a smaller projected Exchequer deficit of €18.7 billion compared to €24.6 billion in 2009, and a lower refinancing requirement of €1.2 billion.

      He said syndicated bond sales this year will be used to "supplement" the regular bond auctions.

      The NTMA's director of funding and debt management Oliver Whelan said the NTMA is considering a 10-year syndication issue.

      Ireland's national debt amounted to 65 per cent of GDP at the end of 2009, up from 44 per cent a year earlier.

      At 12.30pm, the 10-year Irish bond yield spread over euro zone benchmark German Bunds was steady at 146 basis points compared with mid-morning levels in Europe, but three basis points tighter than at the European settlement close yesterday. The spread has been tightening since marking a peak of 198 bps on December 10th.

      The NTMA said it is confident of EU approval for National Asset Management Agency scheme by February, which will mean a slight delay to its launch.

      Nama, which will operate under the auspices of the NTMA, expects to buy toxic loans worth €80 billion, between February and the third quarter.

      Nama Chief Executive Brendan McDonagh said the European Commission has already asked the Irish financial regulator to oversee the process.

      He said the forecast that the assets would be bought at a 30 per cent average discount was still valid. The discount determines how much extra capital lenders such as Allied Irish Banks and Bank of Ireland will need, possibly from the state, which has already pumped €11 billion of capital into the sector.

      http://www.irishtimes.com/newspaper/breaking/2010/0107/break…
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      schrieb am 11.01.10 09:40:52
      Beitrag Nr. 84 ()
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      schrieb am 11.01.10 12:08:02
      Beitrag Nr. 85 ()
      Irish debt guarantee scheme too generous, says ECB

      By Emmet Oliver Deputy Business Editor

      Monday January 11 2010


      The highly influential European Central Bank (ECB) has questioned the way the Government plans to guarantee billions of euros of debt for the banks, saying the scheme may be too generous compared to those of other European countries.

      The bank, led by Jean-Claude Trichet, has given the green light to eurozone countries to guarantee short-term bank debt, but only for borrowings running from three months to a year in duration.

      Ireland's revised scheme, however, allows even short-term debt of less than three months to qualify for a guarantee -- which has drawn a negative reaction from the Frankfurt-based body.

      "Granting government guarantees for bank debt with a maturity of less than three months should be avoided to the extent possible," said the ECB opinion, which was signed by Mr Trichet and passed to the Government before Christmas.

      The Government had requested an opinion from the ECB on the scheme in late October.

      The ECB said Ireland's banks still faced significant challenges, but that this was not enough reason to allow short-term debt to get a full state guarantee. The bank stated that countries like Ireland had to avoid undermining a single policy on bank rescues in Europe.

      "It is essential that the scheme will not impair the implementation of the single monetary policy throughout the euro area," stated the opinion.

      The ECB noted how the Irish scheme -- known as the Eligible Liabilities Guarantee Scheme -- had no restrictions on the kind of short-term debt the Government would stand over.

      "It is noticeable that, under the draft scheme, there is no stated minimum maturity for any guaranteed liabilities."

      The ECB added that the Irish scheme opened up the danger that borrowings of less than three months might be guaranteed in practice. The ECB opinion is clear that it supports a "level playing field" when it comes to governments designing their bank rescue plans.

      "Uncoordinated decisions among members states should be avoided as they may involve a fragmentation of the euro area money market," it said.

      The ECB has already given opinions on the original bank guarantee scheme -- which was agreed on September 29, 2008 -- and said its latest opinion should be read in the context of that earlier view.

      The Government was also quoted in the opinion explaining the need to guarantee even very short-term borrowings.

      One reason given was that Irish banks continued to suffer from liquidity problems despite some recent improvements.

      Secondly, the Government pointed out that deposits of less than three months were also guaranteed and, thirdly, it was trying to wean banks off this practice in the latest scheme.

      The Government was, however, complimented for ensuring the scheme is to be reviewed on a six-month basis and that these reviews would be passed on to the ECB.

      The bank also welcomed the Government's commitment to end the practice within five years as it helped to "harmonise'' policies across Europe.

      The decision to charge banks for use of the scheme was also praised as fitting with ECB policy, the bank said.

      - Emmet Oliver Deputy Business Editor

      Irish Independent


      http://www.independent.ie/business/irish/irish-debt-guarante…
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      schrieb am 11.01.10 15:08:32
      Beitrag Nr. 86 ()
      WSJ-Business




      JANUARY 11, 2010, 5:46 A.M. ET


      European Bank Shares Have Long Way to Recover

      BY KIMBERLY VLACH

      As the global economy slowly recovers, banks are doing likewise.

      After rebounding from deep lows in March 2009, the banking sector has, for the most part, sprinted higher. Many investors are betting the sector will remain a decent bet in 2010, boosted by generous central bank policies and improving balance sheets.

      The fate of the banks is deeply intertwined with the economy's path. A return to recession— the so-called double dip—would create a new round of difficulties for the sector. Also, banks have benefited from a wide range of extraordinary measures, such as record low interest rates, aimed at restoring ...


      http://online.wsj.com/article/SB1000142405274870353510457464…
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      schrieb am 12.01.10 16:09:29
      Beitrag Nr. 87 ()
      Avatar
      schrieb am 13.01.10 09:05:34
      Beitrag Nr. 88 ()
      Technical Analysis
      Back to SmarTrend News & Market Analysis
      Allied Irish Banks: The Trend Continues Higher (AIB) - 1/11/2010 11:07:12 AM

      By Chip Brian, SmarTrend Analytics Team

      SmarTrend identified an Uptrend for Allied Irish Banks (NYSE:AIB) on January 05, 2010 at $4.47. In approximately 1 week, Allied Irish Banks has returned 8.5% as of today's recent price of $4.85.

      Allied Irish Banks is currently above its 50-day moving average of $4.69 and should find resistance at its 200-day moving average of $5.17. Look for these moving averages to climb to confirm the company's upward momentum.

      SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any shifts in the trajectory of Allied Irish Banks shares.

      Contact Chip Brian


      http://www.mysmartrend.com/sl/23668
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      schrieb am 13.01.10 09:16:18
      Beitrag Nr. 89 ()
      2010, The Year of Irish Banks! (IRE, AIB, IRL, STD, BBVA, NBG)

      Posted: January 4, 2010 at 1:41 pm
      printPrint emailEmail RSSSubscribe Free Newsletter Follow us on Twitter 24/7 Wall St Real Time 500

      If today’s price action is of any indication for the full year, it seems that 2010 may be poised to be the year of the Irish banking sector. Today’s big winners were not just banking stocks, but they were specifically the Irish banking stocks. Shares of Irish financial stocks traded higher in New York (and local markets overseas) after reports that Finance Minister Brian Lenihan has said that he plans to stay as Finance Minister while he receives treatment for pancreatic cancer. Lenihan is considered a prominent figure helping to oversee Ireland’s financial recovery. The Bank of Ireland (NYSE: IRE) NYSE-listed ADR was up 17% at $8.97 as of 1:00 PM EST. At the same time, Allied Irish Banks plc (NYSE: AIB) was up over 15% at $4.05. This even had the The New Ireland Fund, Inc. (NYSE: IRL) closed-end mutual fund up 2.66% at $7.29 today versus the Irish exchange, the ISEQ, up 122.83 points at 3,097.76 on the day for a gain of close to 4%. It seems that Ireland was alone in the joy compared to other troubled European market banks.

      Lenihan had apparently noted that public finances are recovering, and also noted that both Bank of Ireland (IRE) and Allied Irish Banks plc (AIB) may need government-backed funds. In short, it doesn’t sound as though the regulators in Ireland are hellbent on wrecking the sector with a 3.5 billion Euro investment in each bank for 25% stakes. There were already reports in December that Allied Irish Banks was going to raise capital in 2010, so today may be more of a formal nod of approval despite some existing woes.

      We wanted to see if some of the other trouble spot banks in Europe were higher today, but not anything at all like what we saw in Ireland. In Spain’s largest bank, Banco Santander, S.A. (NYSE: STD) was up ‘only’ over 3% at $16.95, versus a 52-week range of $4.87 to $17.89, after reports last week that Spanish banks are finally starting to unload property portfolios. Its rival bank of Banco Bilbao Vizcaya Argentaria, S.A. (BYSE: BBVA) was up 3% at $18.60 per ADR today. Greece is in perhaps deeper financial trouble with ratings agency turmoil, yet National Bank of Greece SA (NYSE: NBG) was hardly moved today. Shares were up only 0.4% at $5.23 versus a 52-week trading range of $2.09 to $8.37 for the ADR.

      To show how crazy the Irish banks have been, Bank of Ireland (NYSE: IRE) share price of $8.97 compares to a 52-week trading range of $0.66 to $20.18. Allied Irish Banks plc (NYSE: AIB) share price of $4.05 compares to a 52-week range of $0.72 to $10.42. That closed-end fund called This even had the The New Ireland Fund, Inc. (NYSE: IRL) with a $7.29 price has a 52-week range of $3.22 to $8.75.

      If these banks can poise serious recoveries and recapture any of their former glory for investors, Ireland might change to Irelend.

      JON C. OGG


      http://247wallst.com/2010/01/04/2010-the-year-of-irish-banks…
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      schrieb am 15.01.10 09:04:15
      Beitrag Nr. 90 ()
      In Short
      In this section »

      The Irish Times - Friday, January 15, 2010

      A round-up of today's business news in brief

      NTMA raises 5bn from 10-year bond

      The National Treasury Management Agency (NTMA) raised €5 billion yesterday from a bond maturing in October 2020.

      The 10-year bond was issued at a yield that is 1.62 per cent higher than the cost of the equivalent German bond.

      This compares with the equivalent of 2.44 per cent over the German bond on a 10-year bond issued by the NTMA last June.

      NTMA chief executive John Corrigan said the bond issue accounted for one-quarter of the Government’s €20 billion funding requirement for this year.

      Greenstar appoints chief executive

      NTR’s US waste business, Greenstar North America, has appointed former hedge fund partner Michael Simmons as its chief executive officer.

      Mr Simmons recently joined the company from Q Investments, where he was a senior operating partner.

      Q Investments is a “multi- billion dollar, multi-strategy” fund. Mr Simmons also spent 20 years at GE, where he held positions in corporate finance, mergers and acquisitions, business development and operations.

      Irish-based NTR has invested $710 million in its US business, about half of that in recycling.

      IL&P seeking to generate capital

      Irish Life & Permanent is close to generating €200 million in capital from the securitisation of part of its life assurance book, which will be used to boost the capital reserves of the company’s loss-making banking division, Permanent TSB.

      The company has estimated that it will need about €500 million in additional capital to absorb mounting loan losses in the bank.

      AIB appoints Somers to board

      Allied Irish Banks (AIB) has appointed Dr Michael Somers as a non-executive director. He will assume the role of deputy chairman of AIB.

      Dr Somers, the former chief executive of the National Treasury Management Agency, has been appointed to the board under the terms of the Government’s recapitalisation of the bank with €3.5 billion from the pension reserve.


      http://www.irishtimes.com/newspaper/finance/2010/0115/122426…
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      schrieb am 15.01.10 09:09:17
      Beitrag Nr. 91 ()
      Goodbody may be sold as part of AIB restructure




      By Joe Brennan

      Friday January 15 2010

      Goodbody Stockbrokers could be put up for sale under one of the measures being considered by Brussels as part of the restructuring plan for Allied Irish Banks, the firm's parent, according to sources.

      A sale of the brokerage is highly unlikely to deliver a capital gain to shore up the diminishing equity reserve ratio of AIB, as bad loan losses continue to spiral.

      However, the upside for the bank is that it would no longer have to hold a pool of capital against the brokerage. But sources said it would also shave off over 260 employees in one fell swoop from the group's cost base, lower regulatory risk and allow AIB to pursue its "back to basics" banking strategy.

      AIB acquired the brokerage in 1990, when it was then named Goodbody James Capel, in a reported £20m-plus (€25.4bn) deal. At the time, the firm was 65pc-owned by its management, with the remainder in the hands of London brokers James Capel.

      An informed source said yesterday that a possible sale of Goodbody's is "a suite of measures" the European Commission is looking at as part of AIB's restructuring plan, submitted in November and necessitated by the group's €3.5bn State bail-out last May.

      However, it is not believed to be a core element of AIB's five-year plan to set itself on a viable path and pay back the Government investment.

      Capital

      AIB declined to comment, other than to say: "As we've said before, we'll be examining all our assets."

      It is widely understood that AIB's 23.9pc stake in US associated M&T Bank and its 70.2pc-owned Polish unit Bank Zachodni WBK will be sold either under the direction of Brussels -- or as the group sets out on its own course to raise much-needed capital.

      Analysts estimate AIB could generate at least €2.5bn of capital from the sale of its two main foreign assets. But it would need to raise a further €2bn -- either from investors, or from a conversion of the Government's preference share investment into ordinary shares -- to leave it with an 8pc equity tier one capital ratio.

      The perceived strength of Goodbody's counterpart standing, as part of the state-guaranteed AIB group, has helped it snap up a number of corporate broker mandates over the past year, including Greencore, FBD, DCC, United Drug and Origin Enterprises.

      But it stands alone among its main rivals, such as Davy and NCB, in not unveiling a voluntary redundancy scheme as a result of the downturn in recent years.

      Goodbody's top brass, headed by managing director Roy Barrett, is understood to have broached AIB about the possibility of conducting a management buyout (MBO) of the broker in late 2006, following a €350m MBO deal at Davy from Bank of Ireland. AIB ruled out such a move at the time.

      It is not known whether the broker's management would be interested in mounting an MBO bid in the event that the firm is put up for sale.

      - Joe Brennan

      Irish Independent


      http://www.independent.ie/business/irish/goodbody-may-be-sol…
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      schrieb am 18.01.10 08:41:39
      Beitrag Nr. 92 ()
      The Irish Times - Saturday, January 16, 2010
      AIB legal action to seize control of more Zoe firms



      SIMON CARSWELL

      ANALYSIS: ALLIED IRISH Banks (AIB), the biggest lender to Liam Carroll’s property development business, is owed more than €550 million by his Zoe Group of companies but the debts are protected by one of the lowest forms of loan security.

      The bank will ask the Commercial Court on Monday to accept legal proceedings against five Zoe Group firms for a later hearing in what is essentially a bid by AIB to bolster the security on its debts, further protecting its interests.

      The purpose of AIB’s actions is to secure a better form of security for the loan facility of more than €550 million by securing “well-charging orders” from the court, confirming the bank’s interest in the group’s lands and buildings.

      As it stands, the loans are secured on equitable mortgages by way of letters of undertakings from the companies’ solicitor – Cathal N Young of Dublin law firm O’Reilly & Co – or title deeds held by the bank for properties owned by the companies.

      Equitable mortgages are regarded as among the weakest forms of security when it comes to a bank protecting its loans.

      As part of AIB’s legal actions, the bank is also seeking to appoint a receiver to seize control of various properties, putting the bank in a position to manage rents from the buildings to service the substantial loans owing by the group.Mr Carroll’s Zoe Group collapsed last year after it failed to secure court protection from debts of more than €1.3 billion.

      The bank is seeking to enter proceedings against five Zoe Group companies before Mr Justice Peter Kelly in the Commercial Court.

      Given that the Zoe Group owes a further €750 million to seven other banks, improving the security on the loans may protect AIB’s interest ahead of other lenders.Banks normally seek declarations that loans are “well charged” on assets in enforcement cases.

      The companies being sued are the largest developments firms in the Zoe Group – Danninger, Eppo Developments, Fabrizia Developments, Oze Construction and North Quay Investments.

      The bank has already appointed a receiver, Billy O’Riordan of PricewaterhouseCoopers, to Zoe Group companies.

      AIB’s action, if successful, will allow the bank to seize control of more Zoe properties.

      Among the properties at the centre of the case are buildings on Barrow Street in Dublin 4, Loreto Abbey in Rathfarnham, the Island in Chapelizod, the Barley House in Cork Street and properties on South Lotts Road and Charlotte Quay in the Dublin docklands.

      http://www.irishtimes.com/newspaper/finance/2010/0116/122426…
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      schrieb am 18.01.10 08:43:12
      Beitrag Nr. 93 ()
      The Irish Times - Saturday, January 16, 2010
      DDDA seeks security for costs of legal action from McNamara company



      MARY CAROLAN

      THE DUBLIN Docklands Development Authority (DDDA) has brought a preliminary application aimed at having developer Bernard McNamara’s company, Donatex Ltd, provide security for the costs of their legal action alleging the authority exposed them to claims of more than €108 million over the purchase of the Irish Glass Bottle (IGB) site at Ringsend in Dublin.

      The motion for security of costs was mentioned yesterday before Mr Justice Peter Kelly, who listed it for hearing on February 10th.

      The motion was due to have been heard next Monday but the sides have agreed to defer it on terms including requiring Donatex to file a replying affidavit by January 22nd.

      The action against the DDDA has been brought by Mr McNamara and Donatex arising from their involvement in the €412 million purchase of the IGB site.

      Earlier this week, judgment for €62.5 million and €98 million was entered respectively against Mr McNamara and Donatex arising from failure by Donatex to repay loans given to it by private investors for the IGB site acquisition.

      During those proceedings, the court heard neither Mr McNamara nor Donatex could pay the sums sought.

      Mr McNamara and Donatex had last November initiated their action against the DDDA. They claim, because of a High Court finding in 2008 that the DDDA acted outside its powers in how it fast-tracked permission for another docklands development at North Wall Quay, that the DDDA was never entitled to enter in November 2006 into an agreement involving Mr McNamara and developer Derek Quinlan related to development of the IGB site.

      They allege the DDDA was unable to perform its obligations under that IGB agreement and therefore frustrated the ability of Mr McNamara and others to develop the site, meaning substantial losses for them.

      Mr McNamara said he faced potential claims totalling more than €108 million on foot of loans raised from Anglo Irish Bank and private investors with Davy Property Holdings Ltd and on the basis of guarantees given by him related to those loans.

      Mr McNamara claims the Dublin Port Company and South Wharf plc had in September 2006 advertised the IGB site for sale by tender, representing the largest site in Dublin 4 for years to become available for development.

      He claims then DDDA chief executive Paul Maloney approached him a month later about becoming involved with the authority in submitting a bid for the IGB site.

      Mr McNamara claims he initially indicated he was not interested as he believed it would not be possible to generate a profit from the site.

      He alleges Mr Maloney had further meetings with him and made several representations, including that the DDDA could “fast-track” any application for permission for development without the planning risk of third-party observations or appeals to An Bord Pleanála.

      On that basis, he said he would be prepared to consider a joint bid with the DDDA for the site.

      Beebay Ltd was incorporated and used by himself and the DDDA to bid for the IGB site. Mempal Ltd, a company controlled by Derek Quinlan, later acquired an interest in Beebay.

      In November 2006, Donatex held 41 per cent, Mempal 33 per cent and DDDA 26 per cent of Beebay.

      In late January 2007, Beebay’s tender was accepted and it acquired the site for €412 million with funds of some €288 million from Anglo Irish Bank (later converted into a joint facility provided by Anglo and Allied Irish Banks), €57.5 million from Donatex, €32.1 million from the DDDA and €46.3 million from Mempal.

      The funds provided by Donatex were sourced from private clients of Davy and the loan stock instrument was later transferred from Davy Estates Ltd to Jersey-registered Ringsend Property Ltd (RPL), which earlier this week secured summary judgment against Mr McNamara and Donatex on foot of that instrument.

      http://www.irishtimes.com/newspaper/finance/2010/0116/122426…
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      schrieb am 18.01.10 19:47:27
      Beitrag Nr. 94 ()
      irishtimes.com - Last Updated: Monday, January 18, 2010, 15:53
      Zoe loans based on 'fragile' security

      A High Court judge has said it is “astonishing” that unpaid loans of some €544 million from Allied Irish Bank to several companies in developer Liam Carroll’s troubled Zoe Developments group were secured on what he said was generally regarded as a “fairly fragile” form of security.

      Mr Justice Peter Kelly said the security was letters of undertaking from solicitors for the Zoe companies to hold on trust for AIB the title deeds to a large number of properties owned by the defendants. Such form of security was “a far cry from a legal mortgage”, he said.

      AIB now wants to appoint a receiver over those properties in the first stage of a process aimed at recovering the monies owed under a facility agreement of March 2009.

      Dealing yesterday with AIB’s proceedings to appoint William G O’Riordan as receiver and to secure orders aimed at ensuring it has good security over the properties, Mr Justice Kelly said it was “fortunate” for AIB the defendant Zoe companies were acknowledging the intention of the letters of undertaking was to create an equitable mortgage over the relevant properties.

      The judge was, however, told by the liquidator for two other Zoe companies - Vantive Holdings and Morsten Investments, the two key funding companies in the group, - issues may arise if there is a defect in the bank’s security.

      The liquidator is not a party to the case and will have to consider quickly whether to bring an application to be joined to the case as AIB’s application will be heard this Friday.

      The properties are mostly located in Dublin and include both commercial and residential developments.

      In court documents, solicitors for AIB also said other financial institutions had appointed receivers over various other properties owned by Zoe companies.

      The judge told Denis McDonald SC, for AIB, it appeared from court documents AIB had never inspected the title to the properties nor conducted an investigation into title.

      Counsel said the only inspection was as outlined in the affidavits. He said the bank has solicitors’ letters of undertaking and the relevant title deeds had also been deposited with it.

      The bank was only seeking to appoint a receiver at this stage and, given the current state of the property market, would not be seeking to sell properties now.

      The judge made his remarks when admitting to the Commercial Court list the proceedings by AIB against five Zoe companies.


      http://www.irishtimes.com/newspaper/breaking/2010/0118/break…
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      schrieb am 19.01.10 07:27:16
      Beitrag Nr. 95 ()
      The Irish Times - Tuesday, January 19, 2010
      Bank to repossess in €2.2m default



      FIONA GARTLAND

      A CORK property investor who owed €2.2 million to Bank of Ireland had seven orders for property possession granted against him at the High Court yesterday.

      But in a separate case the court refused to grant an order against a farmer who had borrowed €1.5 million from Bank of Scotland Ireland Ltd and had already paid them interest of €1.25 million.

      Mr Justice Brian McGovern granted 12 repossessions in total at the High Court Chancery summonses session including two each to Allied Irish Banks and Secured Property Loans Ltd, and one to Ulster Bank.

      Over 50 cases were adjourned, but due to the large number to be heard in the coming sessions, most cannot be heard again until five or six weeks time.

      Counsel for Bank of Ireland told the court the borrower had taken out a loan for €2.2 million in April 2007 for the purchase of seven separate properties in Cork in areas including Douglas, Monkstown and Father Matthew Quay.

      The loan was due to be repaid over 20 years, initially interest only at €8,325 a month and then interest and capital at €18,800 a month. There had been no repayments since March 2008 and the borrower was now €2.3 million in debt to the bank.

      The court was told some of the properties, a mix of apartments and houses, had tenants in them and some were vacant. The borrower did not appear in court and had sent no legal representative.

      The judge noted the indebtedness was now in excess of the original loan and that the properties were for investment purposes. He granted an order for possession with a stay of three months.

      But the Judge refused to grant an order for possession of a substantial farm in Waterford to Bank of Scotland (Ireland) Ltd.

      The farmer had an overdraft of €1.25 million built up over a number of years and had also borrowed €250,000 to develop sheds on the farm. The interest rate was 7.15 per cent, counsel for the borrower said, and as a result his client had already paid €1.25 million in interest alone. “That’s a fairly hefty rate in this day and age,” Mr Justice McGovern said.

      Counsel told the court his client had sold 130 head of cattle and paid €75,000 from the sale to the bank. He had also promised to pay the proceeds of a compulsory purchase order, from Waterford County Council, valued at €40,000, which was due to go through shortly. And he would give the proceeds of two investments he had made, in Snoasis and Cornerstone Dusseldorf, to the bank once they were realised.

      “What is Snoasis? I hope it’s not a ski resort in Dubai,” the Judge said. “If I was the bank I wouldn’t be over-confident about realising much from that investment.”

      Counsel for the borrower said the investments were valued at €200,000 and €180,000 respectively. There were also other investments he hoped to cash in.

      Mr Justice McGovern said the bank was “in the happy position” of being able to rely on a very favourable interest rate. He did not wish the case to drag on, he said, but would grant an adjournment for one week to allow the borrower pay a lump €50,000 to the bank. He would then consider further adjournments.


      http://www.irishtimes.com/newspaper/ireland/2010/0119/122426…
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      schrieb am 19.01.10 07:32:06
      Beitrag Nr. 96 ()
      The Irish Times - Tuesday, January 19, 2010
      Concern among companies in the North about implications of Nama



      BELFAST BRIEFING: A real worry for many Northern Ireland businesses revolves around future financing, writes FRANCESS McDONNELL

      NORTHERN IRELAND’S tried and tested tea and biscuits approach to doing business may yet hold the key to unlocking what the “Nama effect” will be in the North.

      It is rare for a business meeting of any kind in Northern Ireland to start without refreshments and at the very least a modest plate of biscuits. So it is fair to say senior members from the SDLP and the Institute of Directors (IoD) in the North had certain expectations when they travelled down to meet Brian Lenihan last week in Dublin.

      The Minister for Finance may not have hosted a tea party as such but, according to the SDLP’s deputy leader and South Belfast MP Dr Alastair McDonnell, he definitely served up the right message.

      Dr McDonnell said Lenihan’s “constructive” approach helped provide some reassurance on key issues now facing businesses and the North’s economy in general, not least of which is Nama.

      There is concern among companies in the North about what implication the assets agency may have. Some 35 per cent of business banking in Northern Ireland is controlled by Irish banks and, according to Joanne Stuart, chairwoman of the IoD, there are real anxieties about the fact “both performing and non-performing loans” may be transferred to Nama.

      “There a widespread misunderstanding among some businesses that Nama will deal only with toxic assets. We understand this is not going to be the case and the issue of non-performing and performing loans is one aspect which we need clarification on” Stuart said.

      The SDLP and IoD delegation have asked Lenihan to provide clarification on a number of key issues, aside from the obvious possibility of a firesale of properties in the North.

      “There are important questions for Northern Ireland companies surrounding credit rating if, for example, their loans are transferred. There is also the issue of the business relationship that a company may have developed with a bank. What happens to that if their loan is suddenly transferred to Nama?” Stuart said.

      A real worry for many Northern Ireland businesses revolves around future financing and in particular obtaining or extending loan facilities. Stuart said many firms are struggling to secure the necessary finance to keep their business running.

      The IoD and the SDLP asked the Minister to look at how banks which operate in Northern Ireland and that are now in large part owned by the Irish Government might provide real assistance to firms in the North.

      The decision by Brian Lenihan and his officials to host a meeting with the IoD and the SDLP is an important first step.

      The meeting would not have taken place in the first place if it had not been for the efforts of Dr McDonnell. Dr McDonnell personally believes Northern Ireland is facing a do or die situation in relation to banks. He believes decisions made in Dublin as well as London have a direct impact on the daily lives of everyone living in the North.

      “We’re caught in no man’s land between the Irish and British banking system and we have got to be pro-active. Bank of Ireland and Allied Irish Banks have considerable property assets in Northern Ireland.

      “But it is not just the property equation which is a factor here. If banks retrench back to Dublin or to London for example what impact does that have on our economy? If they only retain large corporate clients and don’t cater for smaller businesses then that has serious implications for the Northern Ireland economy.”


      http://www.irishtimes.com/newspaper/finance/2010/0119/122426…
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      schrieb am 22.01.10 07:59:02
      Beitrag Nr. 97 ()
      AIB announces Government of Ireland Credit Institutions (Eligible Liabilities Guarantee) Scheme 2009
      Marketwire
      January 21, 2010: 06:34 AM ET


      Allied Irish Banks, p.l.c. ("AIB") [NYSE: AIB] announces that the company including its  international branches and subsidiaries, AIB Group (UK) p.l.c., AIB Bank (CI) Limited and Allied Irish Banks North America Inc., have today become participating institutions for the purposes of the Credit Institutions (Eligible Liabilities Guarantee) Scheme 2009. Details and further information of the guarantee scheme are available athtpp://www.finance.gov.ie and htpp://www.ntma.ie


      http://money.cnn.com/news/newsfeeds/articles/marketwire/0579…
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      schrieb am 22.01.10 08:02:41
      Beitrag Nr. 98 ()
      The Irish Times - Wednesday, January 20, 2010
      Regulator will interview bankers for senior roles


      SIMON CARSWELL, Finance Correspondent

      THE FINANCIAL Regulator has begun vetting candidates for top banking jobs in face-to-face interviews in the first change of policy introduced by the new banking watchdog, Matthew Elderfield.

      The Irish Times has learned that Mr Elderfield has instructed regulatory staff to begin holding the interviews, which will last about two hours, from this week as part of regulatory checks on the fitness and probity of prospective candidates to certain senior bank roles.

      Among the issues to be asked of prospective senior bank executives will be the lessons learned from the financial crisis, their views on risk management within banks and their understanding of the regulator’s responsibility.

      The jobs to be subject to interview are key roles such as chief executive; finance director; chief financial officer, chief risk officer and chief operating officer.

      “This is the beginning of a change in approach,” said a source with knowledge of the new policy.

      The regulator will initially only interview select roles focusing on the State’s largest banks, but will eventually widen the process to interview all candidates to be appointed to senior roles, following a review later this year.

      Internal candidates facing promotion to key bank management jobs will also be interviewed.

      Previously, the regulator’s scrutiny of prospective top bankers was a paper-based process involving checks on references from past employers and a questionnaire completed by individuals in the running to become directors or senior managers at the banks.

      The questionnaires, which had to be endorsed by the recruiting financial institution, had to be approved by the regulator before the candidate could start the job.

      Following Mr Elderfield’s changes, the regulator will question prospective senior bankers on their technical qualifications and competence for the specific job.

      The newly appointed special adviser to Mr Elderfield, Con Horan, who was previously prudential director of the regulator, will lead the interviews with the regulatory head responsible for the institution recruiting the candidate.

      Former Ulster Bank executive Michael Feeney, one of the regulator’s internal risk analysts, will also be involved in the interview process, as will risk advisers yet to be appointed by the regulator.

      Mr Elderfield, the former banking regulator in Bermuda, took over as head of the financial regulation earlier this month. He will report directly to Central Bank governor Dr Patrick Honohan in the new Central Bank Commission, which will re-merge the bank and regulator under legislation to be introduced by the Government over the coming months.

      A number of key senior executive roles within the Government-guaranteed financial institutions have yet to be filled. Allied Irish Banks (AIB) has said that it is seeking to appoint an external finance director and chief risk officer.

      The bank declined to comment on how its recruitment process was progressing. The Educational Building Society (EBS) has yet to fill the post of finance director, a position which has been vacant since June.

      http://www.irishtimes.com/newspaper/finance/2010/0120/122426…
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      schrieb am 22.01.10 08:04:15
      Beitrag Nr. 99 ()
      The Irish Times - Friday, January 22, 2010
      In Short


      A round-up of today's business news in brief

      B of I raises €2.5bn in bonds

      Bank of Ireland has raised 2.5 billion on a five-year State-guaranteed benchmark bond, making it the second financial institution to borrow on the back of the extended State bank guarantee scheme.

      The bank borrowed the money on the public bond at 1.45 per cent over the midswaps rate, the European reference point for pricing debt, during a volatile week in the debt markets. The bank received orders of 3.3 billion on the debt-raising, which closed yesterday. The lender is the first institution to raise a euro bond under the extended guarantee, which was introduced at the start of December. Irish Life Permanent raised $1.75 billion (€1.24 billion) this month on the sale of a three-year dollar bond.

      Allied Irish Banks (AIB) has become the third financial institution to be approved by the Government to raise money under the guarantee scheme.

      60% have lost jobs in architectural firms

      As many as 60 per cent of employees at architectural practices in Ireland have lost their jobs over the past two years, according to a new survey undertaken by the recruitment firm Hays.

      In Dublin, the figure is slightly higher with 61 per cent of staff made redundant since the end of 2007.

      The Architecture in Ireland Employment report, which surveyed 178 practices at the end of last year, shows that almost one-third of architectural firms have laid off between 61 per cent and 100 per cent of their employees.

      Just 16 per cent of companies surveyed for the report did not cut jobs over the two-year period

      Oracle gets approval for takeover of Sun

      Oracle won unconditional EU approval yesterday for its $7 billion takeover of Sun Microsystems, a month after offering public pledges to soothe regulatory concerns.

      The acquisition will reshape the high-tech landscape, with Oracle, the world’s number two business software-maker, moving into the hardware business. Sun is the top player in the $17 billion high-end computer-server market.

      Oracle promised in December to keep the market open for others to make storage engine software for Sun’s MySQL database and to boost investment in the unit after the European Commission launched an investigation into the deal. – (Reuters)

      Luxel Biosciences secures €2.5m

      Cork-based company Luxcel Biosciences has received investment of €2.5 million from the Nasdaq-listed company MOCON, after it formed an alliance with the Minneapolis, US-based firm.

      Luxcel Biosciences, a producer of luminescence-based gas and pH sensors, plans to expand into new markets as a result of the support from MOCON, which produces gas-sensing technology and package testing for the food, beverage and pharmaceutical industries. Luxcel is also embarking on a new research and development (RD) investment programme.

      Kindle owners will be able to use games

      Owners of Amazon’s Kindle electronic reader will soon be able to purchase games and other applications for the device.

      The company said yesterday it is to release a development kit access to programming interfaces, tools and documentation to build active content for the Kindle.

      Among those lined up to develop apps are Electronic Arts, which already distributes popular mobile games such as Tetris and Scrabble via the iPhone and other devices.

      The move is seen by analysts as a bid to fend off competition from Apple.


      http://www.irishtimes.com/newspaper/finance/2010/0122/122426…
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      schrieb am 22.01.10 20:50:57
      Beitrag Nr. 100 ()
      Receivership for Zoe properties

      irishtimes.com - Last Updated: Friday, January 22, 2010, 16:45

      MARY CAROLAN

      Allied Irish Bank has secured appointing a receiver over a large number of properties owned by companies in the insolvent Zoe Developments group as part of its effort to recover loans of over €550 million.



      Receiver William G O’Riordan will have the power to effectively act as a landlord of the properties, manage the companies’ interest in them, receive rents and enter leases, Mr Justice Peter Kelly directed in the Commercial Court.

      The receiver was not entitled, at this stage, to enter into possession of or to sell the properties, he added.

      AIB had already, in his view “wisely”, said it would not be seeking to sell properties given the current “wretched” state of the property market, he noted.

      The judge appointed the receiver after making orders the €554 million loans are “well-charged” over the various properties via equitable mortgages created on the basis of undertakings by solicitors for the Zoe companies to hold the title deeds of the properties in trust for AIB. All title deeds have been lodged with the bank.

      While this was “an unusual security given the extraordinary amount of money loaned”, it was additional to other securities, the judge said. There had been an intention to create legal mortgages which had not proven possible, he noted.

      However, the bank was prepared to make the loans available under this arrangement which, while less satisfactory than a legal mortgage, was not devoid of legal effect provided the title to the properties was good.

      The letters of undertaking had charged the companies title to the properties in favour of the bank and, in all the circumstances, AIB was entitled to the well-charging orders, Mr Justice Kelly ruled.

      He also rejected suggestions by the official liquidator of two other companies in the Zoe group, Vantive Holdings and Morsten Investments, that the receiver is not entitled to receive rents purely for the benefit of AIB alone and not all other creditors.

      He further directed that issues relating to an Ulster Bank charge over a property owned by Fabrizia be clarified in an affidavit. Denis McDonald SC, for AIB, said he understood that charge did not related to the properties over which AIB held security but would provide an affidavit in that regard.

      AIB had brought its action against five Zoe companies - Danninger, Eppo Developments, Fabrizia Developments, Oze Construction and North Quay Investments Ltd.

      Bernard Dunleavy, for the companies, indicated earlier this week they would not be opposing the making of the well-charging orders or the appointment of a receiver.
      Avatar
      schrieb am 23.01.10 07:49:34
      Beitrag Nr. 101 ()
      The Irish Times - Saturday, January 23, 2010
      Listen up: we need to protect whistle-blowers

      Given the immense social, economic and personal damage caused by scandals within Irish institutions, the reluctance to provide legal protection to whistle-blowers is extraordinary, writes FINTAN O'TOOLE

      JUST THREE years ago, in early 2007, the then minister for finance Brian Cowen asked the Company Law Review Group to consider whether Irish law should protect those who blow the whistle on wrongdoing in banks and other corporations. The idea was strongly supported in submissions by the director of corporate enforcement, Paul Appleby, and by the Irish Congress of Trade Unions. Most countries with similar legal traditions to Ireland’s (including the UK, the US and Australia) already have laws to protect whistle-blowers.

      Even in 2007, it was obvious that malpractice was relatively common in areas of Irish business, and particularly in banking, with the industry-wide Dirt scandal, the Ansbacher Cayman scam and large-scale misbehaviour at Allied Irish Bank and National Irish Bank. Yet, the Company Law Review Group completely dismissed the idea of giving legal protection to those who draw attention to wrongdoing within their companies. “One cannot say,” it pronounced, “that there is any evidence of endemic failure in relation to corporate governance or its enforcement in Ireland that negatively affects the investment climate and which requires enhanced ‘whistle-blowing’ provisions.” Protecting those who expose wrongdoing would pose a “risk of negative connotations attaching internationally to the heretofore positively perceived Irish business sector” and “Ireland’s reputation as a lightly regulated economy could suffer”.

      Behind that lofty conclusion was the idea that it is whistle-blowers, and not the conduct they expose, that damages Ireland’s reputation. This is a perfect reflection of the response of so many Irish institutions to those who draw attention to corrupt, depraved or reckless behaviour. It is not just the Irish Catholic hierarchy that preferred to maintain its authority, assets and reputation rather than confront gross wrongdoing within its own structures. From banks such as AIB to State institutions such as the Army and sports organisations such as the Irish Swimming Association, the instinctive response has often been to blame and isolate the person who tries to shout “stop”. Whistle-blower is regarded as a synonym for troublemaker.

      In 2001, for example, Eugene McErlean was head of group internal audit at AIB. Looking at the fees levied by branches across the State, he discovered that there was a major problem of overcharging. His rough calculation was that the bank may have wrongly taken up to €75 million of customers’ money.

      He was ultimately proven to be right – AIB eventually admitted to overcharging of €64 million.

      Eugene McErlean says he had no intention of becoming a whistle-blower and that he is “embarrassed” to be considered in the same company as the victims of sexual abuse who broke the silence within the Catholic Church or the swimming association. “I was just doing my job as an auditor. There was no big deal. I was obliged to report my findings both to the bank and to the Financial Regulator.”

      INSTEAD OF BEING congratulated for doing his job properly, however, McErlean was fired by AIB. His departure was announced at the same time as the bank revealed the huge fraud carried out by John Rusnak in its subsidiary in Maryland, giving the false impression that the two events were somehow connected. Equally, when the overcharging scandal eventually became public in 2004, the bank blamed its internal control procedures, hinting that McErlean, the very person who had discovered and tried to deal with the problem, was responsible for it.

      McErlean got no help from the Financial Regulator. When he initially reported his findings, the regulator seemed to be taking them very seriously. When he returned for a second meeting, however, he was, he says, curtly told that he should withdraw his allegations. (Officials from the Financial Regulator denied last year that this had happened.) Having signed a confidentiality agreement with the bank, McErlean was effectively silenced, and the regulator did nothing until the scandal was uncovered as a result of information from a different source in 2004.

      The whole saga, McErlean says, “took a very heavy toll on my family and myself, particularly in the simple fact of not having a job. I had some very down days, but I grew up in Belfast in the 1970s so I suppose I have some resilience.”

      People like Eugene McErlean, and his predecessor at AIB, Tony Spollen, who had similar experiences when he uncovered the Dirt tax fraud, should be cherished and protected. So should those like Gary O’Toole, his parents Aidan and Kay, Bart Nolan and Carole Walsh, who withstood a great deal of personal vilification to expose the activities of paedophiles at high levels within Irish swimming. Instead, however, the legal regime tends to leave them isolated, vulnerable and prey to reprisals and the impugning of their motives.

      Given the immense social, economic and personal damage caused by the covering-up of crimes by Irish institutions, the reluctance to provide systematic protection to such whistle-blowers is extraordinary. The Labour Party introduced a bill in 1999 and the Fianna Fáil/PD government promised to enact its own legislation. Nothing happened until 2006, when the government abandoned this commitment because of unspecified “legal complexities”. Instead the official approach has been to have some whistle-blower protection stitched in to some pieces of legislation. The result has been a confused and wholly inadequate regime, in which some areas, such as child abuse or breaches of competition law, afford some protection, and others, such as banking and company law, afford none. The code of standards for civil servants says nothing about whistle-blowing or about any obligation to bring serious misconduct to attention. There are also serious criminal penalties imposed in the Health Act of 2007 to anyone who makes an allegation about misconduct that they “ought to know” to be false – a formula so vague that it could act as a general deterrent against speaking out.

      IN A REPORT published this week, the Irish branch of the anti-corruption organisation Transparency International called for legislation modelled on what it says is the simplest and best operating anywhere, the UK’s Public Interest Disclosure Act. A mere nine pages long, it covers both the public and private sectors, gives anyone who reports wrongdoing in good faith the right to anonymity, and protects them against reprisals and legal action.

      While the Government insists that a single, coherent piece of legislation to protect whistle-blowers would be too “complex and cumbersome”, a simple, comprehensive and easily understood regime is in place just across the Border. The only reason for not following suit is the apparent belief that the Republic is too scandal-free and ethically sound to have need of those who take their own consciences seriously.

      Speaking up: Five who demanded to be heard

      TOM CLONAN

      Clonan, now security analyst for The Irish Times and a college lecturer, was a captain in the Army when he undertook research for a PhD on the experiences of women in the defence forces. He unexpectedly discovered very high levels of sexual harassment and bullying. The reaction of the military authorities was an entirely false allegation that he had fabricated his research, threatening his new career as an academic.

      GARY O’TOOLE

      O’Toole, probably the most accomplished swimmer Ireland has ever produced, essentially had to sacrifice his own swimming career to bring to light the abuse of other swimmers by the national coach, George Gibney. The Irish Amateur Swimming Association did not respond to his letters of complaint in 1992, and remained in denial about widespread sexual abuse until three senior coaches were convicted in the courts.

      ‘ANN’

      Still anonymous, “Ann” was the midwife at Our Lady of Lourdes hospital in Drogheda, Co Louth, who broke the silence around the mutilation of dozens of women through unnecessary hysterectomies by rogue obstetrician Michael Neary. In her report, Justice Maureen Harding Clarke noted that “no one saw anything out of the ordinary, no one heard even a whisper of disquiet, and no one was given any reason to say or think that any of the hysterectomies were questionable”. After complaining, she faced hostility from much of the medical profession. It took seven years, from 1998 when she first spoke up, for Neary to be struck off by the Medical Council.

      BERNADETTE SULLIVAN

      Surgeon Michael Shine was able to sexually abuse patients at Our Lady of Lourdes for up to 30 years. The Minister for Health, Mary Harney, told the Dáil that it was “incredible” that no doctor had tried to stop him. Sullivan, a nurse, was the first to listen to and support the victims, though she claimed that many GPs and mental health professionals had been told about the abuse.

      TONY SPOLLEN

      Spollen, the internal auditor for AIB, discovered in 1991 that the bank was operating bogus non-resident accounts to help clients evade Dirt tax. He insisted the bank thus had a liability to the Revenue of £100 million. He told the Public Accounts Committee inquiry he was “painted by some as somebody who is a disgruntled guy, a chip on his shoulder . . . who was out to cause trouble.” His conclusions were entirely vindicated in the PAC report.

      http://www.irishtimes.com/newspaper/weekend/2010/0123/122426…
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      schrieb am 23.01.10 07:52:00
      Beitrag Nr. 102 ()
      irishtimes.com - Last Updated: Friday, January 22, 2010, 16:45
      Receivership for Zoe properties

      MARY CAROLAN

      Allied Irish Bank has secured appointing a receiver over a large number of properties owned by companies in the insolvent Zoe Developments group as part of its effort to recover loans of over €550 million.



      Receiver William G O’Riordan will have the power to effectively act as a landlord of the properties, manage the companies’ interest in them, receive rents and enter leases, Mr Justice Peter Kelly directed in the Commercial Court.

      The receiver was not entitled, at this stage, to enter into possession of or to sell the properties, he added.

      AIB had already, in his view “wisely”, said it would not be seeking to sell properties given the current “wretched” state of the property market, he noted.

      The judge appointed the receiver after making orders the €554 million loans are “well-charged” over the various properties via equitable mortgages created on the basis of undertakings by solicitors for the Zoe companies to hold the title deeds of the properties in trust for AIB. All title deeds have been lodged with the bank.

      While this was “an unusual security given the extraordinary amount of money loaned”, it was additional to other securities, the judge said. There had been an intention to create legal mortgages which had not proven possible, he noted.

      However, the bank was prepared to make the loans available under this arrangement which, while less satisfactory than a legal mortgage, was not devoid of legal effect provided the title to the properties was good.

      The letters of undertaking had charged the companies title to the properties in favour of the bank and, in all the circumstances, AIB was entitled to the well-charging orders, Mr Justice Kelly ruled.

      He also rejected suggestions by the official liquidator of two other companies in the Zoe group, Vantive Holdings and Morsten Investments, that the receiver is not entitled to receive rents purely for the benefit of AIB alone and not all other creditors.

      He further directed that issues relating to an Ulster Bank charge over a property owned by Fabrizia be clarified in an affidavit. Denis McDonald SC, for AIB, said he understood that charge did not related to the properties over which AIB held security but would provide an affidavit in that regard.

      AIB had brought its action against five Zoe companies - Danninger, Eppo Developments, Fabrizia Developments, Oze Construction and North Quay Investments Ltd.

      Bernard Dunleavy, for the companies, indicated earlier this week they would not be opposing the making of the well-charging orders or the appointment of a receiver.


      http://www.irishtimes.com/newspaper/breaking/2010/0122/break…
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      schrieb am 25.01.10 09:08:24
      Beitrag Nr. 103 ()
      The Irish Times - Monday, January 25, 2010



      Banks' staff guidelines to be reviewed



      SIMON CARSWELL Finance Correspondent

      THE FINANCIAL Regulator is preparing to carry out a review of policies on conflicts of interest across the financial institutions for bank employees who borrow from their own institutions or other lenders and staff who are engaged in business outside the banks.

      The Irish Times has learned that the regulator plans to look at bank guidelines on staff who have directorships of outside companies or shadow directorships where relatives or associates hold the positions on their behalf.

      The review, which will be led by the banking supervision department at the regulator, will also assess the banks’ internal policies on employees who have impaired loans with the financial institutions or with other lenders.

      It is understood that the regulator’s concerns are likely to focus on whether the financial institutions have sufficiently strong controls to monitor conflicts of interest governing bank staff.

      The regulator’s review is expected to look at the banks’ lending policies for all employees and not just for senior management involved in large-scale borrowing outside their bank.

      The regulator will seek to establish that banks have sufficient procedures in place to ensure that conflicts of interest do not arise for staff engaged in business dealings outside their employment at the bank involving loans from that bank or other institutions.

      The review, which is in the planning stages, will cover bank policies on employees at all levels of the financial institutions and will be an industry-wide assessment.

      The regulator’s assessment of banking policies follows the public disclosure in recent months that senior managers at Allied Irish Banks who hold substantial property businesses outside their banking roles have loans from other financial institutions.

      The Irish Times reported last November that Tommy Hopkins, a general manager with AIB commercial banking at AIB Bankcentre in Dublin, and John Hughes, head of business banking at AIB’s Eyre Square branch in Galway, were involved in a number of property and other companies outside their banking work.

      The two men are in business with people who have separate business relationships with AIB.

      Mr Hughes is a director and shareholder of a number of firms that have relationships with banks other than AIB. He has said his external business activities were in compliance with AIB’s code of ethics governing such matters and there was no conflict of interest involved. The two men were the subject of an internal investigation at the bank into their involvement in outside property businesses.

      The regulator has already assessed the disclosure of lending to directors and connected parties across the financial institutions.

      The investigation followed the concealment of loans of up to €122 million at Anglo Irish Bank to former chairman Sean FitzPatrick over an eight-year period with the use of short-term borrowings from Irish Nationwide Building Society.

      The loans are one of a number of matters being investigated by the Garda and the Director of Corporate Enforcement.

      The report on bank lending to directors and connected parties at six domestic institutions, excluding State-owned Anglo Irish Bank, which is the subject of a separate investigation, was published by the regulator in March 2009.

      The regulator found no evidence that the six lenders examined removed or reduced loans to directors at their financial year-ends to avoid disclosure, but they were directed to improve their systems in relation to the preparation of disclosures of directors’ loans.

      The banks were also directed to publish the amount owed by directors at the beginning and end of a financial period and the maximum level of liability during the period.

      Societies reveal bankers’ loans

      EBS AND Irish Nationwide have had to disclose outstanding loans to senior bankers and former senior bankers as part of initial preparatory work carried out in advance of the proposed merger of the two building societies.

      The two institutions have also had to reveal whether the loans are in arrears before they receive up to €2.4 billion in recapitalisation funds from the Government.

      Irish Nationwide is understood to have received queries from the Financial Regulator on the level of borrowing to bankers and former bankers at other institutions.

      The regulator is investigating lending practices at the building society following the disclosure by RTÉ’s Prime Time last month that Fianna Fáil politicians received loans from Irish Nationwide with minimum paperwork involved.

      Accountants PricewaterhouseCoopers (PwC) are conducting a review on behalf of the Government of how much both lenders will require to be recapitalised. The firm has been working on the Government’s bank recapitalisation plan since the height of the financial crisis during the autumn of 2008.

      The Irish Times reported last week that PwC had completed a draft due diligence report on EBS and Irish Nationwide which will form the basis of further merger discussions between the two institutions over the coming months.

      EBS is believed – in preparation for recapitalisation by the State – to have disclosed loans of close to €7 million that former Anglo Irish Bank chairman Seán FitzPatrick drew through the society’s broker subsidiary Haven to buy investment properties in 2008. Simon Carswell


      http://www.irishtimes.com/newspaper/finance/2010/0125/122426…
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      schrieb am 26.01.10 18:42:30
      Beitrag Nr. 104 ()
      AIB part of group facing $300m debt after owners give back US property

      http://www.irishtimes.com/newspaper/finance/2010/0126/122426…
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      schrieb am 26.01.10 18:49:30
      Beitrag Nr. 105 ()
      The Irish Times - Tuesday, January 26, 2010
      In short

      A roundup of today's other business news in brief

      Success of Greek bond issue eases foreign concerns


      International alarm over Greece’s debt crisis abated yesterday when investors flocked to buy the government’s first bond issue of the year, an indication that it may run into less trouble than expected in meeting its short-term financing needs.

      Investors placed about €20 billion in orders for the five-year, fixed-rate bond, four times more than the government had reckoned on. However, in a sign that Greece is being made to pay for years of fiscal profligacy, the bond carried a record high interest rate spread relative to the rate for German bonds, the euro zone’s benchmark.

      The bonds will be priced to yield 350 basis points more than the benchmark mid-swap rate, one banker said.

      Greece needs €53 billion to fund its debt requirements this year, a task that may prove harder than raising last year’s sum of more than €60 billion if, as some investors suspect, global financing conditions tighten in the course of 2010.

      Software firm to create 14 jobs in Hertz deal

      A Kerry-based company has signed a deal with car rental firm Hertz that will create new jobs in Ireland.

      Monex Financial Services, which is based in Killarney, will provide its multi-currency treasury management software systems to Hertz in Europe to allow customers to convert their credit card transactions into their own currency when they pay.

      The deal will add an extra €1.5 billion in turnover to the more than €8 billion Monex processes on behalf of clients. A total of 14 jobs will be created in Ireland and other countries for the duration of the contract.

      Ericsson to cut more jobs as sales fall

      Spending cuts by telecom operators hurt quarterly sales at mobile network maker Ericsson more than expected but cost measures eased the pain from a market stalled by recession, it said yesterday.

      The company also said it will cut about 6,500 jobs, up from a target of 5,000 announced last year.

      Last February, Ericsson, which has operations in Ireland, said it would cut 300 jobs at its research and development section in Clonskeagh, Dublin. At the time, there were 1,700 people employed at its facilities in Clonskeagh, Dún Laoghaire and Athlone, Co Westmeath. The job losses were set to be phased in over 18 months.

      Liberty Global to sell stake in Jupiter

      Liberty Global is to sell its 37.8 per cent stake in Japanese TV cable operator Jupiter for 361.66 billion yen (€2.83 billion). Mobile-phone operator KDDI is paying about 140,000 yen for each Jupiter share, 44 per cent more than its closing price yesterday. - (Reuters)

      AIB’s Polish unit may pay dividend

      Bank Zachodni WBK, the Polish unit of Allied Irish Banks, is considering paying out a dividend from 2009 profit, media reports yesterday cited chief executive Mateusz Morawiecki as saying.

      However, any dividend would not be high, Mr Morawiecki said.

      Cryptologic licenses 10 games to Bet24

      Dublin-based online casino gaming specialist Cryptologic has signed an agreement to license at least 10 of its popular betting games to Scandinavian internet gaming firm Bet24.

      The agreement will see Cryptologic earn recurring revenues from wagers placed by Bet24 customers on some of Cryptologic’s top slot games. Two games have already gone live on the website, with the remainder expected to launch throughout 2010.

      Ferrero rules out rival bid for Cadbury

      Italy’s Ferrero has ruled out a rival bid for Cadbury, clearing the way for Kraft Foods to complete its £11.7 billion proposed takeover of the British confectioner.

      Fellow chocolate maker Hershey said last Friday it had no intention of bidding for Cadbury, so Kraft appears on course to complete its bid by the deadline of February 2nd.

      Last week Kraft agreed a cash and shares deal that at the time valued Cadbury shares at 840 pence. – (Reuters)
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      schrieb am 28.01.10 08:02:05
      Beitrag Nr. 106 ()
      Jan. 26, 2010, 8:31 a.m. EST · Recommend · Post:
      S&P cuts ratings on Irish banks
      Explore related topics
      Banks Governor and Co of the Bank of Ireland (The) Allied Irish Banks PLC



      LONDON (MarketWatch) -- Standard & Poor's Ratings Services on Tuesday cut its long- and short-term counterparty credit ratings for Bank of Ireland /quotes/comstock/13*!ire/quotes/nls/ire (IRE 7.54, -0.24, -3.08%) and Allied Irish Banks /quotes/comstock/13*!aib/quotes/nls/aib (AIB 3.52, -0.15, -4.09%) to A-. The rating agency also revised downward its Banking Industry Country Risk Assessment for Ireland to group 4 from group 3. The BICRA ranking reflects the agency's view on both economic and industry risk in Ireland and puts the country in the same risk group as Korea, the Czech Republic and Slovakia. S&P said it expects that sustained high credit losses, combined with weak pre-provision income will continue to pressure AIB's financial profit in the coming two years. The agency also said it expects the Irish government will remain highly supportive of both AIB and Bank of Ireland and removed the negative rating outlook for the pair. S&P also cut its ratings on Anglo Irish Bank and Ulster Bank.


      http://www.marketwatch.com/story/sp-cuts-ratings-on-irish-ba…
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      schrieb am 28.01.10 08:06:28
      Beitrag Nr. 107 ()
      Hier die Ratings anderer Analysten:

      15.01.2010 09:40
      Morgan Stanley startet Allied Irish Banks mit 'Overweight'

      Morgan Stanley hat Allied Irish Banks (AIB) in einer Ersteinstufung mit "Overweight" und einem Kursziel von 2,40 Euro bewertet. Er sehe den momentanen Kurs eher als einen Optionswert mit Blick auf eine Rekapitalisierung und Erholung des Finanzkonzerns, schrieb Analyst Steven Hayne in einer Branchenstudie vom Freitag. AIB verfüge über mehr strategische Möglichkeiten als der Wettbewerber Bank of Ireland. Angesichts deutlich reduzierter Schulden sowie einer möglichen Kapitalerhöhung erscheine die Bewertung des Titels attraktiver als die vieler europäischer Bank-Aktien.

      AFA0004 2010-01-15/09:39





      02.12.2009 12:35
      Goldman Sachs senkt Ziel für Allied Irish Bank auf 1,80 Euro - 'Neutral'

      Goldman Sachs hat das Kursziel für die Aktien von Allied Irish Bank von 2,57 auf 1,80 Euro gesenkt, aber die Einstufung auf "Neutral" belassen. Um wieder überlebensfähig zu werden, müssten die irischen Finanzinstitute ihre Kapitalbasis stärken ihre Kundeneinlagen erhöhen und sich gesundschrumpfen, schrieb Analyst Pawel Dziedzic in einer Branchenstudie am Mittwoch. Dieser Prozess könnte zwar Jahre dauern, die Grundlagen hierfür würden jedoch in den kommenden zwölf Monaten gelegt. Allied Irish benötige besonders viel frisches Kapital. Dieser Bedarf könne durch Anteilsverkäufe nur teilweise gedeckt werden.

      AFA0030 2009-12-02/12:34


      20.01.2010 16:11
      UBS hebt Allied Irish Bank auf 'Neutral' - Ziel runter auf 1,55 Euro

      Die UBS hat Allied Irish Bank (AIB) von "Sell" auf "Neutral" angehoben, das Kursziel jedoch von 1,70 auf 1,55 Euro gesenkt. Analyst Alastair Ryan passte in einer Studie vom Mittwoch seine Schätzungen nach den Veröffentlichungen der irischen "Bad Bank Agentur" NAMA an. Der Kursrückgang von 45 Prozent in den vergangenen drei Monaten reflektiere das Risiko in ausreichendem Maße.

      AFA0083 2010-01-20/16:10

      02.12.2009 16:02
      Nomura senkt Allied Irish Banks auf 'Neutral' - Ziel 2,40 Euro

      Nomura hat Allied Irish Banks von "Buy" auf "Neutral" abgestuft und das Kursziel von 3,80 auf 2,40 Euro reduziert. Analyst Raul Sinha senkte in einer Branchen-Studie vom Mittwoch die Einstufung, da seiner Meinung nach die Eigenkapitalanforderung für die Bank ansteigt. Ohne Kapitalerhöhung dürfte die Kernkapitalquote (Tier-1) sinken.

      AFA0087 2009-12-02/16:01


      http://www.finanznachrichten.de/nachrichten-aktien/allied-ir…
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      schrieb am 29.01.10 09:16:31
      Beitrag Nr. 108 ()
      Allied Irish Banks, plc Prices EUR1.5 Billion 2013 Bond At 99.739-DJ
      Thursday, 28 Jan 2010 12:36pm EST

      Dow Jones reported that Allied Irish Banks, plc has priced its EUR1.5 billion government guaranteed bond via lead managers BNP Paribas SA, Deutsche Bank AG, DZ Bank and JP Morgan Chase & Co. This bond will mature on February 4, 2013 and the payment date will be February 4, 2010.


      http://www.reuters.com/finance/stocks/keyDevelopments?rpc=66…
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      schrieb am 02.02.10 16:43:10
      Beitrag Nr. 109 ()
      AIB, ING Direct, G4S Cash Services Join The Payments Council
      Published: 02-Feb-2010
      Allied Irish Bank Group (UK), ING Direct and G4S Cash Services have joined as full members of The Payments Council, along with Consult Hyperion and Barron McCann Technology which will become associate members with immediate effect.

      The addition of the five new firms brings total membership to 28 and associate membership to 11.

      Paul Smee, CEO of the Payments Council, said: “The Payments Council is always delighted to welcome new members. Our diverse membership - which comprises an ever increasing and wide range of payment service providers, as well as independent directors - enables us to ensure that the payment system as a whole meets the needs of payment service providers, users and the wider economy.

      “We look forward to working closely with our newest members as we continue to work through the National Payments Plan – our landmark publication which sets out our 10-year vision for UK payments, with the view to ensuring that payments are efficient, innovative and robust.”

      The Payments Council is the organisation that sets strategy for UK payments. It has been established to ensure that UK payment systems and services meet the need of users, payment service providers and the wider economy.

      AIB Group (UK) is a division of AIB Group, registered in the UK and regulated by the Financial Services Authority.

      ING Direct is a UK-based direct savings bank with over 1.4 million customers. It provides a range of savings, mortgage and home insurance products.

      A subsidiary of G4S plc, G4S Cash Services is the UK-based provider of cash solutions, including secure cash transportation, ATM outsourcing solutions and outsourced till management.

      UK-based Barron McCann Technology is a provider of information security, IT services and secure payment systems.

      Consult Hyperion is an independent IT consultancy with over two decades of experience in advising government, financial organisations, telecoms operators and their suppliers how to use new technology for payments, identity management, ticketing and other electronic transactions services.


      http://payments.banking-business-review.com/news/aib_ing_dir…
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      schrieb am 09.02.10 08:10:13
      Beitrag Nr. 110 ()
      The Irish Times - Friday, February 5, 2010
      AIB and BoI may need total capital of €6.3bn, predicts Davy
      In this section »



      SIMON CARSWELL Finance Correspondent

      ALLIED IRISH Banks (AIB) and Bank of Ireland will need €4.1 billion and €2.2 billion respectively to bolster their capital reserves by the end of the year and early next year, stockbroking firm Davy has estimated in a report.

      Davy is forecasting cumulative loan losses of €14 billion at AIB and €10 billion at Bank of Ireland – equal to 12 per cent and 8 per cent respectively of loans, higher than other European banks.

      In a report on the scenarios facing the two banks, analysts Emer Lang and Stephen Lyons maintain their most recent estimates for the discounts on the banks’ Nama loans at 27 per cent for Bank of Ireland and 35 per cent for AIB.

      The analysts estimate Bank of Ireland can raise the €2.2 billion in capital required to reach an equity ratio of 6 per cent by raising about €1 billion from restructuring its debts and a further €1.2 billion by tapping investors in a rights issue.

      AIB can reach the same equity ratio by raising €3.1 billion through a rights issue, restructuring debts bringing a €200 million gain and by selling the bank’s 23 per cent stake in US bank MT for €830 million at current prices.

      Davy expects the Government to take a direct stake of 14.8 per cent in Bank of Ireland and 8 per cent in AIB as the banks will pay down only some of the State’s preference shares after the rights issues. The State’s stakes would rise to 72 per cent at Bank of Ireland and 75 per cent at AIB if they failed to raise private cash.

      Ms Lang said Bank of Ireland has “a fighting chance” to raise up to €1.3 billion from a rights issue underwritten by the Government in the second quarter of this year.

      Uncertainties surrounding the loan discounts and transfers to the Nama and the European Commission’s response to the banks’ restructuring plans needed to be resolved before investors could be approached for capital, she said.

      “Investors are on the sidelines. There are lots of uncertainties but hopefully they will be resolved in the not too distant future.”

      Most analysts believe banks will have to reach a 8 per cent equity ratio – a closely watched measure of a bank’s ability to absorb losses.

      For every percentage increase in the ratio, AIB and Bank of Ireland would each require an extra €1 billion, said Ms Lang, but that the 8 per cent ratio will only need be reached over time as it would otherwise affect the flow of credit.

      Davy says Bank of Ireland’s stock could be worth 48 per cent more, while AIB’s shares could be 63 per cent higher if they can raise outside capital.
      Avatar
      schrieb am 09.02.10 08:11:24
      Beitrag Nr. 111 ()
      irishtimes.com - Last Updated: Monday, February 8, 2010, 14:46
      AIB admits overcharging error


      EOIN BURKE-KENNEDY

      Allied Irish Banks is to refund more than €4 million to an estimated 40,000 account holders who were incorrectly charged.

      The bank said the error arose in relation to the classification of some customers’ accounts, and the average refund is expected to be €100.

      In a statement today, AIB said part of its account classification process had been found to be "vulnerable" in some cases, resulting in accounts being mistakenly entered into the wrong category.

      This meant that some personal accounts had been classified as business and some business accounts as personal.

      AIB admitted the problem may have arisen over a number of years, and could have resulted in incorrect fees, charges and interest payments being applied to customer accounts.

      The bank informed the Financial Regulator in November 2008 when the issue was first identified but has only recently begun writing to affected customers to inform of the overcharging.

      It said today a process is underway to identify the accounts which had been affected and to ensure that account holders are fully reimbursed where appropriate by March 31st next year.

      The bank said it will have contacted all impacted customers by the end of the year to make them aware of the issue and to apologise.

      It also said that any customer who has been overcharged as a result of being wrongly classified will be fully reimbursed, including compensatory interest.

      The bank said several system changes had been initiated to prevent a reoccurrence of the problem. But until the process is complete, the bank said it was not possible to fully estimate the exact number of accounts affected or the potential refunds.

      The Financial Regulator confirmed today it is continuing to engage with the bank on the matter.

      “AIB has commenced the process of communicating with customers on a phased basis
      advising them of the issue and setting out what is being done to rectify the matter," it said.

      After it was notified of the issue, the regulator requested AIB bring in a third party to oversee the refunding process. "This work is currently being undertaken by KPMG," the regulator said.

      In a separate statement, the head of financial regulation, Matthew Elderfield, said today the watchdog was conducting a review of its approach to how overcharging is dealt with under the Consumer Protection Code.

      “It is clear from recent cases that change is needed in how firms handle charging and pricing issues,” Mr Elderfield said.

      The regulator is concerned that financial institutions continue to experience “control failures” that result in customers being overcharged.

      “While the complexity of cases vary, it is nevertheless disappointing for consumers that resolving errors and providing restitution can be so drawn out at times,” he said.
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      schrieb am 09.02.10 08:13:15
      Beitrag Nr. 112 ()
      ESB man is AIB chief financial officer
      The Irish Times - Tuesday, February 9, 2010


      SIMON CARSWELL Finance Correspondent

      ALLIED IRISH Banks (AIB) has named Bernard Byrne, a senior executive at the ESB, as chief financial officer in the first external appointment to the bank’s executive management team since the onset of the financial crisis.

      Mr Byrne, who is currently group financial and commercial director at the EBS, will take up his new role in May, joining AIB’s group executive committee.

      The bank agreed to appoint an outsider as chief financial officer following criticism of the appointment of internal candidate Colm Doherty, who was head of the bank’s capital markets division, as managing director last November.

      Mr Byrne started his career with PricewaterhouseCoopers in 1988 and joined ESB International in 1994 as commercial director before leaving in 1998 to become finance director with household goods firm, IWP International.

      He rejoined the ESB in 2004 as finance director and took up his current role at the semi-state company last year.

      Mr Byrne’s appointment highlights the bank’s focus on its 70 per cent stake in Polish lender Bank Zachodni and 23 per cent stake in US bank MT, both of which have been suggested as possible disposals to generate capital.

      He has international experience working in the financial management of businesses in Britain, Poland and the US where AIB has significant interests.

      “His familiarity with our areas of operation coupled with the external perspective he brings to the role will be a major asset to the group as we position ourselves for the future,” said Mr Doherty.

      AIB has said an external candidate will also shortly be appointed to the role of chief risk officer.

      The job of chief financial officer will be retained on an acting basis until May by Maeliosa Ó hOgartaigh, who has filled the role since the departure of finance director John O’Donnell last August.

      Mr Ó hOgartaigh was last week appointed head of corporate development in a reshuffle of AIB’s senior management team.

      An AIB spokeswoman said Mr Byrne’s pay would be within the Government guidelines on bank pay, capped at €500,000 a year.

      Mr Byrne told The Irish Times that banking continued to be “volatile” but that there were plenty of opportunities with the changes required in the industry. “It is an exciting opportunity and not without its challenges,” he said.

      He was one of the first candidates to be interviewed by the Financial Regulator under its new vetting process to assess applicants for senior banking jobs.




      http://www.irishtimes.com/newspaper/finance/2010/0209/122426…
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      schrieb am 10.02.10 12:05:17
      Beitrag Nr. 113 ()
      Goldman Sachs aktuelle Einschätzung zu AIB:

      Goldman Sachs cuts Allied Irish Banks price target to 1.5 EUR from
      1.8 EUR; rating neutral

      http://www.iii.co.uk/investment/detail/?display=news&code=co…
      Avatar
      schrieb am 16.02.10 07:49:54
      Beitrag Nr. 114 ()
      The Irish Times - Tuesday, February 16, 2010
      Ireland not like Greece, Lenihan tells EU


      ARTHUR BEESLEY, European Correspondent

      MINISTER FOR Finance Brian Lenihan has made the case to the EU’s new economics commissioner, Olli Rehn, that Ireland is now at a “different stage” to Greece and other weak euro-zone members thanks to stringent austerity measures he has taken.

      Before euro group finance ministers discussed moves to bail out Greece last night, Mr Lenihan said at a meeting with Mr Rehn that he was cautiously optimistic that Ireland was turning the corner with an expansion of the economy in prospect later this year.

      While setting out to Mr Rehn the budgetary measures he has taken since July 2008, the Minister said he still expected the economy to shrink this year by 1.25 per cent.

      He described the decisions he has taken as “difficult, but necessary”, adding that the €4 billion programme of cuts this year, amounting to 2.5 per cent of gross domestic product (GDP), follow cumulative cuts totalling 5 per cent of GDP in 2009.

      Mr Rehn succeeded Joaquin Almunia as economic and monetary affairs commissioner when the new EU executive took office last week. He is now the arbiter of an EU-approved recovery programme that is designed to bring Ireland’s public finances within the parameters of the union’s rulebook by 2014.

      Mr Lenihan also met yesterday with Mr Almunia, who has taken charge of the competition portfolio. In his new job, Mr Almunia has prime responsibility for the EU’s oversight of Nama and the restructuring of the major Irish banks.

      In addition to restructuring plans from Allied Irish Banks and Bank of Ireland – which are likely to lead to major divestments from both institutions – Mr Almunia’s office is also scrutinising a restructuring plan from the nationalised Anglo Irish Bank.

      Mr Lenihan also met the new Irish commissioner Máire Geoghegan-Quinn, their first engagement since she took over the research, science and innovation portfolio.

      The Minister’s spokesman said he told Mr Rehn that Ireland, like all countries, has been carefully watching movements in the international markets. Pressure on the euro led EU leaders to pledge last week to rescue Greece “if needed” following an upsurge of anxiety about the weak fiscal position of Spain and Portugal.

      “Ireland is at a different stage to those countries now attracting the most adverse comment and this has been reflected in the Irish spreads which have remained relatively steady over the recent crisis,” Mr Lenihan told the commissioner. “This reflects that we are already some way down the path of addressing the three main challenges facing us.”

      He said the Government has shown its commitment to continue taking “firm and decisive action” to address the requirement to improve competitiveness; to restore the stability in the public finances; and to address problems in the banking system.

      “There is now a broad consensus that the economy will bottom out by mid-year and that a resumption of positive growth in the second half of this year is in prospect,” he said.

      “Restoring competitiveness is also important,” said Mr Lenihan. “The necessary price and wage competitiveness adjustments are under way and I am encouraged by this.”


      http://www.irishtimes.com/newspaper/finance/2010/0216/122426…
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      schrieb am 24.02.10 07:38:11
      Beitrag Nr. 115 ()
      The Irish Times - Wednesday, February 24, 2010

      Bank of Ireland planning to raise $1bn on two-year bond
      In this section »

      BANK OF Ireland is planning to raise $1 billion (€738 million) on a two-year Government-backed bond, becoming the second Irish lender to tap investors for funding following the Greek debt crisis.

      Orders from investors on the US dollar bond were running at more than $1 billion ahead of the closure of the debt issue late yesterday in New York.

      The bond is priced at about 1.75 per cent above the benchmark midswap rate, the reference point to price debt.

      The managers on the bond sale are Bank of America Merrill Lynch, JP Morgan, Morgan Stanley and Nomura.

      EBS, Bank of Ireland, Allied Irish Banks (AIB) and Irish Life Permanent have raised more than €6 billion under the extended guarantee scheme, which was introduced by the Government last December.

      The scheme allows the institutions to raise funding on bonds maturing in up to five years’ time – beyond the end of the two-year blanket guarantee in September.

      Credit ratings agency Fitch said the expiry of Irish bank guarantees may negatively affect the ratings on some structure finance and covered bonds, but it expects the banks to take remedial action well before the guarantees end.

      Another ratings agency, Moody’s, said the Government’s shareholding in Bank of Ireland may change again as the bank is expected to raise capital “in the near future” following the transfer of loans to the National Asset Management Agency (Nama).

      The issuing of 15.7 per cent of ordinary shares in the bank in lieu of a €250 million cash dividend on Monday would have no impact on the bank’s ratings, Moody’s said.

      Analysts at French bank Société Générale estimated that AIB and Bank of Ireland will require €4.4 billion and €2.7 billion respectively to boost capital ratios.

      The bank said the likelihood of AIB seeking much less than €4.4 billion in a cash call made it a more attractive stock, as the bank could sell its interests in Bank Zachodni in Poland and US bank MT ahead of a rights issue.
      Avatar
      schrieb am 03.03.10 07:17:33
      Beitrag Nr. 116 ()
      The Irish Times - Wednesday, March 3, 2010
      Irish bond issue may surpass €20bn
      In this section »


      IRELAND MAY issue bonds worth more than the €20 billion so far scheduled for this year, but should avoid the temptation to seek too much capital for its banks, the head of the State’s debt agency said yesterday.

      In contrast with fellow euro-zone member Greece, which has €20 billion in debt due by May, Ireland only has about €1 billion in bonds maturing this year and has won praise from markets for its efforts to cut its budget deficit.

      In an interview, the chief executive of the National Treasury Management Agency (NTMA) said he wanted to prepare funding for debt worth up to €6 billion due in 2011. “If the opportunity arises to do more than the €20 billion on good terms, we may issue a little bit more to carry something into next year,” John Corrigan said.

      The NTMA has already raised almost half its annual target in the first two of its monthly bond auctions and one syndicated sale.

      Mr Corrigan said he was considering the possibility of a 30-year bond, which would be arranged through syndication, on top of the remaining scheduled auctions running until November.

      “A 30-year issue is something we are told there is a lot of appetite for,” Mr Corrigan said.

      Ireland is on track to correct its fiscal problems, with another round of tightening to follow in the budget for 2011, Mr Corrigan said, adding it would take until the end of this year to get sufficient clarity on the rescue of Ireland’s banks.

      While Greece has come under pressure for understating the scale of its financial problems, Mr Corrigan said he was more worried about Dublin getting too tough on the banks it is rescuing.

      “The concern is that we get ourselves into too pessimistic mode and end up unnecessarily over-capitalising the banks,” said Mr Corrigan, whose NTMA controls the €3.5 billion of preference shares the Government holds in both Allied Irish Banks and Bank of Ireland. Bond market analysts said that 30-year debt issuances were not uncommon for governments. – (Reuters)
      Avatar
      schrieb am 03.03.10 07:18:34
      Beitrag Nr. 117 ()
      The Irish Times - Wednesday, March 3, 2010
      Bank will proceed on capital-raising before EU's verdict
      Related


      SIMON CARSWELL Finance Correspondent

      AIB RESULTS: THE NEW managing director at Allied Irish Banks (AIB), Colm Doherty, has said he won’t wait for the European Commission to rule on the bank’s restructuring plan before selling assets or taking on a strategic investor in the bank to raise fresh capital.

      Mr Doherty said AIB planned to boost capital in the first instance by selling its overseas businesses before tapping investors for cash in a rights issue of new shares.

      “I know we need capital. We have a number of levers we can pull – we have a number of very valuable assets that people are materially interested in,” he said.

      The bank’s share in US bank MT, in Bank Zachodni in Poland and in its UK business have been earmarked for potential sale.

      “The jewel in the crown is our Poland business,” he said, adding that there were an “inordinate” number of interested suitors.

      Mr Doherty said he didn’t know whether asset sales would raise enough capital, forcing AIB to ask the Government for more cash on top of the €3.5 billion already invested, or whether the State would take a majority stake.

      This would depend on the capital thresholds set by the Central Bank and when they must be met, he said. In the meantime, AIB would proceed with its own capital-raising plan.

      Mr Doherty said the bank would start by swapping debt shortly in a move he expects to generate a gain of some €300-€350 million.

      AIB has held talks with a number of investors interested in taking a “strategic” investment in the bank, he said.

      It was “highly likely” that the Government would take a direct stake in AIB after taking a 16 per cent stake in Bank of Ireland in lieu of a coupon payment on the State’s €3.5 billion indirect stake.

      The EU’s view on the restructuring plan was “a little bit less relevant”, he said, as AIB had to proceed with its own capital-raising.

      “We have to be focused on helping ourselves to raise the capital that we need – everything else, to a degree, is incidental,” he said.

      AIB posted a pretax loss of €2.65 billion for 2009 – its first ever annual loss – after taking a bad debt charge of €5.4 billion, including €3.4 billion on €23 billion in loans moving into Nama.

      Irish land and development loans account for €3.6 billion of the bad debts. Some €11 billion of total impaired loans of €17 billion – an increase from a total of €3 billion a year earlier – related to loans being transferred to Nama.

      Analysts estimate that AIB requires up to €4.4 billion to bolster its capital reserves. “If the number is €4 billion, then we are capable of raising it from private sources,” said Mr Doherty.

      He warned that the bank’s variable interest rates would rise in the “next couple of months”. Retail banking was “dysfunctional”, he said, as institutions were “paying more for the money we borrow than we’re charging our clients – that is unsustainable”.

      Mr Doherty said the bank had reduced its headcount by 1,600 over 15 months to 23,000, including 10,000 in the Republic.

      He would not consider further job cuts until the EU rules on the restructuring plan, he said.

      The banks lending to Greek businessman Achilleas Kallakis, who had been charged with defrauding AIB and Bank of Scotland of up to £61 million on commercial property transactions in London, was “a normal arm’s length commercial transaction, said Mr Doherty. He said that he “wasn’t very happy” with the controls exercised by the bank in relation to Mr Kallakis.

      AIB: 2009 results

      Operating profit (before bad debt charge): €2.96 billion (-7%)

      Bad debt charge: €5.4 billion (+200%)

      Pretax loss: €2.65 billion (compares with €1 billion profit in 2008)

      Adjusted loss per share: 344.4 cent (compares with earnings of 67 cent in 2008)

      SUMMARY

      The country’s largest bank, Allied Irish Banks (AIB), posted its the first loss since the lender was established in 1966 after writing off €5.4 billion, primarily on loans to Irish land speculators and property developers.

      The bank said that its various businesses were operating in “tough economic markets, none more so than the Irish market”.

      The bank’s Republic of Ireland division was responsible for the bank’s problems.

      It lost €3.6 billion, compared with a loss of €47 million in 2008.

      AIB’s capital markets unit and the central and eastern European division remained profitable, while the UK division reported a loss of €16 million for the year.


      http://www.irishtimes.com/newspaper/finance/2010/0303/122426…
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      schrieb am 03.03.10 07:19:30
      Beitrag Nr. 118 ()
      The Irish Times - Wednesday, March 3, 2010
      Taoiseach challenged over Anglo funding
      In this section »



      MICHAEL O'REGAN

      FURTHER GOVERNMENT funding for Anglo Irish Bank would lead to “a revolution in the streets’’, Fine Gael leader Enda Kenny warned.

      “Fine Gael put forward a credible and workable solution for Anglo Irish Bank,’’ he said. “Break it up into a good bank and bad bank.’’

      He challenged Taoiseach Brian Cowen to say that the Government would not put “one further cent of taxpayers’ money’’ into the bank unless it put forward a proposal in line with the Fine Gael suggestion so that those who invested in a speculative fashion for return could share some of the pain.

      Mr Cowen said the bank had put a plan to the European Commission about setting up a self-contained bad bank idea and providing for a new good bank idea.

      Earlier, Mr Kenny referred to the publication of the “worst ever results’’ from Allied Irish Banks (AIB).

      He added that Minister for Finance Brian Lenihan had said that the Government was deeply embedded in the banking sector when the guarantee was passed by the House.

      Conditions had been laid out for recapitalisation and what the consequences might be.

      “In the intervening period, we have had no credit being lent, no return for the taxpayer and no dividends.’’

      He challenged Taoiseach Brian Cowen to say what conditions he would lay down before considering giving any further funding to AIB. Mr Cowen said the Government was preparing a comprehensive response to all of those issues.

      The AIB results, he added, showed that Nama was forcing the banks to face up to the reality of their bad loans.

      “Everybody knows that the banks lent far too much to speculative property development,’’ he added.

      “Nama is making the banks take the losses on these property loans upfront, and that that is what is reflected in the large loss that the AIB is reporting.”

      Mr Cowen said that without Nama, the banks would have inevitably tried to do what the Japanese banks had done in the 1990s, which would be to spread out the losses over the next decade to the detriment of lending to viable small businesses and households.

      “I am glad to note that the governor of the Central Bank said he believed Nama and the recapitalisation of the banks would create the foundations for the recovery of banking when he spoke to the Oireachtas finance committee earlier this afternoon,’’ he said.

      Labour leader Eamon Gilmore said that the Government’s policy on the banks was not working as was shown by job losses and company insolvency.

      Banks, he said, were not lending to business.

      “We are now in the third calendar year of this recession,’’ he said.

      Mr Gilmore asked Mr Cowen if he had any plans to change Government policy on the banks, or were they going to have a continuation of a policy which was resulting in little or no credit to businesses and leaving the taxpayer to dig deeper and deeper to pay to the banks.

      Mr Cowen said that as well as job losses, new jobs had also been announced.

      The Government had made it clear that if further recapitalisation was required, its preference was that it should be raised from private sources in the first instance, he added.

      If that was not possible, the State would provide the capital, said Mr Cowen.

      “If the State provides capital for a financial institution, it will take ordinary equity in that institution,’’ he said.

      Mr Cowen said that the purpose of recapitalisation was to protect and create jobs.


      http://www.irishtimes.com/newspaper/ireland/2010/0303/122426…
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      schrieb am 03.03.10 07:20:21
      Beitrag Nr. 119 ()
      The Irish Times - Wednesday, March 3, 2010
      Tax revenues for year to date down over €1bn on 2009
      Related

      LAURA SLATTERY and SIMON CARSWELL

      TAX REVENUES collected by the Government in the first two months of 2010 have fallen more than €1 billion behind the same period in 2009, it emerged yesterday, as the State’s largest bank, Allied Irish Banks (AIB), refused to rule out seeking further Government cash injections.

      The latest exchequer figures from the Department of Finance show that Ireland’s budget deficit worsened to €2.4 billion at the end of February. A further drain on the public finances is expected following an admission by AIB managing director Colm Doherty the bank may have to turn to the State for financial support if it cannot raise sufficient cash selling businesses or from investors.

      AIB, which has already received €3.5 billion from the State, yesterday reported the first annual loss in its 44-year history. The bank posted a loss of €2.65 billion for 2009 after writing off €5.4 billion on bad loans primarily to property developers and land speculators. Some €3.4 billion of the write-offs related to loans heading into the National Asset Management Agency (Nama). It was “highly likely” the Government would have to take a direct stake in AIB after Bank of Ireland handed over a 16 per cent stake to the State last month instead of a dividend payment due on the Government’s €3.5 billion indirect stake, said Mr Doherty.

      In a statement last night, Minister for Finance Brian Lenihan said AIB’s loss showed Nama was “forcing the banks to finally face up to the reality of their bad loans”. “Were it not for Nama, the banks might still be nursing their loans in an attempt to spread their losses over a prolonged period. This might benefit their shareholders, but it would choke the prospects of economic recovery.”

      Both the exchequer figures and the Government’s banking strategy were attacked by the Opposition yesterday. Fine Gael deputy leader Richard Bruton warned the “blank cheque for banks” policy must end and that their bad investment decisions should not be the responsibility of taxpayers. He described the exchequer data as evidence that Ireland risked “sinking into a vicious cycle” of plummeting tax revenues.

      Tax receipts were 1.3 per cent or some €64 million lower than Government targets for the first two months of the year, arriving at a total of €4.73 billion.

      Labour Party deputy leader Joan Burton said the lack of any “fabled green shoots” was “a hammer-blow to an increasingly shaky Government”.

      Austerity measures have resulted in a 10 per cent decline in public expenditure. Spending in the first two months of 2010 was €817 million lower than the same period last year. Following a 17.8 per cent year-on-year plunge in tax receipts, the exchequer deficit has widened by €323 million compared to its position at the end of February 2009. So far in 2010, some €338 million of tax receipts has been used to pay interest on the national debt. This figure is up €163 million on 2009.


      http://www.irishtimes.com/newspaper/frontpage/2010/0303/1224…
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      schrieb am 04.03.10 08:36:07
      Beitrag Nr. 120 ()
      The Irish Times - Thursday, March 4, 2010
      Force AIB to sell overseas assets, says FF Senator

      JIMMY WALSH

      SEANAD: THE GOVERNMENT should direct Allied Irish Banks to sell its overseas assets and use the money raised to assist businesses and to create jobs here, Larry Butler (FF) said. The State should also take steps to control the charges banks imposed on the business community.

      AIB had recorded a loss of close on €2.5 billion, he noted. “They could have told us that six months ago, but they preferred to come in and tell lies and bluff.”

      Complaining that she felt intimidated by the Minister for Education, Fidelma Healy Eames (FG) said Batt O’Keeffe had threatened to sue her if she continued to make remarks about cuts affecting children with special education needs. In the course of a debate last week, Mr O’Keeffe had accused her of making a political football out of the issue. She wanted to know from the leader of the House if this was appropriate behaviour for a senior Cabinet Minister towards a member of the Seanad. She also wished to know why the Minister was trying to silence her. She would be lodging a formal complaint with the Committee on Procedure and Privileges about the Minister’s behaviour.

      If the Government had taken a decision to begin dismantling the “partnership industry and to remove the partnership junkies from positions of authority”, he would welcome it, Shane Ross (Ind) said.

      He was referring to the draft order for the dissolution of the National Economic and Social Forum and the National Centre for Partnership and Performance, which was approved without debate. All those quangos that had sprung up as a consequence of social partnership should be dismantled, said Mr Ross.
      Avatar
      schrieb am 04.03.10 08:38:28
      Beitrag Nr. 121 ()
      AIB staff accept pension plan

      By Joe Brennan

      Thursday March 04 2010

      WORKERS at Allied Irish Banks have voted to accept the group's plan for members of its defined pension plan to start contributing 4pc of their salaries to the scheme from next month.

      Beneficiaries of the scheme will see their contributions rise to 5pc next year. Staff who joined the bank before 1998 are part of the plan and have not had to pay into it until now.

      The new terms are in line with recommendations from independent mediator Kevin Foley, of the Labour Relations Commission, who was brought in late last year to block an impasse between the IBOA finance union and AIB over how to tackle the pension deficit.

      Benefits

      Staff who still do not wish to contribute will see their pensions fall from two-thirds of final salary to a lower level.

      IBOA general secretary Larry Broderick said: "Our members in AIB have recognised the serious difficulties facing the pension scheme and have risen to the challenge by accepting a reduction in benefits together with, in some cases, an increase in contributions."

      He added: "This has been a very tough call in the present circumstances. But our members have bitten the bullet. It is up to the bank to reciprocate."

      AIB said on Tuesday that its pension deficit had almost halved in the final six months of the year to €714m.

      Still, banks are wary of recent proposals from the influential Basel Committee on Banking Supervision that pension deficits should be deducted from lenders' all-important equity capital.

      - Joe Brennan

      Irish Independent
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      schrieb am 05.03.10 09:21:57
      Beitrag Nr. 122 ()
      The Irish Times - Friday, March 5, 2010
      What next: Life after Nama


      The National Asset Management Agency (Nama) has focused most attention on the heavy losses incurred by the five participating banks through the knock-down price paid for the loans but little on the quality of the loans left behind.

      Allied Irish Banks (AIB) said at its annual results this week that after the transfer of €23 billion in loans to Nama, it would have a loan book of €107 billion against which it had set aside about €3 billion for bad debts, or 2.8 per cent of the post-Nama loan book.

      Some €58 billion of the remaining €107 billion left behind will be in the Republic of Ireland division and €48 billion overseas.

      About €27 billion of the remaining loan book is Irish residential mortgages against which AIB had taken a charge of €91 million to cover losses during 2009. AIB managing director Colm Doherty pointed out that the bank’s mortgage arrears were below the industry average.

      Among the loans left behind at AIB following the Nama transfers will be €12.8 billion worth of property and construction loans in the Republic of Ireland division.

      The bank has set aside €800 million to cover losses on these loans after marking down €2.2 billion as impaired and a further €3.2 billion “on watch” or vulnerable. Some €3.5 billion of the €12.8 billion relates to land and development loans, mostly loans below €5 million which are not transferring to Nama, while €8.7 billion is secured on investment properties.

      Mr Doherty said that €600 million of this book was originally due to transfer to Nama but has been retained at the bank as the loans were provided to the Nama-bound borrowers for purposes other than land and development lending.

      A further €700 million of the €3.5 billion relates to overdrafts to borrowers moving into Nama and was secured on collateral to be held by the State agency. Mr Doherty said that the risk-sharing between Nama and the bank on these loans had not been agreed.

      SIMON CARSWELL
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      schrieb am 05.03.10 09:23:08
      Beitrag Nr. 123 ()
      The Irish Times - Friday, March 5, 2010
      Banking on bad times for lenders





      SIMON CARSWELL, Finance Correspondent

      ANALYSIS: Retail banking faces another tough year, with Irish institutions paying more for their money than they are charging customers

      ALLIED IRISH Banks managing director Colm Doherty made a bold but refreshingly honest statement for a banker at AIB’s annual results when he said that only three players in the market were actually lending on mortgages and all three were domestic banks.

      “None of the foreign banks are lending, they have priced themselves out of the market,” he said on Tuesday.

      The lenders he was referring to are his own bank; Bank of Ireland, which is claiming in adverts to be approving 100 new mortgages a day, and EBS Building Society, which is writing more than double its usual share of new mortgages.

      The lack of competition does not bode well for consumers.

      Permanent TSB, once the leader in the mortgage market, said this week that the bank provided €800 million in lending in 2009, with just €300 million of this on new mortgages. The rest was top-ups to existing customers.

      This compares with €8 billion in new mortgage loans in one year at the peak of the property boom.

      Doherty said AIB was now covering 40 per cent of new mortgages, well above its traditional 17 per cent share of the market.

      Doherty said that retail banking was “dysfunctional”, with Irish institutions paying more for their money than they are charging customers. The consequent squeeze on the net interest margin cost the bank €420 million last year.

      It’s little wonder then that Lloyds Banking Group and French bank Paribas have abandoned Irish retail banking with the respective closures of their Halifax and Postbank businesses.

      The increased cost of customer deposits shaved 0.42 per cent off the net interest margin, which was only partially offset by a 0.18 per cent gain on high lending margins.

      Despite this AIB is still lending, though Doherty said that the bank’s standard variable rate would rise by a half point over “the next couple of months” to the same level offered by many peers.

      As the State’s largest bank moves, other lenders will follow to where Permanent TSB was forced to much earlier due to its heavy reliance on outside funding.

      The difficulty for AIB is not just the charges it makes on future loans but with the bank’s €27.8 billion Irish mortgage book.

      Doherty said that 60 per cent of these mortgages were on tracker rates. Most are likely to be on lossmaking margins above the European Central Bank rate.

      Resolving this will take some time – possibly as long as the duration of the loans – given that many customers have very favourable rates and will be reluctant to move in the short term when they are enjoying margins as low as 0.6 per cent above the ECB rate.

      The scale of the problem explains why AIB said this week that it will no longer take switcher mortgages to focus on first-time buyers and home movers. Mortgages are bad business in Ireland.

      Doherty pointed out that he did not see any value for the economy in facilitating switchers as the bank’s “primary emphasis is on support property transactions and thus the broader property market”.

      Doherty didn’t hold back when assigning blame for the problems with retail banking and the heavy concentration in land and development which is costing AIB so dearly and “imperilled” the bank.

      As a former head of the capital markets division of the bank in the IFSC on the northside of the river, he pointed to the problems at the retail bank at AIB Bankcentre on the southside in Ballsbridge.

      The bank had operated as “a siloed business” adopting different credit and risk standards across the bank which had led to the problems in the over-exposure to developers and land speculators.

      Doherty defended his track record as a director, saying that he had raised his concerns at board meetings about the retail bank. “My views are well-known at the board in relation to the concentration of risks that were built up in the retail portfolio,” he said.

      If Doherty pointed out the problems with retail banking on Tuesday, Irish Life & Permanent (IL&P) confirmed them the following day with its 2009 results.

      Permanent TSB, a mortgage lender, posted an operating loss of €270 million after writing off €376 million on bad loans. IL&P finance director David McCarthy said the net interest income fell 21 per cent to €375 million as higher deposit rates and increase funding costs squeezed the net interest margin.

      It’s all about funding at IL&P this year as well as raising up to €600 million as a dowry to recapitalise Permanent TSB before marrying it off into any unions that arise from the expected consolidation across the banking sector.

      While awaiting the future shape of the sector following the loan transfers to the National Asset Management Agency (Nama), IL&P must try at least to fix Permanent TSB’s operating model.

      The mountain it must climb is the €3.5 billion in funding that matures before the blanket guarantee ends in September.

      The extended Government guarantee scheme will cost the bank up to €130 million this year, almost five times the blanket guarantee cost the company last year, so this, coupled with higher deposit rates will continue to eat into operating profits before loan loss charges.

      Kevin Murphy, chief executive of IL&P, said he expected banks to stop paying up for deposits once Nama injected liquidity and improved bank funding generally.

      Michael Cummins, a director at Dublin firm Glas Securities, which specialises in fixed-income markets, said that life will remain difficult in Irish retail banking “until confidence is fully restored in the Irish banks and the marketplace”.

      “The cost of the new Government guarantee, significantly higher costs of funding outside the guarantee and increased competition for deposits will weigh negatively on earnings in 2010.”

      Retail banking in Ireland faces another tough year as the Nama transfers have yet to begin and as a result it will be some time before the banks’ capital requirements are crystallised. Until then, high-street banking will remain tricky.
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      schrieb am 05.03.10 09:23:48
      Beitrag Nr. 124 ()
      The Irish Times - Friday, March 5, 2010
      Iceland defiant as experts warn of effects of No vote


      CLARE MacCARTHY

      CONFUSION REIGNED in Reykjavik yesterday as voters prepared to spurn a controversial compensation deal for British and Dutch investors and the Icelandic government scrambled for a formula that would allow it to cancel tomorrow’s planned referendum.

      The vote was triggered against the government’s wishes when President Ólafur Grímsson refused to sign a law detailing a package to reimburse investors in the failed Icesave online savings bank.

      A rejection of this package in Saturday’s referendum could have grave consequences, observers said yesterday.

      Iceland risks a fresh bout of financial turmoil, delayed loans from the IMF and European allies as well as derailed plans for European Union membership.

      A No vote would also represent a crushing blow to Jóhanna Sigurdardóttir’s centre-left coalition, which only a year ago was hailed as heralding a new start for the troubled north Atlantic nation.

      Icelanders, however, seemed willing yesterday both to defy their government and to run the risk of financial fallout by voting No.

      An opinion poll published on Tuesday said that three-quarters of voters would reject the Bill, which would force them to pay €3.9 billion to the UK and Dutch governments. Apart from the magnitude of the money involved, Icelanders are still stung by the British government’s use of anti-terror legislation to freeze Icelandic assets in the wake of their banking crisis, a move they believe intensified their predicament.

      Resentment against the British prime minister runs deep and this is boosting anti-referendum sentiment. “Perhaps it’s because people are unwilling to give in to the bullying behaviour of Brown,” Eiríkur Bergmann, a political scientist at Iceland’s Bifröst University told The Irish Times .

      The anticipated rejection of the compensation package would be “a direct message to Gordon Brown”, Prof Bergmann said.

      Icelanders, he added, were willing to fulfil their legal obligations in accordance with the EU depositary bank scheme by providing compensation, “but it must be fair”.

      According to one estimate, the amount of money due under the referendum package is the equivalent of €100 a month for eight years for each of the country’s 317,000 inhabitants.

      And although the repayments schedule is spread over 15 years with a seven-year grace period, most Icelanders believe the 5.55 per cent interest rate charged is excessive, jeopardises economic recovery and puts too heavy a burden on future generations.

      But in the absence of an alternative deal with the UK and the Netherlands – which Iceland’s government has been battling to secure – the country’s immediate prospects are troubled.

      In the absence of hard proof that Iceland is willing to live up to its financial responsibilities, the IMF would almost certainly postpone the next tranche of its $2.1 billion emergency loan. Other lenders, including Iceland’s Nordic neighbours, would also be likely to hold back on disbursements pending concrete indications of fiscal responsibility.

      Additionally, Iceland’s membership of the European Union is likely to be blocked by the UK and the Netherlands until it delivers a compensation package.

      All of these arguments, however, appear to hold little sway with Icelandic voters.

      Economy minister Gylfi Magnussen said yesterday that delaying the settlement of the Icesave problem could deepen the country’s projected 2010 economic growth contraction of 2-3 per cent to 5 per cent.

      But a sense of resilience prevails: “We’ve been living with this situation for 18 months, but life still goes on. We’re not travelling abroad so much any more, but there are more people in Reykjavik’s restaurants,” said Prof Bergmann.
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      schrieb am 05.03.10 09:24:45
      Beitrag Nr. 125 ()
      The Irish Times - Friday, March 5, 2010
      AIB shares up 20% on back of plan to sell its overseas assets
      Related


      SIMON CARSWELL and UNA McCAFFREY

      THE STATE’S largest bank, Allied Irish Banks (AIB), climbed 20 per cent on the stock market, its biggest gain since September, after investors reacted favourably to its plan to sell businesses which would generate cash to help absorb mounting losses.

      The bank has been presenting its capital-raising plan to investors in London over the past two days after saying this week that it could raise up to €4 billion by its own means and avoid a further Government bailout.

      The bank’s shares climbed 20 cent to €1.25 as global institutional investors warmed to the bank’s plan which involves selling some of the bank’s most valuable assets.

      The rising share price also lifted Bank of Ireland which increased 9.1 per cent, or 9 cent, to €1.09.

      AIB will be left with a capital hole of more than €4 billion after selling €23 billion in development loans at a discounted price to the National Asset Management Agency (Nama).

      The bank said that it could raise capital by selling key businesses, which include its UK banking business, Polish lender Bank Zachodni WBK, and its interest in US bank MT, before having to turn to shareholders for cash.

      Analysts estimate that AIB could net about €2.5 billion from the sale of its Polish and US businesses.

      Colm Doherty, managing director of AIB, said this week that it has had discussions with a number of investors who were interested in taking a “strategic” stake in the bank. He said that there were an “inordinate” number of parties interested in AIB’s Polish business, which he described as “the jewel in the crown”.

      The bank reported losses of €2.6 billion for 2009 earlier this week – the first annual loss in its history.

      AIB has said that it plans to raise capital through “self-help” options before turning to investors or even the Government for cash.

      The positive reaction from the international investment community improves the bank’s prospects of tapping these investors for cash through the issuing of new shares after the sale of its businesses.

      “They are getting a positive reaction to the ‘self-help’ programme, even if it means selling prized assets,” said banking analyst Sebastian Orsi at Dublin stockbroking firm Merrion Capital.

      The share price values AIB at just over €1 billion. Further gains on the market will improve the bank’s chances of raising sufficient capital from a “rights issue” cash call of shareholders. Investors were said to be particularly encouraged by the potential sale of AIB’s UK business in private presentations given by Mr Doherty over the past two days.

      The sale of the business, which has a well-established commercial banking operation, could generate €650 million in a capital gain for AIB, according to analysts at French bank Société Générale.

      AIB’s plan to swap debt with bondholders for an estimated gain of up to €350 million will be made within days, sources said.

      Meanwhile, Anglo Irish Bank director Alan Dukes said the bank may become part of “a third force” banking group to rival AIB and Bank of Ireland formed out of the smaller financial institutions.

      http://www.irishtimes.com/newspaper/frontpage/2010/0305/1224…
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      schrieb am 08.03.10 09:39:12
      Beitrag Nr. 126 ()
      The Irish Times - Monday, March 8, 2010
      Optimistic outlook boosts shares across region

      EUROPE REPORT: Eurostoxx 50: 2,875.90 (+59.80) Frankfurt DAX: 5,877.36 (+72.60) Paris CAC: 3,910.42 (+82.01)

      A SMALLER than expected drop in US jobs in February and easing concerns over the fiscal situation in Greece helped lift European share prices to six-week highs yesterday, with banks building on recent gains.

      Investors’ appetite for risky assets such as equities rose, with the VDAX-NEW volatility index hitting its lowest in nearly two years. The lower the index, which is based on sell and buy options on Frankfurt’s top-30 stocks, the higher the market’s desire to take more risk.

      The pan-European FTSEurofirst 300 index rose for a sixth straight day to end 1.8 per cent higher at 1,054.55 points after touching 1,054.60 – the highest since January 21st. The index recorded its biggest daily gain in three months and rose 4.7 per cent for the week, the biggest weekly rise since mid-July.

      The index, which gained 26 percent last year, is up more than 63 per cent since hitting a record low in March 2009. Volumes were 101 per cent of the 90-day daily average.

      Banks were the top gainers, with the STOXX Europe 600 banking index rising 3.1 per cent, its biggest one-day gain in four months. Standard Chartered, HSBC, Barclays, BNP Paribas, Societe Generale, Allied Irish Banks and Bank of Ireland rose 2.5 to 14 per cent.

      Greece’s hopes of solving its debt crisis got a boost when it attracted heavy demand for the sale of a bond issue on Thursday, but an opinion poll showed the government faces stiff opposition to planned austerity measures.

      On the macroeconomic front, data showed US employers cut a smaller than expected 36,000 jobs in February, leaving the national unemployment rate steady at 9.7 per cent, bolstering views the labour market was on the brink of creating jobs.

      The mining sector was the second biggest gainer. BHP Billiton, Anglo American, Antofagasta, Rio Tinto, Xstrata and Eurasian Natural Resources rose 2.4 to 5.6 per cent.

      Food producers, generally seen as defensive plays, lost appeal as risk appetite grew. Nestle, Nutreco and Kerry Group fell 1.2 to 2.1 per cent.

      Volkswagen ordinary shares jumped 7.7 per cent after Citigroup upgraded Europe’s biggest carmaker to a ‘‘buy’’. – Reuters


      http://www.irishtimes.com/search/index.html?rm=listresults&f…
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      schrieb am 10.03.10 09:56:16
      Beitrag Nr. 127 ()
      The Irish Times - Tuesday, March 9, 2010
      Mansfield jnr among four men sought by AIB for €6m
      In this section »



      MARY CAROLAN

      ALLIED IRISH BANK is seeking summary judgment orders for some €6.28 million against four businessmen over their alleged failure to repay loans advanced to develop lands in Co Meath.

      Mr Justice Peter Kelly had previously referred to “disquieting circumstances” surrounding unsuccessful efforts by a summons server to personally serve the proceedings last month on James Mansfield jnr at Palmerstown House Golf and Country Club.

      The summons server said he felt “intimidated and threatened” after being asked to leave the premises on February 24th last and being followed from it for a time by a Range Rover with tinted windows and, in those circumstances, sought orders allowing him serve the proceedings by other means.

      The server said he had previously managed to speak with Mr Mansfield by phone and the latter had said he would be available to meet him on February 24th but, on that date, Mr Mansfield had not responded to any of his calls.

      The summons server, who had made previous unsuccessful efforts to serve Mr Mansfield at Citywest Hotel, at an address in Saggart and his home at Palmerstown House, Johnstown, Co Kildare, secured an order from Mr Justice Kelly on February 26th allowing him effect service by posting it to Mr Mansfield’s business address at Unit D4, Centre Point Business Park, Dublin 12.

      Because the server had also experienced difficulties effecting personal service on two other defendants, Brian Higgins and Seamus Kavanagh, the judge had made orders allowing service on Mr Higgins by post to Allensgrove, Celbridge Road, Leixlip, Co Kildare; and to Unit D4, Centre Point Business Park.

      Effecting service on Mr Kavanagh was permitted by post to a property at Kyle, Killea, Templemore, Co Tipperary.

      No order for substituted service was sought against Glen O’Callaghan, Drapier Road, Dublin 11, as personal service was effected on him.

      The proceedings against all four men were transferred to the Commercial Court yesterday on the application of Denis McDonald, for AIB.

      Mr Justice Kelly was told the defendants had made a proposal last Friday which the bank wished to consider and, on that basis, he agreed to adjourn the matter for one week.

      AIB claims the defendants owe it some €6.28 million. This, it claims, is as a result of loans advanced to them from 2003 in connection with the purchase of a site at Duleek, Co Meath, and the construction of a mixed development of apartments and a commercial unit there.
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      schrieb am 10.03.10 09:57:16
      Beitrag Nr. 128 ()
      The Irish Times - Wednesday, March 10, 2010
      AIB directors shared €2.5m in 2009
      In this section »



      SIMON CARSWELL, Finance Correspondent

      EXECUTIVE DIRECTORS at Allied Irish Banks (AIB) shared remuneration of €2.5 million in 2009, a reduction of 26 per cent on the previous year, according to filings with the Securities and Exchange Commission in the US.

      Former AIB chief executive Eugene Sheehy received a package of €892,000 from the start of the year until his retirement from the bank last November. His basic salary was €638,000 and he received €196,000 related to pension contributions. This compared with €1.15 million a year earlier.

      Colm Doherty, who took over as managing director in December, was the second highest paid executive at AIB, receiving €833,000 for 2009, which included a basic salary of €622,000. He was paid €822,000 the previous year.

      Mr Doherty, who was previously head of AIB Capital Markets, has since agreed to take a salary cut to €500,000 in line with the Government’s pay cap for bankers.

      Dermot Gleeson, the bank’s former chairman who stepped down last June, received €203,000 pay, compared with €475,000 the previous year. AIB’s non-executive directors shared fees of €970,000 in 2009, compared with €1.5 million in 2008.

      Donal Forde, formerly head of AIB’s Republic of Ireland division, was paid €295,000 for his role as a director. Mr Forde was paid total remuneration of €776,000 the previous year. He stepped down from the board of the bank after his division posted a loss in 2008 as a result of a bad loan charge of €1.3 billion. Dan O’Connor received €187,000 in 2009, including €31,000 as executive chairman for the final six weeks of the year.


      http://www.irishtimes.com/newspaper/finance/2010/0310/122426…
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      schrieb am 12.03.10 09:23:48
      Beitrag Nr. 129 ()
      The Irish Times - Friday, March 12, 2010
      AIB raises €3bn from State-guaranteed bonds



      SIMON CARSWELL, Finance Correspondent

      ALLIED IRISH Banks (AIB) has raised a further €3 billion on two bonds covered by the extended Government bank guarantee in the second public issuance of debt by the bank under the scheme.

      This brings to €13.4 billion the total debt raised by AIB, Bank of Ireland, Irish Life & Permanent and EBS building society this year under the extended guarantee.

      Anglo Irish Bank and Irish Nationwide Building Society have also signed up to the extended bank guarantee, but have yet to raise funding under the scheme.

      The banks have raised about half the €25 billion to €30 billion in debt maturing this year, according to Dublin firm Glas Securities, which specialises in fixed-income markets. Some €25 billion falls due before the two-year State blanket bank guarantee expires on September 29th next.

      AIB raised €2 billion on a five-year fixed-rate bond and a further €1 billion on a two-year floating-rate note. The bonds were over-subscribed, with orders of €3.3 billion and €1.2 billion respectively.

      Donal Murphy, head of wholesale treasury at AIB’s capital markets division, said that the bank had decided not to take all of the funding offered, as the bank was “conscious of future issuances from the Irish system”.

      Both bonds are covered under the Eligible Liabilities Guarantee (ELG), the extended bank guaranteed introduced last December.

      The five-year bond was priced at a rate of 155 basis points (1.55 percentage points) over the midswaps rate, the European reference point for pricing debt, while the two-year note was priced at the equivalent of 95 basis points over.

      AIB raised €1.5 billion on a three-year bond at 1.35 basis points over midswaps in January.

      Total debt covered under the ELG across the domestic lenders stands at €37 billion, according to Department of Finance figures.

      AIB has raised between 66 per cent and 75 per cent of its total expected funding requirements for 2010, according to Glas.

      Fergal Ryan, a director of Glas, said that this would “help open the door for both AIB and Bank of Ireland” to start raising debt falling outside the State guarantee.

      He does not expect all the debt maturing this year to be refinanced using the State guarantee.

      The fees charged to the banks under the extended guarantee are about four times more expensive than under the blanket guarantee, which was introduced in September 2008 to help banks raise funding.


      http://www.irishtimes.com/newspaper/finance/2010/0312/122426…
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      schrieb am 12.03.10 09:26:40
      Beitrag Nr. 130 ()
      Regulator oversees stress test of lenders' mortgages
      Non-NAMA property loans come under the spotlight to assess banks' capital needs






      By Joe Brennan

      Friday March 12 2010

      The Financial Regulator is overseeing a massive 'stress test' of banks' mortgage and non-NAMA property loans before they are told later this month how much capital they need to raise.

      The announcement by Finance Minister Brian Lenihan is expected within weeks and is certain to contain updated estimates on the discounts lenders face on their NAMA loans.

      The new estimates will take into account the haircuts on the first tranche of loans that should have been transferred by then.

      Commission verdict

      The European Commission's verdict on the state-aid restructuring plans of both Allied Irish Banks and Bank of Ireland is also expected to be delivered by the end of March.

      In his first public address since taking over as Financial Regulator in January, Matthew Elderfield said Irish banks post-NAMA would be scrutinised under a likely -- or base -- scenario and a stress situation.

      Following this, they would be set a "prudent target capital requirement that is informed by emerging best practice internationally", Mr Elderfield told a lunch organised by the Chartered Accountants Leinster Society in Dublin.

      It is understood the regulator has set a number of worst-case scenario figures in recent weeks for the 'stress test' which centre on unemployment, economic contraction and property prices. The banks and building societies have been working on these over the past few weeks.

      It is believed the Government's own banking adviser, NM Rothschild, and a leading accountancy firm are involved in the huge project.

      The news comes as the UK financial regulator told the country's banks this week to test their businesses for two more years of recession and a much sharper decline in the British economy than a previous test last year.

      The UK Financial Services Authority has demanded that banks have no less than a 4pc equity tier 1 ratio -- a key gauge of a lender's ability to absorb shock losses -- under the worst-case scenario.

      Consensus

      The growing consensus is that banks globally will have to reach an 8pc equity ratio by 2012 -- but some analysts have read recent remarks from Central Bank governor Patrick Honohan as a signal that Irish lenders may have to hit this target sooner than elsewhere.

      Mr Honohan is Mr Elderfield's boss under a move by the Government to remerge the regulator with the Central Bank.

      The watchdog head said yesterday that legislation to cement this new structure "is expected very shortly".

      Goodbody Stockbrokers analyst Eamonn Hughes said that his estimates factored in the banks having to reach an equity ratio of 6pc to 6.5pc by the end of this year.

      "To get there, Bank of Ireland would need to raise about €2.5bn and AIB around €4bn," he said.

      Manageable

      Mr Honohan said last month that the cost of recapitalising the country's banks would be "manageable" for the Government. Both BoI and AIB are working on plans to raise as much capital privately, before going back to the State, which has already pumped €3.5bn into each by way of preference shares.

      In the event that they do not reach their targets, it is likely the Government will start converting its preference stock into ordinary shares.

      - Joe Brennan

      Irish Independent


      http://www.independent.ie/business/irish/regulator-oversees-…
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      schrieb am 13.03.10 08:04:55
      Beitrag Nr. 131 ()
      The Irish Times - Saturday, March 13, 2010
      Doherty tells AIB staff bank needs to raise more capital in coming months




      SIMON CARSWELL Finance Correspondent

      ALLIED IRISH Banks (AIB) needs to make “significant progress” on raising capital over the coming months, the bank’s managing director Colm Doherty said in an internal staff circular marking his first 100 days in charge.

      Mr Doherty told AIB employees that the bank planned “self-help” options to raise capital through balance sheet management, asset and business disposals, and “potential external strategic investors”.

      “We have now moved beyond the point of developing initiatives and the implementation of the capital plan is under way,” he said.

      AIB is estimated to require about €4 billion in capital following the discounted sale of €23 billion in loans to the National Asset Management Agency (Nama) to reach a 6 per cent core equity ratio, the gauge of a bank’s ability to withstand losses.

      “We know we need more capital. What we don’t yet know is the amount of capital we will be required to hold by the Financial Regulator and, crucially, the timeframe in which we will be required to do so,” said Mr Doherty.

      “This is a vital consideration not just for the bank but also for the Irish economy.”

      AIB has said the amount of new capital required depends on when its core equity ratio must be raised to the international threshold of 8 per cent. Mr Doherty has said that the bank can reach this level by the end of 2012. This ratio stood at 5 per cent at the end of last year.

      The sooner it has to reach the 8 per cent ratio, the higher the likelihood AIB will be unable to raise capital privately and be forced to cede a large stake to the State.

      The Financial Regulator is carrying out stress tests on the post-Nama loan books of the banks to determine the minimum capital required by financial institutions.

      An announcement is expected later this month on how much new capital the banks will require.

      Mr Doherty said the bank was ready to start transferring loans to Nama and that the bank expected “the loans in the first tranche of up to 10 of our customers to transfer shortly”.

      “The work programme will remain intense over the coming months as we continue to effect transfers,” he told staff.

      AIB had provided “comprehensive answers” to all queries raised by the EU on the bank’s restructuring plan, he said, but could not give any detail on the outcome.

      Mr Doherty told staff that interest rates would increase on the bank’s “lending products” over the coming months in order for AIB to remain a viable business.

      AIB would “shortly” present the final appointment on Mr Doherty’s new management team, the role of chief risk officer, to the regulator for their approval.

      The bank has centralised credit underwriting, risk and policy under group chief credit officer, Joe O’Connor, “to ensure we do not repeat the mistakes which largely contributed to our present problems”, said Mr Doherty.


      http://www.irishtimes.com/newspaper/finance/2010/0313/122426…
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      schrieb am 16.03.10 12:19:51
      Beitrag Nr. 132 ()
      The Irish Times - Tuesday, March 16, 2010
      AIB could raise €400m in fresh capital from exchange of bonds



      SIMON CARSWELL

      THE STATE’S largest bank, Allied Irish Banks (AIB), could raise up to €400 million in fresh capital from an exchange of bonds announced by the bank yesterday, according to analysts’ estimates.

      AIB has offered investors the chance to exchange euro, sterling and dollar subordinated bonds worth €2.9 billion for new, longer-dated bonds that pay a higher coupon but at a discount to the face value of the existing bonds.

      Under the proposed exchange, investors are being offered new bonds at between 74 per cent and 91 per cent of the face value of the existing bonds which the bank is offering to exchange.

      The existing AIB bonds are trading at discount to their face value in the bond markets.

      Bank of Ireland made a capital gain of €405 million in a similar exchange of subordinated bonds last month when there was a 56 per cent take-up among investors.

      Interest from investors in AIB’s bonds may be higher, analysts say, as the bank is offering a higher coupon than Bank of Ireland.

      AIB is offering coupons of between 10.75 per cent and 11.5 per cent on its new lower tier two bonds, compared with the 10 per cent offered by Bank of Ireland.

      The exchange, if successful, means AIB will make an upfront capital gain of between €300 million and €400 million but faces a higher interest bill on its debt through the longer-dated bonds.

      A 75 per cent take-up would net AIB a capital gain of €429 million.

      The purpose of the planned exchange was “to optimise the capital base of the bank”, AIB said.

      Investors have until this Friday to decide to participate. The bank will announce the results of the debt swap next Monday.

      “This is one of the obvious ways to raise capital in the short-term but they still have more to do,” said Sebastian Orsi, analyst at stockbrokers Merrion Capital.

      Mr Orsi said AIB needs about €4.5 billion in further capital to boost its core equity ratio to 8 per cent, the percentage of assets that has become the capital threshold for banks internationally.

      AIB has said that it will look at “self-help” measures such as selling businesses and seeking a strategic investor in the bank in order to raise capital before tapping shareholders in a rights issue of new shares in the bank or seeking a further State bailout.

      The bank will transfer €23 billion in loans to the National Asset Management Agency (Nama) at a discount estimated at 35 per cent by analysts, leaving a capital hole to fill on the bank’s balance sheet.

      AIB generated €1 billion in capital in a bond exchange last year.
      Avatar
      schrieb am 16.03.10 12:20:49
      Beitrag Nr. 133 ()
      The Irish Times - Tuesday, March 16, 2010
      AIB fails to reach accord on 6.28m loans



      Allied Irish Bank has failed to reach an agreement with four businessmen, including a son of well-known hotelier Jim Mansfield, over the repayment of some €6.28 million arising from loans advanced to develop lands in Co Meath.

      The proceedings had been admitted to the Commercial Court last week but were adjourned after the defendants made proposals to the bank.

      Yesterday, Denis McDonald SC, for AIB, said the talks had “come to nothing” and the bank was proceeding with its application. Ms Justice Mary Finlay Geoghegan adjourned the case to next month.

      http://www.irishtimes.com/newspaper/ireland/2010/0316/122426…
      Avatar
      schrieb am 16.03.10 12:26:01
      Beitrag Nr. 134 ()
      Charlie Weston: It's time that we cut our dependence on the banks




      By Charlie Weston

      Tuesday March 16 2010

      COULD we do without banks? Maybe not, but we could certainly lessen our dependence on them and might be wise to do so given the raft of product price rises they are pushing through.

      AIB and Bank of Ireland are increasing the interest rates on a number of credit cards, Bank of Ireland is increasing loan and overdraft rates, while most lenders are about to follow Permanent TSB's lead by hitting standard variable rate mortgage holders with higher rates.

      And it is getting harder to open a new credit card account or switch accounts, or to get a personal loan, while the impending closures of Halifax and Postbank will reduce the choice and competitive edge in the market.

      If you have a job or a pension, you need a bank account as most employers will not pay you cash these days. But you can lessen the use of your bank, which makes sense when banks are effectively asking their customers to make up for losses on lunatic commercial property loans.

      Here's the plan: cut up your credit card, never run up an overdraft and only get loans from a credit union.

      Credit cards are ridiculously expensive and getting dearer. Cut yours up and get a loan to pay it off.

      Instead, you can use a debit card, such as Laser or Visa, for most transactions these days where before you could only use a credit card. The advantage of a debit card is that you can only spend what you have in your current account.

      If you find you still need a credit card then get a virtual card such as 3V, which you pre-load with cash in a retail outlet. Alternatively, get a pre-paid Mastercard from the likes of Neteller.com.

      Overdraft rates are also enough to make you weep. Rates of 14pc or 15pc are not unusual. Then there are surcharges of up to 12pc on top of this if you end up with an unauthorised overdraft.

      Why not get friendly with your local credit union?

      Also essential is to ensure you are not letting any large cash amounts build up in your current account. This is because if you are earning any interest on this at all it is likely to be paid only on the first €1,500. Scour the market for the best rate.

      For three and five years' fixed it is hard to beat the tax-free rates on offer from An Post bonds and certificates.

      Only buy services and products you need from your bank. Do not be persuaded to buy something you do not need.

      Let's put manners on our badly behaved banks.

      - Charlie Weston

      Irish Independent
      Avatar
      schrieb am 17.03.10 07:27:08
      Beitrag Nr. 135 ()
      Morgan Stanley - Allied Irish Banks "overweight"

      12:11 11.03.10

      Rating-Update:

      New York (aktiencheck.de AG) - Steven Hayne und Chris.Manners, Analysten von Morgan Stanley, stufen die Aktie der Allied Irish Banks (Profil) unverändert mit "overweight" ein. Das Kursziel werde von 2,40 EUR auf 2,35 EUR gesenkt. (11.03.2010/ac/a/u)
      Avatar
      schrieb am 17.03.10 07:27:49
      Beitrag Nr. 136 ()
      Société Générale - Allied Irish Banks "buy"

      12:55 16.03.10

      Rating-Update:

      Paris (aktiencheck.de AG) - Omar Keenan, Patrick Lee und Alan Webborn, Analysten der Société Générale, stufen die Aktie der Allied Irish Banks (Profil) weiterhin mit "buy" ein. Das Kursziel sehe man unverändert bei 1,80 EUR. (16.03.2010/ac/a/u)
      Avatar
      schrieb am 19.03.10 23:04:12
      Beitrag Nr. 137 ()
      Antwort auf Beitrag Nr.: 39.155.135 von Aktientitan am 17.03.10 07:27:49Go, AIB go, wir glauben an Dich!!!!:D:D

      Schönes Wochenende.

      Gruss Caro
      Avatar
      schrieb am 23.03.10 07:40:16
      Beitrag Nr. 138 ()
      The Irish Times - Tuesday, March 23, 2010
      EIB to lend up to €500m to Dublin metro scheme



      SIMON CARSWELL Finance Correspondent

      THE EUROPEAN Investment Bank (EIB) provided a record €1.02 billion in loans to Ireland in 2009 and has agreed to lend up to €500 million to the Dublin metro.

      The EIB’s Irish lending last year was more than double the €400 million to €450 million the bank normally provides annually in Ireland, as last year the financial crisis led to a shortage in credit supply.

      The European Union’s lender made €260 million available to Irish small and medium-sized enterprises (SMEs) through credit lines with Allied Irish Banks (AIB), Bank of Ireland and Ulster Bank, of which two-thirds have been drawn down.

      Speaking ahead of a meeting with Minister for Finance Brian Lenihan in Dublin today, EIB vice-president Plutarchos Sakellaris said the bank would continue to provide at least its normal level of lending in Ireland.

      Mr Sakellaris is also meeting Central Bank governor Patrick Honohan and Minister for Transport Noel Dempsey today.

      The EIB would consider further funding for Irish SMEs, he said, describing the take-up of the credit already provided by the bank to firms as “satisfactory”.

      The three banks could not provide the loans “overnight”, he said.

      Mr Sakellaris said that Ireland was not unique in seeing a shortage of credit to SMEs.

      The bank will continue to lend to transport, energy, and research and development projects, he said.

      The EIB increased its lending to a record level in Ireland last year as it saw “a large pool of worthwhile, financially viable projects”.

      “If, of course, there is a demand for loans and we are presented with appropriate projects, we stand ready to lend to sustainable, economically viable projects,” he said.

      The EIB provided loans primarily to energy and infrastructural projects last year as financing for public-private projects became more difficult to secure.

      The bank’s financing included €300 million provided for Eirgrid’s east-west interconnector, €300 million to the new terminal at Dublin airport and €200 million for ESB wind farms.

      The EIB’s loans to the 19km Dublin Metro, which will run from Dublin city centre to Fingal via Dublin airport, will amount to 8 per cent of the project’s estimated €6 billion cost.

      Mr Sakellaris said the bank was examining two other public-private partnership projects forming part of a western transport corridor between Cork, Limerick and Galway – the N17-N18 Gort to Tuam motorway and the motorway linking the Dublin-Limerick and Dublin-Wexford roads.

      The EIB was still completing technical and feasibility appraisals of the projects and, if the conditions were met, agreements could be signed next year.

      The bank, which is owned by the 27 EU member states, has provided loans of more than €5 billion for capital investment projects since 2000. Some 37 per cent related to energy projects, while 33 per cent concerned transport.

      The bank increased its total lending to more than €79 billion in 2009, including €70.5 billion in EU member states, a 40 per cent increase on the previous year.
      Avatar
      schrieb am 23.03.10 07:41:15
      Beitrag Nr. 139 ()
      The Irish Times - Tuesday, March 23, 2010
      AIB debt restructuring raises €445m in capital

      SIMON CARSWELL Finance Correspondent

      ALLIED IRISH Banks (AIB) has generated about €445 million in fresh capital from a debt restructuring – the first part of the bank’s so-called “self-help” plan to boost its capital by €4 billion.

      The bank offered investors in six lower tier two bonds the chance to invest in longer-dated bonds that paid a higher coupon but at a discounted price to the face value of the existing bonds.

      Investors agreed to swap the six subordinated bonds with a face value of €2.21 billion for about €1.76 billion of new, higher-yielding debt, generating the €445 million capital gain for the bank.

      The bonds are being exchanged for between 74 per cent and 91 per cent of their face value, AIB said.

      The bank will issue the new debt to investors next Monday.

      The swap represented a 78 per cent take-up among investors, higher than the 56 per cent take-up in a Bank of Ireland debt exchange last month where the bank made a €405 million gain.

      Analysts attributed the higher take-up at AIB to the fact that the bank was offering a higher coupon on the bonds than its rival bank.

      “It was a good take-up and a good start – there is still more to do,” said Sebastian Orsi, analyst at stockbrokers Merrion Capital.

      He estimated that the bank required a further €4.3 billion in additional capital to bring its core equity capital ratio to 8 per cent, which has become the international standard expected showing a bank’s ability to absorb losses.

      “This is an important first step in AIB’s capital-raising strategy,” said Fergal O’Leary, a director of Dublin firm Glas Securities.

      AIB plans to raise capital through “self-help” options, such as selling assets and seeking a strategic investor, before tapping shareholders in a rights issue.

      The bank will start moving the first of €23 billion in loans to the National Asset Management Agency (Nama) over the coming days, according to Nama’s plans.

      However, the transfers may be delayed as the first institutions to receive details on the first loans to be transferred have yet to obtain full details on the first transfers.

      Bank of Ireland is still receiving the so-called acquisition schedules from Nama showing the first loans to be acquired, the price to be paid for them and how the agency has set the discounts on the loans.

      AIB will move about €3 billion in loans linked to the top 10 borrowers in the first transfers.

      The first loans are expected to transfer on Friday with the publicly quoted participants in Nama – AIB and Bank of Ireland – making announcements after the market closes on Friday or before it opens on Monday on the discounts faced on the first loans.

      Further delays in the transfers may delay these announcements.

      Minister for Finance Brian Lenihan is planning to make an announcement on bank recapitalisations next Tuesday.

      http://www.irishtimes.com/newspaper/finance/2010/0323/122426…
      Avatar
      schrieb am 28.03.10 08:40:34
      Beitrag Nr. 140 ()
      Timorous Cowen must be ousted . . . and fast
      The Taoiseach is worse than hapless, he is wilfully blind to what is happening in his Government and to the country, says Alan Ruddock

      Sunday March 28 2010

      It is hard to pick a low point in last week's news, but Thursday's economic statistics came closest. While the media focused its fire on Brian Cowen's minimalist reshuffle and the simmering discontent on his Fianna Fail backbenches, the release of the Quarterly National Accounts confirmed what many had feared: far from bottoming out, or even turning a corner, Ireland's economy plunged deeper into recession in the last three months of 2009.

      The worst is not over, no matter what the Government wants us to believe. Beneath the headline figures the news was even more depressing. The slim recovery last autumn, which saw the economy edge back into growth by the slenderest of margins, has been revised downwards: the recession did not end, not even temporarily, not even technically: Ireland's relentless decline slowed for a few months, but then gathered pace again as the year drew to a close.

      Even worse, the figures for the domestic economy, excluding the profits earned by the big multi-nations, showed a staggering 11.3 per cent collapse in the year and more than 20 per cent from its peak. No matter how this tale of economic woe is spun, this can no longer be referred to as a simple recession: Ireland is in the grip of a depression.

      The figures, though, have no meaning for Cowen or for the public sector unions. Both seem to believe that it is business as usual. Cowen shuns an opportunity to make fundamental changes in his Cabinet and in the way the country is governed, proving beyond any reasonable doubt that he has no concept of what is happening and not the faintest idea of what he should do. He is worse than hapless: he is wilfully blind to what is happening to the country and clearly believes that if he can just sit tight, keep the Green Party happy and bludgeon his own TDs into line, he can survive until the next General Election.

      By then, sure, the global economy will have recovered and the rising tide will lift his boat. If this were a real war, rather than 'just' an economic one, he would be taken out and shot for cowardice.

      The unions, too, continued to inhabit their own parallel universe, aided and abetted by Cowen's feeble Government. Their motto seems to be clinically selfish: ignore the reality of depression, pretend that public sector pay cuts can be rescinded, hold the Government to ransom over reform and let the rest of the country go hang.

      The scenes at the passport office revealed their true colours, and the self- justifications offered by the CPSU, the union responsible for the action, showed how disinterested they are in the common good. They and their members are engaged in economic terrorism, their targets the ordinary people of this country who just want a service that they have paid for. If Cowen continues to indulge them -- why talk to unions while they engage in these tactics? -- the CPSU will be followed by the rest of the public sector unions and we will move ever closer to the Greeks.

      Today's poll gives a flavour of the public's disenchantment and scepticism: 65 per cent believe that the Government should stand firm against the unions, but 75 per cent believe that the Government will not have the bottle for it. The public smells a compromise, a murky surrender by Cowen that will unravel the public sector pay cuts in return for empty promises on reform.

      That cannot be allowed to happen. The cuts in public sector pay were a simple recognition of an even simpler fact: the country can no longer afford the public sector bill. It has to fall, and the numbers employed in the public sector have to fall. Reform is no longer a luxury item that can be offered as a bargaining chip in pay negotiations: it is an essential component in our slow climb back from the depths of depression to economic recovery.

      Thursday's figures, obscured by the game of politics that Cowen played with his Cabinet, underlined the seriousness of Ireland's predicament. The economy has shrunk back to 2003 levels, there is no prospect of a strong recovery, unemployment is forbiddingly high at more than 13 per cent and our national debt rises by the day. The only positive that Cowen can cling to is the decisiveness of last December's Budget, which told the world that we were prepared to deal with our own problems.

      That Budget was meant to show that Ireland had the inner strength to control its own finances: a fiscal plank on our route to safety. The second plank of that recovery strategy, championed by Brian Lenihan, the Minister for Finance, is a resolution of the banking crisis that has hung like a noose around the country for the past 18 months.

      On Tuesday, in what is promised to be a 'big bang' approach, Lenihan will tell the Dail how he plans to solve the crisis. Before he addresses the house, the National Asset Management Agency (Nama) will have announced details of its first purchases of loans from Ireland's banks. Lenihan will be able to reveal the scale of the discount that Nama has applied and from that he will be able to estimate the losses that all the banks will have to take when their loans are transferred. He will also be armed with a new set of rules from Matthew Elderfield, the Financial Regulator, on the amount of capital he will expect each bank to hold against future losses.

      Lenihan and Elderfield both expect the main banks to suffer further heavy losses from mortgage lending and want to prepare for the worst. The result will be quite shocking: a massive requirement for state funds to shore up the banks, pushing AIB close to full nationalisation and Bank of Ireland close to majority state ownership. On top of that comes the dreaded Anglo Irish Bank, whose losses are expected to top €12bn. It has already said that it requires a further €9bn of our money to stay alive, and more than twice that if we kill it.

      Lenihan's objective is to clear out all the bad news, draw a firm line under crisis and give the markets confidence that Ireland's second plank is in place. It is a bold move, but far better than drip feeding bad news over the coming months, or putting money into the banks and then having to put in more when mortgage losses start to mount. The initial shock will come from the vastness of the numbers: the scale of the banks' losses, the amount of public money required and, for the banks' shareholders at least, the size of the discount that Nama has decided to apply.

      But it will all count for little if, just as Lenihan lays down the second plank, Cowen starts to pull away the first, fiscal, plank. The two will only work together and there can be no rewriting of December's core budget strategy to buy off the public sector unions. Lenihan's bank resolution will also count for little if it is seen as an end in itself. Imposing order on the public finances and stabilising the banking sector are just the first steps, nothing more.

      No matter how hard or how painful, Ireland's competitiveness has to be restored and the cost and size of government have to be reduced. Reform, privatisation, downsizing of government departments, political regeneration and a determination to tackle costs and inefficiencies throughout the sheltered areas of the economy are absolutely essential.

      Recovery requires imagination and hard work, and Cowen seems incapable of either. His reshuffle was an insult to a people desperate for leadership: it was devoid of wit or bravery and only added to the sense of despair that grips the country. He is so far out of his depth, so unsuited to the challenges he faces, so trapped in the past that his very presence in government acts as a brake on recovery.

      Yet his own backbenchers only agitate against him when they are snubbed for promotion to the junior ranks of the cabinet, or when a Green TD gets to ride a government hybrid in their constituency, and the Greens cling to him like a limpet because he offers safe haven from the electorate.

      Cowen is central to our depression, figuratively and literally. He is the weak link in a pathetically weak Cabinet, the man whose timidity could unravel the one solid plank that his Government has managed to put in place since the economy collapsed.

      Last Thursday we saw the true extent of that collapse, from recession through to depression, with no end in sight. Yet the unions pretend that wage cuts can be reversed, Cowen encourages them by not disillusioning them and avoids taking the necessary steps towards recovery. He must be ousted, and fast.

      Sunday Independent
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      schrieb am 28.03.10 08:42:50
      Beitrag Nr. 141 ()
      Now would be a good time for a coup
      The Government is doing a fine job of writing the script for social implosion, writes Gene Kerrigan

      Sunday March 28 2010

      After the hammer blow delivered last week, we know that economic conditions will stay very bad for a lot of people for a very long time. The urge to see blue skies, hope and renewal is terribly seductive -- it has become part of the problem. There's evidence for two unsettling conclusions. One, the Government's current policies are making things worse. And, two, the Government intends to persist in those policies.

      Here are excerpts from Brian Lenihan's Budget speech on December 9: "We are now on the road to economic recovery . . . the Government's strategy over the last 18 months is working and we can now see the first signs of a recovery . . . we now have the confidence of knowing that our plan to return this country to prosperity is working . . . our strategy is on track."

      This wasn't the usual Budget Day bluster. Mr Lenihan knew the Government's policies were working because figures produced by the experts showed small but unmistakable signs of growth. "Recent indicators suggest that economic activity in this country is turning the corner," he said. His Budget would kick the bejayzus out of the working class, the middle class, the poor, the sick and the handicapped -- but, hey, it was "the last big push of this crisis".

      A lot of people bought it. For a start, it mostly hit the public service, and the media saw that as necessary. The media likes simple ideas. Truly hard choices would have required Mr Lenihan to tackle wealthy sectors that remain massively subsidised and protected. But those are tough guys, they fight back. Much easier to hit the vulnerable. (Meanwhile, two weeks later, hundreds of the highest-paid civil servants, the folks who tell Mr Cowen and Mr Lenihan what a good job they're doing, were quietly exempted from the cuts.)

      "We have in place a plan," said Mr Lenihan, "to take us forward on the path of sustainable economic growth. That plan is working." Behind him, Fianna Fail and Green TDs cheered and applauded. "Our plan is working," said Mr Lenihan, "We have turned the corner." Hallelujah, brother!

      Last week, the figures came in for the final three months of 2009. The year had been bad, but even as Mr Lenihan spoke the decline was accelerating. The 11.3 per cent fall in GNP for 2009 was the worst since Central Statistics Office records began.

      But, what about the figures from the experts, the green shoots of recovery? Well, those were preliminary, speculative figures, and only fools would jump to conclusions based on them. There is an abundance of foolishness in Mr Cowen's Cabinet.

      Mr Lenihan's response to last Thursday's devastating figures? "Today's figures," he said, "are consistent with my Budget Day projections."

      At around this point in the slide to disaster, in some countries small groups of army officers would already be having quiet conversations about whether it might not be their duty to mount a military coup, to save the nation to which their loyalty is pledged. Fortunately, respect for the pre-eminence of the civil power has taken firm root here over the past 90 years.

      When the wheels came off the wagon, 18 months ago, most governments decided on two responses. Bail out some banks and stimulate the economy. Figures from the 2009 report of the UN Conference on Trade and Development show that the average developed country used a massive 49 per cent of GDP to prop up financial institutions.

      The figures for the troubled countries with which we are most often grouped (Portugal, Italy, Greece and Spain) averaged 13 per cent. For Ireland, the figure is 266 per cent -- and no, that's not a misprint.

      Governments in the developed countries stimulated their economies by an average of 3.7 per cent of GDP. Here -- well, Mr Cowen and Mr Lenihan decided not to stimulate, but to deflate, and our figure is minus 8.3 per cent.

      So, we pour tens of billions into propping up dead banks (via Nama and recapitalisation), relieving all banks and all bondholders of incredible amounts of debt -- and loading it onto the public's back. Then, instead of stimulating the economy, we slash public services and public sector pay, in order to balance the books. This drives up unemployment.

      Why do this? Well, we dare not let a bank fail, the usual suspects explain. If we do, the Government will be unable to borrow from international investors.

      Who says? Alan Dukes, for instance. The ex-minister for finance who bailed out a reckless AIB in 1985? Yeah, that Alan Dukes. The guy who now heads Anglo Irish? Yeah, that Alan Dukes.

      These folk trot out unsourced, untested figures (about how it would cost too much to close down Anglo, for instance) and the media accept them, as though they are credible. There's a school of thought that says the whole basis of this policy is hogwash -- the markets have no memory, have no problem distinguishing private debt from sovereign.

      Meanwhile, the deflation policy destroys the spending power of public servants, resulting in the loss of thousands of private sector jobs. Cute.

      The urge to see blue skies, hope and renewal is stifling. It suggests there are able people at work, that we must suppress our scepticism -- we must accept the pain, in the sure and certain knowledge that we'll find salvation in the hereafter (ie as soon as Mr Cowen gets the deficit under control).

      Ain't gonna happen.

      The hope of a global recovery that will magically boost the Irish economy remains a hope. No recovery in sight. The government policy on unemployment is -- let it rip, it brings down wages. No amount of silly chirping about "innovation" and "the smart economy" means a damn. This is a broken country -- shattered by the greed of a few.

      Big problem -- during the Celtic Bubble, politicians and the media were prostrate in their respect for greed. They believed those people -- the Sean 'Seanie' FitzPatricks -- knew what they were doing. And the belief remains ingrained that only such "serious people" have the answers.

      It was FitzPatrick and gobshites like him who convinced Cowen and Lenihan to go down the road of unthinking, universal bank rescue. We are still on that road. It's not that Cowen and Lenihan are fools, it's just that every fibre of their being rejects the radical options necessary. It would be like expecting the Pope to do an advert for condoms -- ain't gonna happen. And in their gut, Fine Gael share that prejudice.

      Five more years of this and we'll be a child-rearing-and-exporting nation, dependent on the cheques the kids send back from the real world. And every spare cent will still be going to pay off the debts we're now accumulating to bail out the banks. Another five years of economic squalor and perhaps those army officers at last lose their patience. More likely, long before then there are violent, unfocused eruptions of public rebellion.

      Last week at the passport office there were scenes approaching hysteria -- mainly among the media. The media -- particularly RTE -- depicted a fight between afflicted civilians and spiteful public servants. In truth, this is what a collapsing economy looks like: confusion, fear, scapegoating, poorly directed anger.

      If a dissident group of armed head-bangers was writing the script for social implosion, they couldn't do a better job.

      Sunday Independent
      Avatar
      schrieb am 28.03.10 08:45:38
      Beitrag Nr. 142 ()
      Look back at the dumbest moments in Irish business
      Nick Webb revisits some of the most excruciating gaffes and cock-ups in the Irish business world over the last 12 months



      By Nick Webb

      Sunday March 28 2010

      THE unbelieveable stupidity unfolding at the Docklands Development Agency would make a great April Fool joke -- but it's all true. And it's not the only recent cock-up or blunder, as we reveal our third annual list of the dumbest moments in Irish business over the last year.

      Ulster Bank

      strippers

      Cormac McCarthy's Ulster Bank ended up cringing in horror when it discovered that it had been giving away tickets to an. . . er, "exotic dance" show to try to persuade freshers to open student accounts. The event in the Metro Bar in Tallaght, Dublin, was subsequently cancelled.

      Susan McKay, director of the National Women's Council of Ireland, described Ulster Bank's gimmick as another blot on the reputation of a bank that was already disgraced. Which was probably going a bit far.

      Airtricity goes Green

      Airtricity has built is brand up by positioning itself as a "green" energy provider. Power from windmills and the like and certainly no big, hulking, smoke belching power stations. Uh, oh.

      It emerged that 21 per cent of Airtricity's supply did not come from renewable or "green" sources, but was generated through burning fossil fuels. The company was banned from advertising using the word "green electricity" by the Advertising Standards Authority.

      Toyota

      The biggest recall of cars in history hit Ireland in February when Toyota was forced to ask customers to return 26,000 cars to be fixed because of a "a potential accelerator pedal issue". In other words the car wouldn't stop. Which is quite important. Decades of brand quality went up in smoke.

      National Day

      of Action

      Jack O'Connor and the other trade union top brass were left red-faced under their beards when the National Day of Action in November last year-- a public sector strike -- turned into the national day of shopping across the Border and mitching off. Pickets were manned early in the morning but by mid-afternoon the traffic queues outside Newry had grown spectacularly as strikers took the opportunity of a day off work to go north for cheaper groceries.

      The second day of action in December was quietly called off.

      C&C Results

      John Dunsmore and his new management team at cider company C&C must have been slapping each other on the backs after presenting results in July. After years in the doldrums, C&C was finally showing some growth.

      Except it wasn't. Some poor fool had pasted the wrong figures into the briefing notes for the suits. C&C told the market that sales had risen 5 per cent in the first four months of the year, when in fact sales had fallen 3 per cent.

      A red-faced Dunsmore admitted that incompetence, not malevolence, had led to the mistake.

      Johnny Ronan's road to Marrakech

      Ok, things probably weren't going terribly well in the property sector but did Johnny Ronan really need to draw attention to himself by getting kicked in the goolies by ex-girlfriend Glenda Gilson?

      Ronan shot off to Marrakech with former Miss World Rosanna Davison, on a holiday reportedly costing €60,000. Ronan's company Treasury Holdings was about to transfer a big pile of its loans over to Nama. Earlier this month he announced that he was standing down from Treasury Holdings for a "few months" because of the "distracting" media coverage of his personal life.

      Mary Coughlan . . .

      and Einstein

      We're really going to miss Mary Coughlan as she is reshuffled to the Education and Skills ministry. Here are two of her best gaffes.

      While presenting part of the government strategy for building Ireland's smart economy, Coughlan erroneously referred to the theory of evolution as having been formulated by Einstein. As any fule kno, it was Darwin.

      Mary Coughlan . . .

      and facebook

      It could have been many other foot-in-mouth moments. There was the Bord Snip Nua report not making any sense, or getting her Gaelige inside out when calling her government partners the Greens na Glasrai (vegetables). But we like the Facebook gaffe.

      When announcing a new bundle of jobs from the US social networking company Facebook, Calamity Coughlan told reporters that she wouldn't have a Facebook account because it would mean people would just snoop at her.

      Dumb ATM robbers

      In January a gang of bungling thieves stole a mini-digger and tried to make off with the Permanent TSB ATM at the Texaco service station on the Model Farm Road in Cork.

      There was no money in the machine as the ATM had been withdrawn from service a month earlier. There was a big "Out of Order" sign on it.

      DITZY SHERRY FITZ

      While the upward-only rent review system is bonkers, mobile phone retailer Carphone Warehouse got quite a shock when DTZ Sherry FitzGerald sent out a rent review notice for its outlet at the Wilton Shopping Centre in Cork.

      The rent was to rise from €39,000 to €205,000 a year -- or a hike of 425 per cent. The issue made the airwaves and DTZ Sherry Fitz blamed it on a typo.

      The worst is over

      Finance Minister Brian Lenihan announced that "the worst is over" when delivering the 2010 budget -- with its €4bn in cuts to social welfare, public-sector pay and capital projects.

      Unemployment continued to rise, businesses failed at an horrific rate and there's another €4bn in cuts coming in each of the next two budgets.

      MBNA credit cards

      Last December MBNA was forced to repay up to 500,000 of its customers a total of €18m for overcharging them in spectacular fashion.

      It was the biggest ever credit card cock-up in the country. The majority of customers were refunded an average of €38. And MBNA have terrible rates too.

      Comptroller & Auditor General's sums

      The Comptroller & Auditor General is the guy who does all the sums for the State to make sure that everything is spent as it should be.

      It audits all government bodies. In its lengthy review on the overspending and junketeering at Fas it revealed that another unnamed state body had taken 52 spouses away on a jolly at the taxpayer's expense.

      The hunt for the wasteful quango was front-page news for a week -- until the C&AG admitted that it was a bit wrong. The Central Bank, which had earlier denied all knowledge of the trip, had actually taken the spouses away but not all at the same time. Egg on faces all round.

      Nell on Newstalk

      Nell McCafferty appeared on Tom Dunne's show on Newstalk and made some quite spectacular allegations about Mary Harney. Spectacular and completely untrue.

      Newstalk has fallen over itself apologising and Harney's solicitors could be after their pound of flesh. Harney's 15-day junket to New Zealand while the HSE imploded over the Tallaght Hospital X-ray scandal was lost in the noise.

      Topaz DOES ITS BIT

      Topaz sells petrol. Driving around in cars isn't terribly good for the environment. That didn't stop the petrol station chain from advertising its "clean fuels". Unfortunately, the Advertising Standards Authority found that claims of clean fuel were nonsense and Topaz was forced to remove outdoor posters and forecourt messaging.

      BOI laser cards

      How often do the banks cock it up and overcharge customers? Does this happen in other countries quite so often?

      Close to 120,000 Bank of Ireland laser card customers were double-charged for purchases in September. And then the bank did it again the following month. AIB's sniggering at its rival's misfortune ended in February when it was found to have overcharged 40,000 of its own customers to the tune of €4m.

      Goodbody tips

      Bank of Ireland

      Last month the Sunday Independent revealed how AIB-owned Goodbody Stockbrokers switched all its discretionary clients out of Bank of Ireland into AIB shares in the heart of the financial crisis.

      Goodbody denied it was a "share support scheme". It found it harder to explain how its analysts had issued a report to its other clients tipping Bank of Ireland shares as a "buy".

      Hangar 6

      Ryanair's Michael O'Leary offers 500 jobs in return for the vast Hangar 6 in Dublin airport. Dublin Airport Authority and the then jobs minister Mary Coughlan sit on their hands and Aer Lingus refuses to move out of the often empty hangar.

      With the Government's 25 per cent stake in Aer Lingus pressure could have been exerted on the airline to budge. Nothing doing. The jobs go elsewhere.

      ESRI

      Economic think-tank ESRI produced a report into municipal waste for Dublin City Council. Catchily titled Further Issues in Municipal Waste Management Policy in Ireland, its main finding was that having an incinerator at Poolbeg would be brilliant.

      Except that the figures were completely nutty. The ESRI was forced to make a series of corrections. Isn't the ESRI the one that did the house price index too? Yikes!

      - Nick Webb

      Sunday Independent
      Avatar
      schrieb am 28.03.10 08:52:09
      Beitrag Nr. 143 ()
      Lenihan set to reveal the great bank recovery plan
      Will a new 'state of the nation' speech be enough to resurrect our battered economy, asks Louise McBride


      Sunday March 28 2010

      THIS Tuesday, the Finance Minister, Brian Lenihan, is expected to spill the beans on how much more money the Irish banks need to get back on their feet.

      D. ist der GRUND !!!

      Weitere 4 Mrd. !!!!!!!!!!!!!!!!

      In his "state of the nation address", Mr Lenihan will also reveal how the banks will go about raising this capital. It looks like Allied Irish Banks (AIB) will have to raise at least €4bn while Bank of Ireland (BoI) will have to muster up between €2bn and €3bn. This is no mean feat. Particularly when AIB and BoI have already got €3.5bn of taxpayers' money each -- while state-owned Anglo Irish Bank, which has devoured €4bn of taxpayers' cash, could need another €9bn to keep afloat.

      Nobody denies that the banks have milked it during the good times --and that a litany of errors on their part has largely brought this economy to its knees. But we need strong banks to have a strong economy -- so has the Government done enough to get our banks back on their feet?

      Despite the Government pouring €11bn of taxpayers' money into them, the banks clearly still have massive black holes in their balance sheets. As we own -- and it could cost us more to shut it down than to leave it open -- the Government will probably have to pour billions more into the beleaguered bank. Yet even if more taxpayers' money goes into Anglo, AIB and BoI, this is unlikely to resolve the banks' problems. Instead, much of our hopes have been pinned on our "bad bank", the National Asset Management Agency (Nama).

      Under Nama, the taxpayer is paying about €54bn to the banks for property-related loans. This week, Mr Lenihan is expected to reveal the extent of the discounts the banks will have to swallow when they transfer their loans across to Nama. The higher the discounts, the bigger the losses for the banks -- but if these discounts were kept too low, the bigger the potential loss for taxpayers -- and by consequence, our economy.

      Some are not convinced that Nama will sort out the problems of the Irish banks. "Nama will be a very painful, costly proposition for the Irish people," said Jim Power, chief economist with Friends First. "What is not included in Nama is the next two waves of bad debt -- developer and investment loans under €5m, and home loans. There are hundreds, if not thousands, of people who have invested in development land and property who are now bankrupt. These loans are not yet reflected in the banks' balance sheets."

      Neither are the loans of the 200,000 homeowners expected to be in negative equity -- where the value of their outstanding mortgage is greater than the value of their property -- by the end of this year. "There will be further losses on the cards for banks as a result," said Mr Power. "These are two issues that will have to be tackled very seriously over the next few years."

      Tony Foley, senior economics lecturer in Dublin City University, believes the Government's response to our banking crisis so far has been "poor". "It has been slow to realise the problem, slow to estimate the scale, slow to define solutions, dismal at explaining the problems to a sceptical public and slow to implement serious measures for facilitating credit," said Mr Foley. "This week, the Government must clearly identify the intended way forward for the banks -- whatever that is. It must avoid discussing this problem for the next six months and creating uncertainty. It must improve credit flow to suitable borrowers through a loan guarantee scheme."

      The banks are only one part of our economic jigsaw. Our public finances and national debt also need to be addressed. So too does our economic growth, which continued to lag in the last few months of 2009, according to official figures released last week. The figures found that the collapse of the Irish economy in 2009 was the largest decline ever recorded -- the unpopular decisions made in Mr Lenihan's latest budget were long overdue therefore. "But for last December's budget, we'd be up there with Greece," said Mr Power. "The Government's priority now is to hold firm on what it's doing. It can't afford any u-turns on the budget measures it is taking to control public spending and public pay."

      Among the unpopular decisions were social welfare cutbacks, and public service wage cuts of between 5 per cent and 10 per cent. "For the next three to four years, the Government must continue to push down current government spending," said Mr Power.

      Although much of the recommendations in the recent reports from An Bord Snip Nua report and Commission on Taxation have not been taken on board yet, it's unlikely to stay that way. A property tax could certainly be on the cards over the next few years, as well as water charges and a third rate of income tax for high earners. Last July, An Bord Snip Nua called for 17,300 public service job cuts. As many believe the recent bout of pay cuts go nowhere near tackling our massive public sector pay bill, the Government may soon have to grasp the thorn of job losses in the public sector. Whatever the Government dishes up over the next few years, it could be a last supper for many of us.

      Sunday Independent


      http://www.independent.ie/business/irish/lenihan-set-to-reve…
      Avatar
      schrieb am 28.03.10 08:57:01
      Beitrag Nr. 144 ()
      Lenihan set to reveal the great bank recovery plan
      Will a new 'state of the nation' speech be enough to resurrect our battered economy, asks Louise McBride

      Sunday March 28 2010

      THIS Tuesday, the Finance Minister, Brian Lenihan, is expected to spill the beans on how much more money the Irish banks need to get back on their feet.

      In his "state of the nation address", Mr Lenihan will also reveal how the banks will go about raising this capital. It looks like Allied Irish Banks (AIB) will have to raise at least €4bn while Bank of Ireland (BoI) will have to muster up between €2bn and €3bn. This is no mean feat. Particularly when AIB and BoI have already got €3.5bn of taxpayers' money each -- while state-owned Anglo Irish Bank, which has devoured €4bn of taxpayers' cash, could need another €9bn to keep afloat.

      Nobody denies that the banks have milked it during the good times --and that a litany of errors on their part has largely brought this economy to its knees. But we need strong banks to have a strong economy -- so has the Government done enough to get our banks back on their feet?

      Despite the Government pouring €11bn of taxpayers' money into them, the banks clearly still have massive black holes in their balance sheets. As we own -- and it could cost us more to shut it down than to leave it open -- the Government will probably have to pour billions more into the beleaguered bank. Yet even if more taxpayers' money goes into Anglo, AIB and BoI, this is unlikely to resolve the banks' problems. Instead, much of our hopes have been pinned on our "bad bank", the National Asset Management Agency (Nama).

      Under Nama, the taxpayer is paying about €54bn to the banks for property-related loans. This week, Mr Lenihan is expected to reveal the extent of the discounts the banks will have to swallow when they transfer their loans across to Nama. The higher the discounts, the bigger the losses for the banks -- but if these discounts were kept too low, the bigger the potential loss for taxpayers -- and by consequence, our economy.

      Some are not convinced that Nama will sort out the problems of the Irish banks. "Nama will be a very painful, costly proposition for the Irish people," said Jim Power, chief economist with Friends First. "What is not included in Nama is the next two waves of bad debt -- developer and investment loans under €5m, and home loans. There are hundreds, if not thousands, of people who have invested in development land and property who are now bankrupt. These loans are not yet reflected in the banks' balance sheets."

      Neither are the loans of the 200,000 homeowners expected to be in negative equity -- where the value of their outstanding mortgage is greater than the value of their property -- by the end of this year. "There will be further losses on the cards for banks as a result," said Mr Power. "These are two issues that will have to be tackled very seriously over the next few years."

      Tony Foley, senior economics lecturer in Dublin City University, believes the Government's response to our banking crisis so far has been "poor". "It has been slow to realise the problem, slow to estimate the scale, slow to define solutions, dismal at explaining the problems to a sceptical public and slow to implement serious measures for facilitating credit," said Mr Foley. "This week, the Government must clearly identify the intended way forward for the banks -- whatever that is. It must avoid discussing this problem for the next six months and creating uncertainty. It must improve credit flow to suitable borrowers through a loan guarantee scheme."

      The banks are only one part of our economic jigsaw. Our public finances and national debt also need to be addressed. So too does our economic growth, which continued to lag in the last few months of 2009, according to official figures released last week. The figures found that the collapse of the Irish economy in 2009 was the largest decline ever recorded -- the unpopular decisions made in Mr Lenihan's latest budget were long overdue therefore. "But for last December's budget, we'd be up there with Greece," said Mr Power. "The Government's priority now is to hold firm on what it's doing. It can't afford any u-turns on the budget measures it is taking to control public spending and public pay."

      Among the unpopular decisions were social welfare cutbacks, and public service wage cuts of between 5 per cent and 10 per cent. "For the next three to four years, the Government must continue to push down current government spending," said Mr Power.

      Although much of the recommendations in the recent reports from An Bord Snip Nua report and Commission on Taxation have not been taken on board yet, it's unlikely to stay that way. A property tax could certainly be on the cards over the next few years, as well as water charges and a third rate of income tax for high earners. Last July, An Bord Snip Nua called for 17,300 public service job cuts. As many believe the recent bout of pay cuts go nowhere near tackling our massive public sector pay bill, the Government may soon have to grasp the thorn of job losses in the public sector. Whatever the Government dishes up over the next few years, it could be a last supper for many of us.

      Sunday Independent
      Avatar
      schrieb am 28.03.10 08:59:56
      Beitrag Nr. 145 ()
      :eek:

      AIB looking down the barrel of majority state ownership



      By Joe Brennan

      Saturday March 27 2010

      EIGHTEEN months after the original banking guarantee, the Government has finally grown tired waiting for the country's banks to recapitalise themselves.

      The new sheriff in town on the financial regulatory front, Matthew Elderfield, has also upset the apple cart by demanding that the banks hit higher capital targets much more quickly than had been expected.

      It has been impossible up until this point for a bank to launch a 'rights issue' share sale -- as clarity over NAMA 'haircuts' and the financial watchdog's new capital requirements is only emerging now.

      As AIB faces the dire possibility of ending up with majority state ownership, questions will be asked as to whether earlier action could have avoided something neither the bank nor the Government wanted.

      Granted, resurgent asset prices in recent months mean that the AIB could now generate more for its stake in US bank M&T, UK business banking arm and -- at a push -- its 70pc-owned Polish unit Bank Zachodni WBK than it would have done late last year. But everyone may have run out of time instead.

      AIB boss Colm Doherty laid out his stall clearly earlier this month, as AIB unveiled full-year loss of €2.6bn.

      Foreign assets would be flogged in the first instance, before the bank approached shareholders for cash. Going back to the State was the last resort.

      It is a plan that captured the confidence of investors -- with the shares shooting up 70pc in the space of four weeks to €1.70.

      Sentiment had also been helped as a subordinated bond restructuring, completed last week, brought in €445m of much-needed equity.

      It is hard not to think that the protracted war between AIB and the Government over the appointment of Colm Doherty may have contributed to the country's biggest bank actually looking down the barrel of state control.

      - Joe Brennan

      Irish Independent
      Avatar
      schrieb am 29.03.10 20:11:14
      Beitrag Nr. 146 ()
      14:34 Uhr


      Allied Irish und Bank of Ireland unter Beschuss

      Thorsten Küfner
      Die Aktien der beiden angeschlagenen Banken Allied Irish und Bank of Ireland geraten im heutigen Handel unter die Räder. Grund sind Spekulationen über weitere Staatshilfen für Allied. Sollten Anleger die Kursschwäche nun zum Einstieg nutzen?

      Ein schwerer Tag für die Aktionäre der Allied Irish Banks: Die Anteile der angeschlagenen irischen Großbank brechen im heutigen Handel um rund 20 Prozent ein. Im Sog der Allied Irish Banks verbilligen sich auch die Papiere des Konkurrenten Bank of Ireland deutlich. Der Grund für die Kursrückgänge sind Meldungen, wonach der Staatsanteil an Allied Irish Banks weiter angehoben werden könnte. So könnte die Regeierung dem Institut eine weitere Kapitalspritze gewähren, um weitere Kreditausfälle auffangen zu können.



      Bad Bank in den Startlöchern

      Indes soll Finanzminister Brian Lenihan morgen den Plan zur Gründung einer Bad Bank vorstellen. Die Bad Bank soll faule Kredite im Volumen von 80 Milliarden Euro (rund die Hälfte des irischen Bruttoinlandsprodukts) aufkaufen. Die beteiligten Banken könnten allerdings weitere Abschläge auf ihre Bilanzwerte hinnehmen müssen, weshalb die Eigenkapitalbasis der Kreditinstitute zunächst weiter unter Druck geraten könnte. Einige Experten rechnen daher mit einer weiteren Kapitalspritze für Allied Irish Banks, wodurch der Staatsanteil auf 70 Prozent ansteigen könnte. An der Bank of Ireland hält der Staat derzeit knapp 40 Prozent.



      Nur für Mutige!

      Es ist derzeit nur sehr schwer abschätzbar, ob und wann die beiden irischen Großbanken wieder schwarze Zahlen schreiben können. Analysten rechnen im Durchschnitt für 2012 erstmals wieder mit einem geringen Gewinn bei beiden Geldhäusern. Das Erholungspotenzial der beiden Bankaktien ist angesichts des drastischen Kursverfalls und der starken Kundenbasis enorm. Aber aufgrund der immensen Altlasten der Krise, der Gefahr von weiteren Preisrückgängen auf dem irischen Immobilienmarkt und der Unsicherheiten über die weitere konjunkturelle Entwicklung Irlands bleiben die Papiere von Allied Irish und der Bank of Ireland nur etwas für hartgesottene Anleger mit einem langem Atem.

      Das Kursziel der Allied-Irish-Aktie lautet 2,00 Euro, der Stoppkurs sollte bei 0,90 Euro platziert werden. Das Kursziel der Anteile der Bank of Ireland beträgt 1,80 Euro, der Stoppkurs sollte bei 0,85 Euro platziert werden.

      http://www.deraktionaer.de/xist4c/web/Allied-Irish-und-Bank-…
      Avatar
      schrieb am 30.03.10 07:30:03
      Beitrag Nr. 147 ()
      Q&A


      SIMON CARSWELL Finance Correspondent

      Today is the first day in a series of reckonings for Nama. Here is an overview of what is involved

      So what is going to happen today with the banks?

      The National Asset Management Agency (Nama) is going to announce at 4.30pm today that it has started buying the first tranche of loans from Irish Nationwide Building Society and EBS building society, and that it will buy the first loans from Bank of Ireland at the end of this week.

      It will reveal the discount paid on a total of about €3.25 billion in loans bought from the three – about €900 million from Irish Nationwide in the first tranche, €150 million from EBS and about €2.2 billion from Bank of Ireland.

      In a subsequent statement, the Financial Regulator will reveal the higher capital thresholds that the banks must reach by the end of this year to absorb losses incurred from the Nama transfers as well as the expected stress-case losses on their non-Nama loans.

      Minister for Finance Brian Lenihan will then tell the Dáil at 6pm how much capital each of the five financial institutions participating in Nama – State-owned Anglo Irish Bank, Allied Irish Banks (AIB), Bank of Ireland, Irish Nationwide and EBS – will require and the level of ownership the State will take in the ones it does not already own in full.

      So how much capital will the banks need?

      It depends on the losses incurred on Nama, the expected losses on the non-Nama loans at the banks – including mortgages, business loans and personal loans – and how much they need to reach the regulator’s capital thresholds.

      Estimates vary from €16 billion to €18 billion. This is on top of €11 billion already invested in Anglo, AIB and Bank of Ireland. This would bring the running cost of the capital bailouts for the banks to more than €27 billion.

      Will the new capital injections lead to the State effectively nationalising more institutions?

      Probably. Given the higher-than-expected “haircuts” on Nama loans at AIB and Irish Nationwide, the State could in effect take control of the two institutions. The State may end up taking a significant majority stake in AIB and a larger minority in Bank of Ireland, as well as effective control of EBS.

      Will the injections lead to the Government’s aim of getting the banks lending more?

      This remains to be seen. The Government will be adamant that it will, as it believes properly recapitalised banks can offer more loans to households and companies as they will not have to hoard capital any longer.

      The Minister and the regulator would argue that, by recapitalising the banks in full, they will be able to borrow more in the international wholesale markets at lower rates. This would in turn make the banks healthier by generating higher profits as they would not have to keep paying over the odds for deposits and wholesale money.

      The Government would also argue that, with the banks recapitalised to a level that will inspire greater confidence, the institutions will be able to raise more money without relying on the expensive State bank guarantee. This would help wean them off State support, reducing taxpayers’ exposure to the banks.

      What happens now?

      Once the first tranche of loans start moving into the agency this week from Irish Nationwide, EBS and Bank of Ireland, Nama will turn its attention to AIB and State-owned Anglo Irish, which are moving the largest loans in the first transfers – €3 billion and close to €10 billion respectively. Some €17 billion out of €81 billion will transfer in the first tranche.

      We won’t know until all the loans are moved by the end of this year whether the 30 per cent average discount estimated is correct or whether it will be higher. Nama will start writing to the top 10 developers this week asking them for business plans. They will have 30 days to submit plans and the agency will decide to support them or foreclose.
      Avatar
      schrieb am 30.03.10 07:30:59
      Beitrag Nr. 148 ()
      The Irish Times - Tuesday, March 30, 2010
      Banks will need up to €22bn for losses and new capital rules


      SIMON CARSWELL, CIARÁN HANCOCK, LAURA SLATTERY and HARRY McGEE

      IRISH BANKS will require up to €22 billion to cover losses on property loans moving to the National Asset Management Agency (Nama) and higher future losses on other loans as they meet strict new rules set by the Financial Regulator, The Irish Times has learned.
      However, not all of this requirement will involve direct investments from the State, sources close to the process stressed. Some of the money will come from asset sales by the financial institutions.

      The State will also convert some of its existing €7 billion indirect investments in the State’s two largest banks, Allied Irish Banks (AIB) and Bank of Ireland, into direct stakes.

      This will dilute the investments of existing shareholders and possibly lead to the State taking majority ownership of AIB and a minority shareholding in Bank of Ireland.

      AIB requires some €6 billion to €7 billion, while Bank of Ireland will need €2.5 billion to €3 billion.

      Irish Nationwide will require well in excess of the €2 billion it had first estimated and possibly close to €3 billion, while rival building society EBS is expected to need between €750 million and €850 million.

      Both building societies will end up in effective State control as they are relying solely on the Government for investment to keep them afloat.

      State-owned Anglo Irish Bank has said it will need an additional €6 billion to €9 billion, on top of €4 billion already invested by taxpayers.

      On the eve of today’s series of major announcements on the future of five key financial institutions, Minister for Finance Brian Lenihan said Nama had allowed the Government to quantify the “black holes” at the banks caused by toxic property loans.

      He said he would unveil a recapitalisation plan for the banks today that would draw a line under the financial crisis “once and for all”.

      Fianna Fáil TD Ned O’Keeffe criticised Mr Lenihan, saying that Nama would not work and would destroy the banking system. He argued that AIB should remain in private hands.

      AIB’s capital requirement is far higher than previously thought, reflecting a higher discount being applied to its loans moving into Nama and the stress tests applied to the bank’s remaining loans.

      The regulator will demand that the banks meet a core equity ratio of 7 per cent by the end of this year, undermining AIB’s “self-help” options to raise cash from shareholders or outside investors, or by selling its foreign businesses.

      The higher ratio, which boosts the banks’ most loss-absorbing capital buffers, is being applied across the Irish-owned banks as the regulator forces them to set aside more cash to cover likely and stress-case losses.

      Details of the recapitalisation of the banks will be announced this evening in the Dáil by Mr Lenihan.

      Nama will release details of the discounts on the first loans transferred from the institutions before the Minister’s statement.

      Irish Nationwide and EBS will transfer the first loans today.

      The regulator waived capital rules for EBS, allowing it to incur losses on transferring Nama loans this week and to fall below the minimum capital levels until May 31st.

      Nama’s statement will be followed by a statement from the regulator detailing new capital rules.

      AIB will move €23 billion in loans to Nama, of which about €3 billion will be in the first tranche of loans owing by the 10 biggest borrowers.

      A discount of 40-50 per cent is expected to be applied to the bank’s first loans moving to Nama. The discount on the first loans from Bank of Ireland and EBS will be about 35 per cent, while Irish Nationwide will face a discount of up to 60 per cent. Shares in the two big banks fell sharply following reports that the State could take a stake of more than 70 per cent stake in AIB and 40 per cent of Bank of Ireland following the recapitalisation.

      Bank of Ireland will try to keep the State’s stake below 40 per cent by raising cash from shareholders and another restructuring of its debts.

      The State owns all of Anglo Irish, has an indirect stake of 25 per cent in AIB and an effective stake of 34 per cent in Bank of Ireland.

      The final figures relating to the recapitalisation and the Nama loan discounts were being worked on last night between the Government, the institutions, the regulator, Nama and the National Treasury Management Agency, which is leading the recapitalisation programme for the State.

      AIB yesterday raised its variable mortgage interest rates in a well-flagged move, saying it was no longer sustainable for the bank to continue losing money on its home loans.

      The half-point increase on AIB’s standard variable rate, which has risen to 2.75 per cent, will add €78 a month on a €300,000 mortgage with a term of 30 years.

      Mr Lenihan said that the move was necessary due to the bank’s cost of funding. “It’s yet another example of why we have to put our banks into the right shape. And that’s what tomorrow’s announcement is about.”

      Visit irishtimes.com/business for full coverage of today’s Nama’s statement and Minister for Finance Brian Lenihan’s announcement

      http://www.irishtimes.com/newspaper/frontpage/2010/0330/1224…
      Avatar
      schrieb am 30.03.10 07:50:01
      Beitrag Nr. 149 ()
      The Irish Times - Tuesday, March 30, 2010
      Equities rise while strong miners offset weak banks

      EUROPE REPORT: Eurostoxx 50: 2,947.49 (+6.55) Frankfurt Dax: 6,156.85 (+36.80) Paris CAC: 4,000.65 (+11.73)

      EUROPEAN SHARES ended higher yesterday, with miners supported by strong metal prices offsetting weaker banks, while Vodafone rose on reports of talks with US partner Verizon over dividend payments.

      The pan-European FTSEurofirst 300 index of top shares closed 0.2 per cent higher at 1,079.24 points.

      The index posted its fourth weekly gain last week, and is on track to post a rise of more than 7 per cent in March. Analysts expected equities to be well supported as the end of the first quarter looms, but they warn that some consolidation could be expected in the coming weeks following recent strong gains.

      Miners were in demand as metals prices rallied. Copper hit its highest in about three months as the dollar softened, while expectations of stronger demand from China lent additional support to prices.

      Anglo American, Kazakhmys, BHP Billiton, Xstrata and Rio Tinto added 0.5 to 3.2 per cent.

      Vodafone was 3 per cent higher after the Sunday Telegraph reported the firm was holding talks with US joint-venture partner Verizon Communication over the payment of a dividend. A Vodafone spokesman declined to comment.

      Some concerns over sovereign debt problems eased as Greece launched a seven-year, €5 billion benchmark bond, returning to capital market for the first time since euro zone leaders agreed to give it a financial safety net.

      Across Europe, the FTSE 100, Germany’s DAX and France’s CAC 40 advanced 0.1 to 0.6 per cent.

      Banks were lower. Barclays, HSBC, Lloyds Banking and Commerzbank and Deutsche Bank shed 0.1 to 1.8 per cent. Allied Irish Banks and Bank of Ireland fell 19.6 and 10.4 per cent, respectively, as the government prepared to take control of a much bigger chunk of the financial sector than initially planned.

      In New York, Citigroup dropped 3.5 per cent after the US Treasury said it plans to sell all of the 7.7 billion Citi shares it owns over the course of this year, unloading its stake in the banking group two years after rescuing it.

      On the macroeconomic front, euro zone economic sentiment increased slightly more than expected in March and inflation expectations also rose. – (Reuters)
      Avatar
      schrieb am 01.04.10 08:02:24
      Beitrag Nr. 150 ()
      The Irish Times - Wednesday, March 31, 2010
      Government took far too long to repair the banks



      BACKGROUND: The US and UK took quick action at the start of the recession, while we procrastinated, writes SIMON CARSWELL Finance Correspondent

      IT WAS 18 months ago yesterday that the Government introduced a blanket guarantee for the domestic banks, enabling the six institutions to fund themselves. While this restored vital oxygen to the suffocating banking sector, the underlying condition of the patients is only now being fully diagnosed and treated.

      Banks in the US and UK are well on the road to recovery because they have either repaid their state aid or are in advanced planning to do so.

      The Irish Government is still pumping money into banks. So why has it taken so long?

      The Government’s two previous attempts to recapitalise our two main banks, Allied Irish Banks (AIB) and Bank of Ireland – in December 2008 and February 2009 – proved inadequate, failing to address the realistic scale of the losses due to the property crash and the worst recession since the foundation of the State in 1922.

      Delays in designing and building the complex National Asset Management Agency (Nama) – devised to purge the banks of their toxic loans – stalled progress. The plan to transfer about €81 billion in loans – at a discount – was aimed to call losses at the banks, who had refused to acknowledge them. But Nama has missed repeated deadlines.

      Yesterday’s announcements from Minister for Finance Brian Lenihan and the Financial Regulator that the five Nama participating lenders would need an additional €21.8 billion in cash will effectively bring the Government to a point many feel it should have reached a year ago.

      While some of this cash may be generated by the lenders, much of it will come from the State.

      Mr Lenihan said that it was “probable” that the State would take a majority stake in AIB and expects to remain a minority shareholder in Bank of Ireland by converting more of its existing €3.5 billion investment in the bank into a direct stake.

      This is similar to the position the UK has found itself in but which it reached in almost half the time – majority ownership of one of its largest banks, RBS, and a minority stake in another, Lloyds.

      The €2.6 billion required at Irish Nationwide and €875 million at EBS effectively brings the building societies into State ownership, joining Anglo Irish Bank as nationalised lenders.

      This has been a slippery slope for the Government to this point. Part, majority or full nationalisation of the country’s three biggest banks – AIB, Bank of Ireland and Anglo Irish Bank – was always on the cards given their collective €45 billion exposure to the toxic development sector, never mind mounting losses on loans to other faltering sectors of the economy.

      The three had a core of just €19 billion in reserve this time last year to cover their massive losses.

      The Government’s decision in February 2009 to pump cash into AIB and Bank of Ireland, by way of preference shares on a €3.5 billion investment in each (and not by direct ownership), was curious given that losses should have been borne by shareholders.

      Mr Lenihan sought to avoid greater nationalisation of the banking sector after taking over Anglo in January 2009. He gave banks the chance to raise more cash on their own, to avoid majority or full nationalisation.

      Inevitably, this plan failed and given the €7.4 billion required at AIB, majority State ownership looks inevitable as the sale of its UK, US and Polish interests will only raise about €4 billion.

      Bank of Ireland is in better shape but will try to keep State ownership below 40 per cent.

      Prof Patrick Honohan, an expert in banking crises, warned against using Nama to recapitalise the banks last May, four months before he took over as governor of the Central Bank. His arrival in Dame Street, followed by the appointment of a new regulator Matthew Elderfield in January, brought fresh momentum.

      Both chose not just to consider the impact of the Nama losses, but stress-tested the non-Nama loans and set the capital bar higher for the banks in preparation for yesterday’s recapitalisation plan.

      AIB’s foot-dragging in the run-up to the announcement – where once again the recalcitrant bank sought to resist Government plans for its rescue – is understandable given how much it is set to lose following yesterday’s announcement.

      Now the bank looks like it will have to cede a majority stake to the State. This is not surprising given that AIB had a higher level of exposure to the noxious development sector than Anglo.

      The prolonged repairs at AIB and Bank of Ireland contrast with the relatively speedy changes and realistic, but difficult, loss assessments taken by the new management at Anglo, in situ for just over three months.

      This point could have been reached far sooner had Mr Lenihan installed his own managers across the other banks – or at AIB at the very least – 18 months ago after the guaratee.

      One benefit of this drawn-out process is that Mr Lenihan has bought time and stabilised public finances, enabling him to write a far bigger cheque than the €11 billion already written to bail out the banks and lower the risk of spooking the omnipotent bond markets he so fears. But this “shock and awe” bank recapitalisation plan has come many months too late.
      Avatar
      schrieb am 01.04.10 08:03:02
      Beitrag Nr. 151 ()
      The Irish Times - Wednesday, March 31, 2010
      AIB must raise €7.4bn in extra capital by end of year


      SIMON CARSWELL Finance Correspondent

      ALLIED IRISH Banks (AIB), the State’s largest bank, faces the prospect of majority State ownership to fill a larger than expected capital hole of at least €7.4 billion identified by the Government and Financial Regulator at the lender.

      Nama applied a discount of 43 per cent on the first €3.3 billion loans moving from the bank – well above the consensus 35 per cent estimate by analysts.

      The bank has been given until the end of the year to raise sufficient capital from private means or else cede a significant majority stake to the Government.

      Minister for Finance Brian Lenihan said the bank would need “at least” €7.4 billion. The bank would immediately start selling its overseas assets – its UK business, its 25 per cent share in US bank MT and Bank Zachodni WBK in Poland, all to be disposed of before the end of the year.

      Analysts estimate that the assets could raise between €4 billion and €4.5 billion in capital.

      “The disposal proceeds will provide sufficient capital, but it will not be sufficient to address the full requirement,” said Mr Lenihan. If the remaining deficit was not filled privately, the Government was willing to convert “some or all” of the State’s €3.5 billion preference shares into a direct stake.

      Mr Lenihan said no new State investment may be required at AIB depending on the capital raised through private means.

      He said AIB must provide a capital-raising plan for the regulator by the end of the month.

      Shares in AIB fell 9 per cent to €1.25 yesterday, giving the bank a market value of €1 billion. At this level any State injection would give it a significant majority stake.

      Mr Lenihan said the bank would be given the opportunity to raise private capital, but, if insufficient amounts were raised, “it is probable that the State will have a majority shareholding in AIB as a list entity”. This means the bank will not be fully nationalised.

      “This is much more preferable than an undercapitalised or only adequate capitalised entity.”

      Nama said in a separate statement that the first tranche of loans would be transferred from AIB by early April. The bank is selling loans with a face value of €3.3 billion to Nama in the first wave, for which it will receive €1.9 billion.

      This represents a loss of €1.4 billion on this tranche of loans and a haircut of 43 per cent. The bank is transferring a total of €23 billion.

      AIB managing director Colm Doherty said in a circular to staff yesterday evening that he still felt the bank’s “self-help” plan of selling assets and raising cash from shareholders and investors would “achieve significant results”.

      It was “extremely disappointing” that AIB would have to sell its UK, US and Polish assets, and “unsettling news” for staff working in those businesses.

      “The unprecedented events of the past couple of years have left many individuals and organisations, both in this country and throughout the world, having to take radical action to secure their future. And, as a result both of our excessive exposure to Irish land and property development and the impact of other worldwide events, we must now do the same.”
      Avatar
      schrieb am 01.04.10 08:03:41
      Beitrag Nr. 152 ()
      The Irish Times - Wednesday, March 31, 2010
      Competition ruling on plans for Anglo and Nationwide due today


      ARTHUR BEESLEY European Correspondent

      EUROPEAN COMMISSION: THE EUROPEAN Commission’s powerful competition division is set to hand down its ruling today on restructuring plans from the nationalised Anglo Irish Bank and the Irish Nationwide Building Society (INBS).

      In decisions that will be a key test of the Government’s bank restructuring plan and may provide pointers for an assessment of proposals from Bank of Ireland and Allied Irish Banks (AIB), it will set out how the two institutions should be reconfigured in the light of the State aid they are receiving.

      The commission declined to comment on its scrutiny of the plans from Anglo and INBS. Ahead of unveiling of the bank package last night by Minister for Finance Brian Lenihan, a commission spokesman said the Government’s proposals would not delay its examination of the restructuring plans for Irish institutions.

      “We have been in close touch with the Irish authorities concerning the announcement they are due to make this evening and the commission’s review of the restructuring aid for various Irish banks continues apace,” the spokesman told reporters.

      The commission – which keeps strict control over all State aid, merger and anti-trust decisions – approved the Nama scheme last month.

      As officials are working within a rules-based system, their decisions in similar restructuring cases are likely to be echoed in their rulings on Anglo and INBS. In the case of the nationalised British lender Northern Rock, for example, the commission approved a restructuring package last October.

      Inasmuch as it embraced a division of Northern Rock into a “good” and a “bad” bank, the plan bore a similarity to the restructuring proposal from Anglo.

      In addition, regulatory derogations given to Northern Rock in Britain have essentially set precedents for some of the derogations enjoyed by Anglo.

      The commission stressed when approving the Northern Rock restructuring plan that the aid package in the revised restructuring package from the British government be kept to a necessary minimum. This will be a crucial concern in Anglo’s case, given the bank’s demand for a fresh capital injection from the State of up to €9 billion.
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      schrieb am 02.04.10 10:14:50
      Beitrag Nr. 153 ()
      Value of AIB holding in Polish unit jumps €400m

      Friday April 02 2010

      THE value of Allied Irish Banks' stake in its Polish unit has jumped almost €400m in the past two days.

      Shares in Bank Zachodni climbed to a two-year high yesterday on speculation that whoever buys AIB's 70pc stake will pay more than the market price or be forced to bid for the entire bank.

      Zachodni shares jumped as much as 4.9pc in Warsaw yesterday, heading for the highest close since January 2008 and valuing AIB's share in the Polish bank at around €2.6bn.

      Yesterday's gains followed a 4pc advance the previous day as investors welcomed news that AIB also plans to sell its US and UK units.

      "Investors are betting that a new owner will have to pay a premium for control," said Tomasz Bursa, a Warsaw-based analyst at Ipopema Securities. "There may be a large group of potential buyers as Poland is an attractive market."

      "Many" banks are interested in AIB's 70pc stake, Zachodni boss Mateusz Morawiecki said on Wednesday.

      Law

      Banks such as Societe Generale, BNP Paribas and HSBC may be interested in Zachodni. Under Polish law an investor who buys more than 66pc of a publicly traded company must bid for the rest of the shares.

      Polish lenders are benefiting from economic growth in the only European Union country that made it through last year's global slump without contracting. The economy may expand 3pc in 2010, according to a government forecast.

      AIB's plan to sell its stake would have "no immediate impact" on Zachodni's rating, Fitch Ratings said yesterday.

      "This is the most interesting bank that could come on the market in Poland. It's got a decent size, critical mass, a good deposit base, and it's active in an interesting, economically strong region. It has a good branch network and management."

      The bank had assets of €13.2bn at the end of 2009. It made a profit of €196m last year, down from €263m in 2008.

      Irish Independent
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      schrieb am 02.04.10 10:17:11
      Beitrag Nr. 154 ()
      Lenihan refuses to hand over official documents



      By Michael Brennan Political Correspondent

      Friday April 02 2010

      THE Government has refused to hand over all the documentation about its controversial decision to keep Anglo Irish Bank afloat with billions of euro of taxpayers' funds.

      Finance Minister Brian Lenihan offered to provide the opposition parties with assistance from his officials to evaluate any alternatives they had, or to get Anglo Irish Bank to appear before an Oireachtas committee. But, noticeably, he did not offer to give the opposition any of his department's own documentation.

      He stood over the Government's decision to commit €22bn in funds to Anglo to keep it going, saying to shut it down would cost €70bn. "We would all like to see the back of this institution. It's not possible," he said. It came as Tanaiste Mary Coughlan joined Mr Lenihan in her condemnation of the "appalling" practices at Anglo Irish Bank, which is owed €155m by its former directors.

      But Labour TD Pat Rabbitte said the Government had to produce "evidence" rather than "assertions" to justify its decision to keep Anglo Irish Bank in existence. He said it could cost the Government almost as much as the €39bn it planned to spend on the capital programme over the next seven years.

      "Ordinary people cannot understand why the Government would want to commit almost €40bn to the 'Casino Royale' on Stephen's Green (the Anglo headquarters)," he said.

      Fine Gael finance spokesman Richard Bruton pointed out that 70pc of the State's recapitalisation funds were going into Anglo -- which, unlike AIB and Bank of Ireland, had no plan to lend to small and medium-sized businesses. "It will not lend a red cent other than to those it is already supporting and to whom it has recklessly lent money," he said. Fine Gael deputy finance spokesman Kieran O'Donnell also questioned the Government's decision to support Anglo.

      Mr Lenihan denied claims that he had made a "secret agreement" with the European Commission several months ago to pump the €8.3bn into Anglo, saying that the final decision had not been made until last Tuesday morning.

      During a two-hour Dail session on the banking crisis yesterday, there were complaints about the fact that three former executives at Anglo -- Sean FitzPatrick, David Drumm and Willie McAteer -- had benefited from €2m in bonuses, salary payments and redundancy payments before they left.

      Sinn Fein TD Caoimhghin O Caolain told the Dail that the Ernst and Young firm which had given Anglo Irish Bank's accounts a "clean bill of health" was now involved in evaluating loans for NAMA.

      Mr Lenihan said he agreed that the matters required "full scrutiny" due to the dramatic change that took place after Anglo Irish Bank was taken over by the State.

      "The matters are serious and will require investigation both by the accountancy bodies and the banking inquiry which is under way and which will account to this House," he said.

      - Michael Brennan Political Correspondent

      Irish Independent
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      schrieb am 02.04.10 19:08:09
      Beitrag Nr. 155 ()
      01.04.2010 14:28
      JPMorgan belässt Allied Irish Banks auf 'Underweight'

      http://www.finanznachrichten.de/nachrichten-2010-04/16530894…
      Avatar
      schrieb am 02.04.10 19:18:14
      Beitrag Nr. 156 ()
      01.04.2010 15:07
      SocGen senkt Allied Irish Banks auf 'Hold' - Ziel 1,35 Euro

      http://www.finanznachrichten.de/nachrichten-2010-04/16531424…
      Avatar
      schrieb am 02.04.10 19:18:53
      Beitrag Nr. 157 ()
      01.04.2010 18:54
      BRIEF-S&P Equity raises Allied Irish Banks target price

      http://www.finanznachrichten.de/nachrichten-2010-04/16534254…
      Avatar
      schrieb am 06.04.10 08:11:46
      Beitrag Nr. 158 ()
      The Irish Times - Saturday, April 3, 2010
      Exchequer figures a mixed bag but everything hinges on forecast recovery

      ANALYSIS: A recovery will set this year’s budget broadly on target, but if it does not materialise we are in a whole new ball game, writes PAT McARDLE

      THE EXCHEQUER returns usually issue on the second working day after the end of the quarter.

      Yesterday, the Department of Finance broke with tradition and released them at 2.30pm on Good Friday, perilously close to the 3pm religious deadline. John Charles McQuaid must be turning in his grave.

      When I joined the department in the late 1960s, the press conference took place at 7pm on the last working day of the quarter.

      The minister was Charles J Haughey and the secretary general was T K Whitaker – nowadays they would be known as Charlie and Ken.

      This was a pre-computer era and the numerous ledgers were maintained by hand. On the evening in question, a frantic balancing of the books took place after the banks closed.

      The whole situation was fraught because Haughey did not welcome delays and the boss did not tolerate mistakes. We quickly became numerically proficient in a way that today’s school-leavers can only dream of.

      Subsequently, the department moved to the arrangement that existed until yesterday and to which they will no doubt return once Easter is out of the way. The bottom line is that productivity is still less than it was in the good old days.

      At first glance, the returns are a mixed bag. Tax revenues undershot by €266 million but spending was behind profile by an even larger €314 million and the exchequer borrowing requirement (EBR) was a moderate looking €3.9 billion (see table).

      This prompted Minister for Finance Brian Lenihan to say the figures were generally in line with expectations and to leave the estimate for the 2010 EBR unchanged at €18.8 billion. This was better news than might have been expected given the weakness of the economy in recent times.

      The current and capital spending shortfalls essentially reflect timing issues which should be made good as the year progresses. It is too early to call but a betting man would have a small wager that capital spending might again come in below budget.

      Debt interest, too, is below target but the National Treasury Management Agency (NTMA) has a history of erring on the cautious side and the spreads are moving in our favour. Overall, it is likely that there will be savings of a few hundred million this year.

      Relevant in this regard is the fact that the recent National Asset Management Agency (Nama) announcements added nothing to this year’s borrowing requirement. This is because Nama is a separate off-balance sheet operation designed to be self-financing, with the loans it buys from the banks being paid for by bonds issued by it, effectively IOUs.

      The capital needs of Allied Irish Banks and Bank of Ireland will not impact much on the exchequer, unlike Anglo Irish Bank and Irish Nationwide Building Society, which will need very substantial funds but the drawdowns will be spread over a 10 to 15-year period, starting next year.

      The upshot is that there is no immediate impact on the 2010 EBR, a point that got lost in the turmoil following the recent announcement.

      This brings us to the revenue side of the equation. The simple approach would be to multiply the first-quarter shortfall by four to get a full-year undershoot of €1.1 billion.

      The department noted that €100 million of the first-quarter shortfall was corporation tax, which they discount. This is because only 7 per cent of the corporation tax estimate is collected in the first quarter and one big company payment can skew matters.

      However, there is no getting away from the fact that both income tax and VAT are below target and this is a concern.

      Many of the smaller tax heads have a minus sign also. If the pattern of the first quarter were to continue, it is likely that tax revenue would, in fact, undershoot by a billion over the year as a whole.

      Like most economic forecasters, the department has allowed for a gradual improvement as the year progresses. The reality may be better or worse than the trajectory they have assumed.

      Recent straws in the wind such as new car sales and the Manufacturing Purchasing Managers’ Index for March point to an early improvement.

      However, more important information on activity in the services and export sectors will need to confirm this. At this stage the Minister is probably wise not to publish any revisions. Everything hinges on the forecast recovery. If it materialises this year’s budget will be broadly on target. If it does not materialise, we are in a whole new ball game.

      Finally, the returns confirm that the NTMA raised just over €10 billion from bond sales, or half the full-year requirement. This is a real achievement and the latest Nama announcement is getting a positive reception abroad which can only help.

      About €0.75 billion was used to pay down short-term debt, leaving €9.25 billion available to the exchequer.

      The EBR absorbed €3.9 billion and the remaining €5.3 billion went to top up surplus balances or rainy day money already in the exchequer.
      Avatar
      schrieb am 06.04.10 08:12:28
      Beitrag Nr. 159 ()
      The Irish Times - Saturday, April 3, 2010
      Glass bottle site given 87% Nama 'haircut'

      SIMON CARSWELL, Finance Correspondent

      THE NATIONAL Asset Management Agency (Nama) has applied a “haircut” of 87 per cent to the loan provided by Anglo Irish Bank to buy the controversial Irish Glass Bottle site in Ringsend, Dublin in a €412 million transaction in 2006.

      The loan will be among the first tranche of €10 billion in assets moving to Nama from the State-owned bank next weekend. Anglo and Nama had no comment to make the haircut or the transfer.

      The discount reflects the collapse in the value of the property, which was written down to €50 million by the Dublin Docklands Development Authority (DDDA) – a drop of 88 per cent in value.

      Anglo and Allied Irish Banks provided a €288 million loan to fund the purchase of the site, which involved developer Bernard McNamara, financier Derek Quinlan, the DDDA and private investors of Davy stockbrokers.

      One of the three draft internal reports into the DDDA, which were recently disclosed, reduced the value of the authority’s 26 per cent share in the site to zero.

      The discount on Anglo’s loan contributed to Nama applying a 50 per cent overall discount on its first loans being moved into Nama.

      The bank reported a loss of €12.7 billion for the 15 months to the end of December this week after writing off €15.1 billion in bad loans, including €10.1 billion on loans moving into Nama.

      The Government has injected €12.3 billion into Anglo to replenish its reserves after the losses wiped out its capital base.

      The bank has said that it may need a further €10 billion and possibly more to cover a higher-than-expected average haircut on the loans moving into Nama as well as losses on non-Nama loans and to meet the new higher capital rules.

      Nama said yesterday it had completed the transfer of the first loans from Bank of Ireland, buying assets with a face value of €1.93 billion for €1.26 billion, representing a discount of 35 per cent.

      “The agency expects to complete the transfer of the remaining loans from all five institutions by the end of the year and no later than end February 2011, the deadline set by the EU Commission,” Nama said in a statement.

      The agency has now bought loans with a face value of €2.74 billion from three financial institutions – €1.93 billion from Bank of Ireland, €670 million from Irish Nationwide building society and €140 million from EBS building society. The agency has applied a 37 per cent discount against the EBS loans and a 58 per cent haircut to Irish Nationwide’s.

      Nama will acquire the first loans from AIB over this weekend, buying loans with a face value of €3.3 billion for €1.9 billion, representing a haircut of 43 per cent. Anglo will transfer some €10 billion in loans for €5 billion.

      Some €16 billion in loans are being transferred to Nama in the first tranche for €8.5 billion, representing an average haircut of 47 per cent across the institutions.

      The State effectively took control of Irish Nationwide this week with the injection of €100 million in return for special investment shares in the building society.

      EBS is expected to find out over the coming week about when the institution will receive its special investment shares. However, the building society last week received a waiver, allowing EBS to fall below the threshold which dictates the minimum amount of capital that a lender must hold in reserve.

      EBS has the derogation from the regulator until May 31st, allowing it to hold less than the minimum core tier 1 capital ratio – a measure of loss-absorbing reserves at a lender – of 4 per cent.
      Avatar
      schrieb am 06.04.10 08:13:26
      Beitrag Nr. 160 ()
      The Irish Times - Monday, April 5, 2010
      Government asked AIB and BoI to help save Anglo !!!!!!


      SIMON CARSWELL Finance Correspondent

      ALLIED IRISH Banks (AIB) and Bank of Ireland (BoI) were asked during crisis talks on the night the Government bank guarantee was introduced in late September 2008 how much they could provide in liquidity to Anglo Irish Bank, according to well-placed sources.

      During emergency discussions with the Government and senior regulatory officials, both banks consulted their treasury departments shortly after talks began late on Monday, September 29th.

      Both heard from their treasury units within hours and determined that they each could provide €5 billion in loans to keep Anglo float.

      The two banks believed that the loans to Anglo, which had haemorrhaged deposits during September 2008 at the height of the financial crisis, would be only temporary and that Anglo would be nationalised the following weekend.

      Nationalisation was regarded as impossible midweek while markets were open, as it would affect the other listed institutions.

      AIB and BoI both sought assurances from the Government that night that the €10 billion would be repaid that Friday ahead of the Government’s expected nationalisation of Anglo.

      The following day, neither bank was contacted by the Central Bank, the Financial Regulator or Anglo in relation to the loans of €10 billion, or received any explanation as to why the loans weren’t needed.

      Following the Government’s announcement of the system-wide deposits and funding guarantee early on September 30th, deposits flooded into the Irish banks.

      Five months later it also emerged that Irish Life Permanent (ILP) provided €3.45 billion in temporary loans to Anglo on the day of the guarantee – in addition to €4 billion loaned by ILP to Anglo earlier that week – and that the two had also supported each other with liquidity earlier that year. The €7.45 billion in loans are now being investigated by gardaí.

      Last week Labour leader Eamon Gilmore called on the Taoiseach to publish all advice on which the decision was made to include Anglo in the guarantee.

      In response, Mr Cowen said that the decision to guarantee the six domestic institutions was in line with advice provided that night by the Central Bank, the regulator, and senior officials of the Department of Finance and the National Treasury Management Agency.

      Documents supporting that decision would be made available to the inquiries being carried out into the banking crisis, he said.

      The country’s two largest banks sought to become involved in the emergency talks on that night of September 29th-30th, 2008, after the collapse of US bank Lehman Brothers froze the wholesale money markets, sparking a chain of bank rescues across the globe.

      On Monday, September 29th, Irish shares fell the most in a quarter of a century. Anglo was the worst hit Irish bank, dropping 46 per cent, and was facing full collapse the following morning after the US Congress rejected a banking bailout deal overnight.

      The two banks entered the talks that evening after they requested, through contacts at one of the banks, to discuss the intensifying crisis facing the banking system.

      Banking sources differ on what the two financial institutions wanted at the meeting. Sources with knowledge of AIB’s position on the night said the bank sought no support for itself but pressed that the Government needed to act to prevent Anglo’s collapse.

      The sources claimed that the senior bankers in attendance – Dermot Gleeson, then chairman of AIB, and then chief executive Eugene Sheehy – were told the State had prepared a guarantee scheme that could protect the entire system but that they would have to ask the Government for it.

      BoI, which was represented by then chief executive Brian Goggin and governor Richard Burrows, argued for Anglo to be nationalised and the other institutions guaranteed, according to sources familiar with its position that night.

      http://www.irishtimes.com/newspaper/finance/2010/0405/122426…
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      schrieb am 06.04.10 08:14:22
      Beitrag Nr. 161 ()
      The Irish Times - Tuesday, April 6, 2010
      Nama adviser's briefing is the hottest ticket in town


      BELFAST BRIEFING: As trepidation and resentment grow, the agency’s role in the North is to be explained, writes FRANCESS McDONNELL

      THREE MONTHS ago he was virtually unknown in Northern Ireland, now Peter Stewart is the hottest ticket in town. His gig in Belfast next month has sold out.

      What is his secret? Simply that Stewart could become Northern Ireland’s de facto champion over the next few months. He is set to be the chair of Nama’s Northern Ireland Advisory Committee and, together with Frank Daly and Brendan McDonagh, he is going to headline a gig in May which promises to reveal what Nama could mean for the North.

      The Northern Ireland Chamber of Commerce event will be the Nama three’s first public outing in the North. It will also be the first time Northern Ireland businesses will get an opportunity to quiz senior Nama executives about what role exactly the agency will play in the North.

      The first loan transfers in the south by Nama have sent a shiver of trepidation through certain companies in Northern Ireland with significant development loans with Irish banks.

      The Business Alliance believes that Nama could in the worst-case scenario result in additional burdens being placed on Northern companies at a time when the local economy is “emerging slowly from the recession”.

      This would, according to the Business Alliance, be “very unhelpful” to say the least.

      In principal, according to the Business Alliance, any company or individual in the North that holds a land or property loan of more than €5 million in notional value could have that loan transferred into Nama.

      The Business Alliance also states: “Consideration is being given to reducing the €5 million threshold to €1 million, although this may involve too great a workload for the new institution in the initial period. Clearly, if this lower threshold was to be set there would be a very significant increase in the number of companies impacted by the proposals.”

      According to at least one local property insider, the discounts imposed by Nama on development portfolios which are worth a fraction of what companies and private developers paid for them are a “fire just waiting for a spark”.

      Major Irish financial institutions which operate in the North, chiefly Anglo Irish Bank, Bank of Ireland and Allied Irish Banks via First Trust, have been quietly setting up their own Nama-related teams in Northern Ireland over the last few months.

      But there is a feeling among some companies that these banks have been less than communicative about how their clients will fare if and when their business is transferred to Nama.

      Perhaps it is because the banks themselves have been somewhat in the dark about how Nama will operate in the North, but this has not helped lessen a certain wave of resentment that appears to be gaining momentum about the agency generally in Northern Ireland.

      Property development companies and individuals who paid high prices for prime sites at the height of the North’s short-lived property boom could not be in a worse place than they are at the moment.

      Latest industry research shows the Northern Ireland property market is in the grip of a major slump which appears never ending. According to the Nationwide building society the North is now officially the worst-performing region in the UK when it comes to house prices.

      Northern Ireland is the only part of the UK where average prices are lower today than they were in the same quarter one year ago.

      Martin Gahbauer, Nationwide’s chief economist, believes there are a number of factors to blame for this but the local economy is the chief culprit. “Unemployment has risen more sharply in Northern Ireland than in other regions, which is likely to be hindering the recovery in its housing market,” he said.

      In short there is no end in sight to the misery that local property developers and companies now find themselves in and with Nama just around the corner it could get much worse.

      Perhaps that is why there is an air of resentment circulating in certain quarters that Northern Ireland-based businesses are somehow getting sucked into a Nama-related minefield which was born south of the Border.

      It is hard to feel sympathy for companies and developers who speculated in a boom time and undoubtedly enjoyed the resulting rewards.

      If Nama had not come north of the Border it would just have been a matter of time before the ticking time bomb of the current gigantic and unserviceable property loans still in play came back to haunt certain Northern Ireland-based companies.

      As it is Nama is now a reality for all concerned and the questions it poses remain to be answered.

      Tickets for Peter Stewart’s gig at the Chamber of Commerce Nama-briefing lunch went on sale at £37.50 but if he sheds some light on the current situation they could well end up being priceless.
      Avatar
      schrieb am 06.04.10 08:15:43
      Beitrag Nr. 162 ()
      Beat the banks
      With mortgage rates set to rise by 1.5pc this year, homeowners who can lock in to a rate of 4pc or less are being urged to do so before it's too late, writes Charlie Weston

      Tuesday April 06 2010

      IF you are thinking about fixing your mortgage, then act now. Unless you are tied into a fixed-rate mortgage or are lucky enough to have a tracker, then you have just days to grab the last of the good value fixed rates.

      Anyone who can lock in to a rate of less than 4pc should sign up now, mortgage experts advise.

      This is because Bank of Ireland is to raise mortgage rates this week, in a move that will hit thousands of homeowners.

      The bank, which has 199,000 mortgages in this country, is set to follow the lead of Permanent TSB and AIB by hiking the rate it charges its current customers who have standard-variable-rate mortgages.

      It is also understood that the bank will push up its fixed rates.

      Rates are set to rise by 0.5pc, a move that will cost a homeowner with a €250,000 mortgage an extra €65 a month.

      This is set to be swiftly followed by EBS Building Society and its broker-focused operation Haven.

      After the move by AIB last week to increase its standard-variable and fixed rates by up to 0.5pc, Bank of Ireland has emerged as the best value provider of standard-variable and five-year fixed rates.

      Value

      Bank of Ireland currently has the best value standard-variable rate at 2.3pc for those who are borrowing less than half the value of their home.

      For those borrowing between 50pc and 80pc of the value of the property the rate is 2.4pc, according to Dublin-based Michael Dowling Mortgages.

      Last week AIB increased all of its fixed, standard-variable and loan-to-value mortgage rates.

      And this newspaper revealed that it plans two more rate rises to take fixed and standard rates up by 1.5pc overall this year.

      Now mortgage brokers are warning those who do not have the protection of being on a tracker or a fixed rate that they have just days to lock into a good value fixed rate.

      Some 300,000 homeowners have standard-variable-rate mortgages. Those coming to the end of fixed-rate deals will also be hit by rising mortgage costs.

      If all lenders follow the lead of AIB and push up their rates by 1.5pc over the year then a family with a €250,000 mortgage would see their monthly repayments rise by €200, according to director of the Irish Mortgage Corporation Frank Conway. Mr Conway said anyone who could get a fixed rate of 4pc or less should grab it now.

      The revelations that AIB was preparing to hit its existing mortgage holders with a series of rises meant the new benchmark had moved to 4pc.

      "If you have a limited capacity to absorb rate rises then you should fix. If you are afraid your payments will go up by €200 or €300 a month then move now," Mr Conway said.

      He recommended consumers opt for three or five-year rates.

      "If you cannot get a fixed rate at 4pc or less then I think maybe you should take a risk and ride it out on a standard variable rate because switching is not an option for most," he added.

      Michael Dowling of the Irish Mortgage Advisers Federation said the switcher market was effectively closed off to most people, with only KBC Homeloans and EBS/Haven mortgages prepared to take on switchers.

      But people in negative equity were trapped with their existing lenders.

      Mr Dowling added that many lenders charge their existing customers more than new customers for fixing their mortgages.

      "We know that (standard-variable) rates are going to rise by 1.5pc over the next six to 12 months, ignoring any European Central Bank rise, so a fixed rate of 4pc should be looked at," Mr Dowling stressed. He predicted that standard-variable rates will hit 5pc in the next 12 to 15 months.

      Base rates in the UK are just 0.5pc but a quarter of all lenders there are charging 5pc or more on mortgages, he added.

      People with a tracker should not give that up, Mr Dowling stressed.

      Those who can switch can get a three-year fixed rate of 3.69pc with KBC Homeloans. Haven has a three-year deal of 3.54pc, but EBS's fixed rates for longer than two years are more than 4pc.

      If you are in negative equity you will not be able to switch and will have to look to your own lender to see what fixed rate they offer. The following lenders have fixed rates of less than 4pc (either three, four or five years): Bank of Ireland, AIB, Haven, ICS, Irish Nationwide and KBC, says Mr Dowling.

      These lenders have fixed rates (of more than three years) that are higher than 4pc: Permanent TSB, EBS, National Irish Bank, Ulster Bank, Halifax and Bank of Scotland (Ireland).

      Irish Independent
      Avatar
      schrieb am 06.04.10 08:16:39
      Beitrag Nr. 163 ()
      Nama is wrong option, say one in five bosses
      Majority want to see assets of developers seized

      Sunday April 04 2010

      MORE than one in five of Ireland's top company bosses believe that Nama is the wrong solution to the banking crisis, according to the Sunday Independent Business Leaders Survey 2010.

      The exclusive poll of Ireland's top 300 company bosses reveals that around 32.9 per cent of respondents were either against Nama or undecided. This left 67 per cent of the country's key corporate executives in support of the €81bn bad-bank scheme.

      Last week, the first tranches of property loans were transferred over to Nama, with markets stunned by the severity of the "haircuts", or discounts, on the loans, leading to dramatic falls in the value of bank shares, particularly at AIB.

      Some bank loans from Bank of Ireland, EBS and Irish Nationwide have now been taken on by Nama, with further loans from Anglo Irish Bank and AIB set to be transferred in the coming weeks.

      The annual Sunday Independent Business Leaders Survey, now in its fifth year, was double the size of last year's poll, with 300 of the State's largest companies questioned, generating a near 33 per cent response rate.

      The postal survey was carried out in late March.

      The survey also reveals increased agitation among the country's top business leaders over the behaviour of some of our crocked property developers. Over 69 per cent of respondents called for property developers to have their personal assets seized if they failed to pay back their Nama-bound loans.

      Public anger is rising over the perception that property developers are swanning around in helicopters and living in mansions while the taxpayer is picking up the tab for their disastrous business deals and property purchases.

      Just 13.4 per cent of respondents indicated that these developers should not have their assets seized, with some citing legal reasons for their stance. And over 17.5 per cent of the CEOs were undecided.

      The personal guarantees given by some property developers to their banks in return for massive loans are coming under increased scrutiny.

      It emerged last week that the personal guarantees given to Anglo by some of Ireland's leading property developers are now of "very limited value", according to the bank's annual report.

      The bank has also seen the net worth of its borrowers being "eroded" over the past 18 months, meaning that these guarantees will not even come close to covering the repayment of loans.

      "As a result, recourse previously available under personal guarantees and through cross-collateralisation is now of very limited value in protecting the bank's interests," the report notes.

      Last week, it emerged that the bank was prepared to write off €109m worth of loans that it had made to its former directors, including Sean FitzPatrick and former CEO David Drumm.

      Sunday Independent
      Avatar
      schrieb am 07.04.10 07:35:32
      Beitrag Nr. 164 ()
      Avatar
      schrieb am 07.04.10 07:36:13
      Beitrag Nr. 165 ()
      06.04.2010 16:37
      BRIEF-NAMA adjusts discount on Allied Irish Banks loans

      http://www.finanznachrichten.de/nachrichten-2010-04/16555504…
      Avatar
      schrieb am 07.04.10 07:37:03
      Beitrag Nr. 166 ()
      irishtimes.com - Last Updated: Tuesday, April 6, 2010, 16:57
      AIB transfers first Nama loans



      The Irish Times takes no responsibility for the content
      or availability of other websites

      CIARA O'BRIEN

      AIB has transferred the first tranche of loans to the National Asset Management Agency at a revised discount of 42 per cent.

      The bank swapped loans with a nominal value of €3.29 billion for Nama securities worth €1.9 billion.

      This represents a loss of €1.4 billion on this tranche of loans. AIB is transferring a total of €23 billion.

      Nama originally planned to apply a 43 per cent discount to the loans transferred from AIB but this was amended following the completion of data checks and once foreign exchange movements were taken into consideration.

      The 42 per cent “haircut” remains above the consensus 35 per cent estimate anticipated by analysts before the first tranche of loans were transferred last week.

      AIB has been given until the end of the year to raise at least €7.4 billion from asset sales and other fundraising or else cede a significant majority stake to the Government.

      Last week Minister for Finance Brian Lenihan said the bank would need “at least” €7.4 billion.

      The bank is considering selling its overseas assets – its UK business, its 25 per cent share in US bank MT and Bank Zachodni WBK in Poland – although the Minister said the anticipated capital raised will not be sufficient to address the full requirement.

      AIB has also been asked to submit a capital-raising plan to the regulator by the end of the month.

      At 4.45pm shares in AIB were trading up 3 per cent at €1.24 with more than 7 million shares traded.
      Avatar
      schrieb am 08.04.10 09:30:35
      Beitrag Nr. 167 ()
      07.04.2010 15:49
      RBS hebt AIB auf 'Buy' und Ziel auf 1,75 Euro

      http://www.finanznachrichten.de/nachrichten-2010-04/16566172…
      Avatar
      schrieb am 13.04.10 07:22:22
      Beitrag Nr. 168 ()
      The Irish Times - Tuesday, April 13, 2010
      AIB to close corporate offices

      SIMON CARSWELL Finance Correspondent

      ALLIED IRISH Banks is closing four corporate banking offices within the bank’s capital markets division with the potential loss of 26 jobs.

      The division is closing corporate banking businesses in Leeds and Edinburgh in Britain, Houston in the US and in Sydney, marking the bank’s withdrawal from Australia.

      The highest job losses will come in the Sydney office where the bank employs 16 staff. It has has four staff in Leeds and three each in Edinburgh and Houston.

      The decision to close the offices was taken after a strategic review “in light of the global economic climate”.

      AIB will retain its corporate banking offices in London, Birmingham, Manchester, Frankfurt, Paris, New York, Los Angeles and Toronto. AIB said that, where possible, staff facing redundancy would be offered alternative jobs, while some of the staff in Sydney were Irish and may return to the bank’s operations in Ireland.

      Staff numbers in the capital markets division fell to 2,424 at the end of 2009, down from 2,562 a year earlier, while overall AIB staff numbers fell by 1,134 to 24,681.

      Colm Doherty, AIB’s managing director, has told staff that the bank would have to take “tough decisions” to cut costs further but would not announce any job cuts before the European Commission rules on the bank’s viability plan.

      Brussels is expected to rule on Bank of Ireland’s restructuring plans over the coming weeks.

      AIB is planning to sell its UK banking business, its 24 per cent share of US bank MT and its 70 per cent stake in Polish lender Bank Zachodni WBK to try to raise some of the €7.4 billion required to boost the bank’s capital levels.

      http://www.irishtimes.com/newspaper/finance/2010/0413/122426…
      Avatar
      schrieb am 13.04.10 07:26:48
      Beitrag Nr. 169 ()
      AIB Capital Markets to shut four of its offices





      Tuesday April 13 2010

      AIB Capital Markets is to close four international offices of its Global Corporate Banking division with the potential loss of 25 jobs.

      The firm's offices in Sydney, Houston, Leeds and Edinburgh are all to close their doors "in the next few months".

      AIB's head of corporate relations and communications Catherine Burke said that the move followed a strategic review of the business.

      "In the current economic climate these offices just didn't have the scale to be viable in the long term," she said. "Efforts will be made to redeploy the effected staff," she added.

      In a statement, AIB described the potential impact on customers as "minimal".

      AIB Capital Markets employs around 500 people in its overseas offices.

      The firm has offices in London, New York and Frankfurt, amongst other locations across Europe and North America.

      - Peter Flanagan

      Irish Independent
      Avatar
      schrieb am 13.04.10 07:27:48
      Beitrag Nr. 170 ()
      Bank bailout cost of €73bn manageable, says ESRI





      By Emmet Oliver

      Tuesday April 13 2010

      THE total cost so far of the bank bailouts is around €73bn, equivalent to 47pc of the entire output of the country in any one year.

      But despite the massive numbers, the State economic think-tank said this level of support for the banks was "manageable" and the country could remain "solvent".

      However, the Economic and Social Research Institute (ESRI) still criticised the sheer scale of support needed.

      "The situation should never have arisen whereby the Irish taxpayer is faced with such a financial burden due to the behaviour of the private sector," the ESRI said.

      The ESRI also expressed scepticism about whether the banks could support lending in the economy.

      Support

      "It remains unclear as to whether the Irish banking system will be in a position to support strong growth through appropriate lending in the near future,'' said its quarterly report.

      The organisation, in an unusual departure, criticised the way banks had been regulated, particularly Anglo.

      "If the bank was of systemic importance, and that has never been established to our satisfaction, it should have been regulated accordingly."

      The organisation said it was relieved to see the discounts on NAMA loans reaching 47pc and said this lessened concern that the taxpayer would overpay for the toxic loans.

      But it added: "The revelations in respect of the scale of losses in Anglo Irish Bank and the consequent needs for recapitalisation were well beyond anything that we, like many others, had anticipated."

      Of the €73bn, about €40bn of this is accounted for by NAMA, with €7bn gone into AIB and Bank of Ireland and an estimated €26bn to Anglo Irish, EBS and Irish Nationwide.

      The ESRI said that, considering the size of the liabilities the State was taking on, there was now a need for Ireland to publish a national balance sheet.

      "This would help clarify the net liabilities of the Government in relation to the banking system and track these over time,'' the ESRI report said.

      It added that the money pumped into Anglo Irish and Irish Nationwide, and their future funding requirements, would come to 15pc of GDP.

      "While such an addition to the national debt is obviously large, it is manageable. When combined with the resolute action on budgetary matters, we can feel increasingly assured that the overall solvency of the State is not under threat."

      The organisation pointed out that demand for loans from banks was weak at present. But it also admitted that balance sheet problems for banks and higher costs of funding were also impacting on credit supply.

      It said that based on ECB evidence, banks were also tightening up their criteria on who they give loans to.

      The ESRI once again cautioned that the liabilities of Irish banks were often over exaggerated by some observers.

      For example in February 2010, the liabilities of all financial institutions resident in Ireland amounted to €1,296bn. But those of Irish-owned banks were €567bn, less than half the total, and not all were covered by the government guarantee.

      The other liabilities were due to the presence of international banks in the IFSC.

      - Emmet Oliver

      Irish Independent
      Avatar
      schrieb am 14.04.10 07:21:34
      Beitrag Nr. 171 ()
      The Irish Times - Wednesday, April 14, 2010
      Nama appoints head of lending




      SIMON CARSWELL, Finance Correspondent

      THE NATIONAL Asset Management Agency (Nama) has appointed British banker Graham Emmett, former head of European property financing at Goldman Sachs, as its head of lending.

      Mr Emmett also worked at property company Delancey Estates.

      Nama has said that it may take advantage of an uplift in the UK property market by selling prime London properties quickly.

      The agency also plans to complain to the boards and chief executives of the financial institutions if loans are not supervised properly by their internal Nama units.

      Asked at yesterday’s Oireachtas Joint Committee on Finance and the Public Service about Nama executive John Mulcahy retaining shares in his former firm, estate agent Jones Lang LaSalle, which carries out work for Nama, the agency’s chief executive Brendan McDonagh said any conflicts of interest were fully declared and managed.

      John Corrigan, chief executive of the National Treasury Management Agency (NTMA), said it would be increasing its banking team from two to five after the Government delegated to it the management of the State’s stakes in the two big banks last month.

      Mr Corrigan said that the State could earn “a substantial double digit” percentage return on its investments in Allied Irish Banks and Bank of Ireland if their share prices reached €5.

      He told the Oireachtas committee that he did not know whether the State capital injections into Anglo Irish Bank and Irish Nationwide would come out of current or capital spending. “Either way, it will be part of the annual borrowing requirement.”

      The State has injected €12.3 billion into Anglo – with up to a further €10 billion required – and will inject €2.6 billion into Irish Nationwide. Fresh capital is being injected through promissory notes, or IOUs, over 10 to 15 years.

      Mr Corrigan said the management of the State’s ownership of Anglo would be delegated to the NTMA early next month. Asked if he was now “the boss of the Irish banks”, he said he reports on the agency’s banking functions to the Minister for Finance.

      NTMA staff had taken an 8 per cent pay cut, he said, but their salaries fell outside Civil Service pay scales and were kept confidential.
      Avatar
      schrieb am 14.04.10 07:22:44
      Beitrag Nr. 172 ()
      The Irish Times - Wednesday, April 14, 2010
      AIB secures orders for €18m against developer



      ALLIED IRISH Banks (AIB) has secured summary judgment orders for some €18 million against a development company over failure to repay a loan to refinance a property acquisition in Killarney, Co Kerry.

      Mr Justice Peter Kelly granted the order against Cronin’s Wood Developments Ltd, South Mall, Cork, at the Commercial Court. He also entered judgment for €10 million arising from guarantees over the loan provided by a solicitor, Fergus Appelbe, and a businessman, Peter O’Sullivan, Oakwood Manor, Killowen, Kenmare (who died in June 2008).

      The €10 million order is against Mr Appelbe, Ivy Cottage, Bandon, Cork, and, in her capacity as executrix of the estate of Mr O’Sullivan, Peggy O’Sullivan, his widow.

      The court heard the company and Mr Appelbe consented to the judgment orders, while Ms O’Sullivan had said she did not wish to participate in the proceedings.

      The orders arose from an €18 million loan given by AIB to Cronin’s Wood in July 2007 mainly to refinance the acquisition costs of a 60-acre site at Deerpark, Killarney, and to fund the purchase of 50 per cent of the shareholding in Cronin’s.

      Mr Appelbe and Mr O’Sullivan provided guarantees to the bank for €5 million each in respect of the indebtedness of Cronin’s Wood, the Bank claimed.

      In an affidavit, Shane O’Callaghan, manager of AIB’s credit management department in South Mall, Cork, said the bank demanded repayment of the Cronin’s Wood loan, which had risen to €18.1 million, on December 2nd last but the company failed to repay it.

      The bank then demanded that Mr Appelbe and Ms O’Sullivan discharge the €5 million owed under the guarantees provided but they failed to do so.

      Mr Justice Kelly entered summary judgment against the company for €18.1 million and against Mr Appelbe and Ms O’Sullivan for €10.7 million.

      http://www.irishtimes.com/newspaper/ireland/2010/0414/122426…
      Avatar
      schrieb am 14.04.10 10:35:40
      !
      Dieser Beitrag wurde moderiert. Grund: Spammposting
      Avatar
      schrieb am 15.04.10 07:43:08
      Beitrag Nr. 174 ()
      Avatar
      schrieb am 15.04.10 07:44:03
      Beitrag Nr. 175 ()
      market pulse

      April 14, 2010, 3:04 a.m. EDT ·
      Allied Irish Banks lifted to buy at Goldman
      Explore related topics
      Banks Europe Allied Irish Banks PLC Allied Irish Banks
      Story Quotes Comments Screener
      Alert Email Print Share By Barbara Kollmeyer


      MADRID (MarketWatch) -- Allied Irish Bank /quotes/comstock/13*!aib/quotes/nls/aib (AIB 4.40, +0.44, +11.11%) /quotes/comstock/23s!e:albk (UK:ALBK 1.53, +0.08, +5.52%) was upgraded to buy from neutral on Wednesday at Goldman Sachs, which said there is increased visibility on a path to recovery. The investment bank said AIB has improved clarity on its capital shortfall, which cuts key tail risk in the restructuring process of Irish banks. "We believe that both AIB and Bank of Ireland /quotes/comstock/23s!e:bkir (UK:BKIR 1.67, +0.02, +1.21%) will ultimately emerge as smaller, yet more focused financial institutions. While the entire process could take the next couple of years, its foundations will be laid within months," said Goldman analysts. Goldman reiterated its buy rating on BOI and said approval of state aid by the European Union and the subsequent capital increase will be BOI's key short-term catalysts. AIB's share price will likely be driven by news flow on asset disposals, further loan transfers to the National Asset Management Agency, the expected EC ruling on state aid and progress on the capital increase, said Goldman. The latter presents the biggest risk for shares.

      http://www.marketwatch.com/story/allied-irish-banks-lifted-t…
      Avatar
      schrieb am 16.04.10 09:35:27
      Beitrag Nr. 176 ()
      More than 10 potential suitors swarming for AIB's Polish unit
      Advisers will have to weed out 'tyre-kickers' from serious buyers



      By Joe Brennan

      Thursday April 15 2010

      Allied Irish Banks' Polish unit, put up for sale two weeks ago, has enticed initial interest from at least 10 potential suitors, including two French and two Spanish banking giants and lenders from Scandinavia and Austria.

      Sources in London and Warsaw suggest up to 12 financial groups are running the rule over AIB's 70.2pc-owned Bank Zachodni WBK, and that bidding could reach as much as a 20pc premium to current share prices.

      This would generate €2.9bn for AIB as it races to raise €7.4bn of capital by the end of this year.

      Zachodni's stock has soared almost 14pc over the past two weeks to a two-year high.

      Acquisitive Spanish banks Santander and BBVA, as well as Paris-listed Societe Generale and BNP Paribas, are understood to be circling Zachodni.

      Nordic financial services group Nordea is also known to be among early runners and riders. Dutch financial group ING's Polish arm Bank Slaski is said to have expressed an interest in AIB's unit.

      Austria's Raiffeisen International is reported to be looking at the business. Italian banking powerhouse Unicredito is also expected to have a look at the asset, but is likely to run into major competition issues, through its control of Poland's second-largest bank, Pekao.

      Similarly, PKO Bank Polski, effectively state-controlled through direct and indirect stakes, would encounter competition problems, although one source said this was unlikely to stop it expressing an initial interest.

      Morgan Stanley and AIB Corporate Finance, who are handling the sale, have not yet set first-round bid deadlines. They face a tough task separating 'tyre-kickers' from more seriously interested parties, before a data room is set up for would-be bidders to pour over Zachodni's books.

      Profitable

      "It's one of the most interesting transactions on the market, because the bank itself is very profitable and one of the best-managed banks in Poland -- making it a rarity," said Marcin Materna, an analyst with Millennium DM in Warsaw.

      Zachodni has 512 branches and is a strong player in mutual funds and broking.

      Mr Materna said the bank would likely fetch a maximum of three times its book value. This points to a price of 250 zloty (€64.8) a share, up 14pc from where it is trading and 29pc from just before a 'for sale' sign was hoisted over the bank.

      While there had been concerns AIB would be seen as a distressed seller, a Polish broker, who declined to be named, said: "That's not going to take away from them (AIB) getting a very good price. It's a quite valuable asset, which would add to the buyer's earnings from day one."

      Davy analyst Emer Lang has pencilled in the shares achieving 260 zloty. This would result in a €2.2bn capital gain and a €700m capital benefit from the reduction of AIB's risk-weighted assets.

      In an upbeat client note issued on Irish banks yesterday, investment bank Goldman Sachs said it expected AIB to generate €2.7bn from the Zachodni sale.

      Goldman sees the bank bringing in a further €1.8bn by selling its 23pc holding in US regional lender M&T and its UK division.

      This leaves a €2.9bn hole that needs to be filled through share sales later in the year and a likely conversion of at least part of the State's €3.5bn indirect stake in AIB into ordinary shares.

      Goldman sees AIB having to issue €280m in shares in respect to an interest payment due on the State's preference shares in May. The broker sees AIB posting normalised net profits of about €950m from 2013, after the worst years of bad loan losses have passed.

      - Joe Brennan

      Irish Independent
      Avatar
      schrieb am 20.04.10 22:57:58
      Beitrag Nr. 177 ()
      Antwort auf Beitrag Nr.: 39.347.160 von Aktientitan am 16.04.10 09:35:27Bist du hier der Alleinunterhalter??? :D

      Recht viele Investoren scheint es hier nicht zu geben.....
      Avatar
      schrieb am 21.04.10 07:23:55
      Beitrag Nr. 178 ()
      Antwort auf Beitrag Nr.: 39.371.431 von Vandal am 20.04.10 22:57:58D. kommt noch...dieser Thread dient nur,
      zur Informationsbeschaffung, bitte nur Fakten, News, Analysen
      einstellen... !!!

      Für alles andere ist der Hauptthread gedacht !!!

      Danke
      Avatar
      schrieb am 21.04.10 10:52:24
      Beitrag Nr. 179 ()
      Antwort auf Beitrag Nr.: 39.371.928 von Aktientitan am 21.04.10 07:23:55Hauptthread? Wo ist der denn? Ich finde keinen weiteren Thread für Allied Irish. Nur dieser erscheint in der Suche.
      Avatar
      schrieb am 21.04.10 12:49:32
      Beitrag Nr. 180 ()
      Antwort auf Beitrag Nr.: 39.373.329 von Vandal am 21.04.10 10:52:24http://www.wallstreet-online.de/diskussion/1147862-10241-102…

      Gruss titan
      Avatar
      schrieb am 21.04.10 18:52:18
      Beitrag Nr. 181 ()
      Bist du hier der Alleinunterhalter??? breites Grinsen

      Recht viele Investoren scheint es hier nicht zu geben.....

      :laugh::laugh::laugh::laugh::laugh::laugh::laugh:
      es gibt leute die müssen sich selber "produzieren"
      Avatar
      schrieb am 21.04.10 18:53:13
      Beitrag Nr. 182 ()
      Antwort auf Beitrag Nr.: 39.377.760 von Karpatenaal am 21.04.10 18:52:18leute = titanen
      Avatar
      schrieb am 21.04.10 19:30:11
      Beitrag Nr. 183 ()
      Antwort auf Beitrag Nr.: 39.377.767 von Karpatenaal am 21.04.10 18:53:13Wann startet unsere "Gurke" denn endlich wieder durch?
      Die 1.70 Euro kann nun in Angriff genommen werden.

      .-):D:D:D

      Gruß Caro
      Avatar
      schrieb am 21.04.10 20:38:21
      Beitrag Nr. 184 ()
      Antwort auf Beitrag Nr.: 39.378.094 von Carola11 am 21.04.10 19:30:11Eure Gurke hab ich mir jetzt auch angetan. Ich verspreche mir davon mindestens 100-300% Gewinn.......zu gegebener Zeit. :D

      Sieht so aus als hätte das Teil nachholpotential.......
      Avatar
      schrieb am 22.04.10 00:24:11
      Beitrag Nr. 185 ()
      hi alle gurkenhändler

      diese gurke macht jetzt eine verschnaufspause und das ist auch gut so.

      nicht zu vergessen ist, dass der kurz neulich unter 1 euro war und bis jetzt also bis 1,60 ohne besonderen rcksetzer gestiegen ist.

      auch gurken werden genmanipuliert. in 1 bis 2 jahren haben wir megagurken hier.
      Avatar
      schrieb am 22.04.10 11:25:25
      Beitrag Nr. 186 ()
      miki

      der gurkenthread ist tot. nur der aktientitan redet mit sich selbst. wahrscheinlich solange, bis der arzt kommt
      Avatar
      schrieb am 22.04.10 21:02:15
      Beitrag Nr. 187 ()
      Ist aber böse ausgegangen heute...... :-(
      Gleich so ein absturz??
      Avatar
      schrieb am 22.04.10 21:55:32
      Beitrag Nr. 188 ()
      Antwort auf Beitrag Nr.: 39.386.946 von Vandal am 22.04.10 21:02:15liegt der Absturz wieder an Griechenland:confused:
      Das sind doch nur alles Spiele fürs Volk, wir sollten nun endlich den Kurs hier steigen lassen,um den Anschluß nicht zu verpassen.
      Also, Freitag gen Norden - so sei es, so sei es, so sei es!

      Gruß Caro
      Avatar
      schrieb am 22.04.10 22:02:17
      Beitrag Nr. 189 ()
      also ich bin echt zufrieden dass es heute nur zu einem kurzen abrutschen kam und zu keiner neuen Katastrophe!!

      bei 3,95$ heute Nachmittag hatte ich echt ein wenig Angst, die Märkte haben die NEws aber nun verdaut und in den USA sind die Indizes nun fast alle wieder grün, AIB bei 4,15$: damit kann ich mehr als gut leben!!
      Avatar
      schrieb am 22.04.10 22:03:55
      Beitrag Nr. 190 ()
      Antwort auf Beitrag Nr.: 39.387.346 von Carola11 am 22.04.10 21:55:32Ja klar, liegt an Griechenland! Die kommen so einfach nicht auf die Beine. Wär ja auch zu einfach ;). Das Geld reicht hinten und vorn nicht, und zusätzlich noch stärkere Abstufungen.
      Jetzt müsste man halt wissen inwiefern Allied Irish dort involviert ist.

      Jedenfalls hat es die Allied Irish am härtesten erwischt in Europa soweit ich das überblicken konnte. Der stärkste Rutsch unter Banken und Versicherern.
      Avatar
      schrieb am 23.04.10 07:19:35
      Beitrag Nr. 191 ()
      Antwort auf Beitrag Nr.: 39.387.425 von Vandal am 22.04.10 22:03:55:eek::eek::eek:

      Griechenland !!! ???

      Die haben selber genug Probleme...

      irishtimes.com - Last Updated: Thursday, April 22, 2010, 14:54
      Ireland records biggest deficit in euro zone

      Ireland's deficit climbed to the highest in the euro zone after the EU reclassified the €4 billion injection into Anglo Irish Bank as Government spending.

      The move brought the deficit to 14.3 per cent of gross domestic product (GDP) in 2009, more than four times the EU's 3 per cent deficit limit. Greece had a gap of 13.6 per cent of gross domestic product, rather than 12.7 per cent as reported earlier, Eurostat said.

      The spread between Irish bonds and the German bund widened to 169 basis points after the news, from 151 yesterday.

      "I don't think the news is shock horror," said Alan McQuaid, chief economist at Bloxham Stockbrokers in Dublin. "It doesn't make us look any better."


      D. ist der ENTSCHEIDENE Satz: "It doesn't make us look any better."

      The EU had forecast a shortfall of 12.5 per cent in November. However, Minister for Finance Brian Lenihan said it was a "once off impact".

      "While the headline deficit for 2009 is 14.3 per cent of GDP, as a result of a technical reclassification associated with Government support provided to the banking sector, it is important to note that the underlying 2009 general Government deficit for Ireland is 11.8 per cent of GDP, which is broadly similar to that projected in December's budget," Mr Lenihan said.

      "This is a once-off impact, and will not affect the Government's stated budgetary aim of reducing the deficit to below 3 per cent of GDP by 2014."

      Chief executive of the National Treasury Management Agency (NTMA) John Corrigan told an Oireachtas committee that the reclassification of the deficit is a "technical issue" and has no implications for borrowing.

      He said there's a "reasonable prospect" international ratings agencies will move their outlook on Ireland to stable from negative and said the country is entering "calmer waters." Ireland is rated AA1 at Moody's Investors Service and AA at Standard and Poor's, and both have "negative" outlooks on the nation's debt. Fitch has an AA- rating on Ireland, with a "stable" outlook.

      "Sentiment towards Ireland as reflected by bond yields has improved," Mr Corrigan said.

      Mr Corrigan said the debt agency plans to gradually reduce its cash balances which have been around €20 billion, by cutting the volume of short-term paper in issue.

      The Government last month said Anglo Irish may need €18.3 billion in additional capital. It has also pumped money into Bank of Ireland and AIB.

      Mr Corrigan said the Government would probably take a stake in Allied Irish Banks Plc as part of a payments-in- kind arrangement after the European Commission halted coupon payments by the bank.

      Ireland's debt increased to 64 per cent of GDP last year from 43.9 per cent in 2008, the statistics office said.

      Labour Party spokeswoman on finance Joan Burton said the figures corrected the Government's calculations.

      "The government describes the upward revision of Ireland's deficit from 11.8 per cent to 14.3 per cent of GDP as merely technical re-classification of the 2009 general government deficit. This is a breathtaking attempt to airbrush out of economic history the financial consequences of the €4bn injection into Anglo Irish Bank," she said.

      "From being one of the least indebted countries in Europe, Ireland is now well on its way to being one of the most indebted, especially when the impending mass issue of Nama bonds is factored into the equation."

      Fine Gael’s finance spokesman said the impact of today's news was "very serious".

      "It means that if the Government is to meet its 3 per cent budget deficit figure by 2014, as agreed with the European Commission, it will have to find significant additional savings," he said.

      "With an estimated €21 billion to be pumped into Anglo and INBS over the next ten years the Government will have to find an average of €2 billion in extra savings each year for the next four years just to meet their own targets. To put that into context, the total savings made last year from public sector pay cuts was just over €1 billion."

      In the euro area, the budget deficit widened to 6.3 per cent of GDP last year, the biggest since the introduction of the euro in 1999, from 2 per cent in 2008. Overall debt was at 78.7 per cent.

      http://www.irishtimes.com/newspaper/breaking/2010/0422/break…

      Irgendwann entdecken die Spekulanten Irland...jetzt wird die Sau durch Portugal, Spanien, Griechenland getrieben, aber wehe sie entdecken...Irland !!!
      Avatar
      schrieb am 23.04.10 07:52:24
      Beitrag Nr. 192 ()
      Noch etwas...
      Iren und Portugiesen müssen für Staatsanleihen so viel bieten wie Griechen Ende 2009 !!!

      Schöne Bericht in FTD (Ausgabe v.: 23. April, Seite 19) !!!

      Auszug:

      Investoren sorgen sich zunehmend um die hohen Auslandsschulden in mehreren Euro-Staaten. Portugal, Spanien und Irland rücken immer stärker in den Focus vieler Anleger. Am Donnerstag stieg der Risiko-
      aufschlag im Vergleich zu Bundesanleihen für irische Zehnjahresbonds
      kräftig um 20 auf 173 Basispunkte !!!!!!!!

      Damit müssen die Regierungen in Lissabon und Dublin den Investoren
      bereits so viel Verzinsung für neue Schuldscheine bieten, wie die Grichen Anfang Dezember !!!!!

      Das Budgetdefizit war in Irland sogar noch höher, wie die neuesten
      Zahlen des europäischen Statistikamts Eurostat zeigen. Demnach hatten die Iren 2009 einen Fehlbetrag von 14,3 Prozent des BIPs-
      Rekord im EURO-Raum.

      VORSICHT... ist in den nächsten Wochen...GEBOTEN !!!
      Avatar
      schrieb am 23.04.10 11:11:39
      Beitrag Nr. 193 ()
      Antwort auf Beitrag Nr.: 39.388.237 von Aktientitan am 23.04.10 07:52:24danke für den hinweis...ich setze mir nen SL auf 1,20€!!:laugh::laugh:
      Avatar
      schrieb am 26.04.10 09:44:13
      Beitrag Nr. 194 ()
      26.04.2010 09:40
      BRIEF-Allied Irish Banks to be cleaned up -minister

      http://www.finanznachrichten.de/nachrichten-2010-04/16719884…
      Avatar
      schrieb am 27.04.10 07:24:53
      Beitrag Nr. 195 ()
      Lenihan confident AIB can follow similar path to Bank of Ireland

      Monday April 26 2010

      Finance Minister Brian Lenihan said he has "every confidence" Allied Irish Banks Plc can be dealt with in a similar way to Bank of Ireland Plc.

      “I have every confidence that Allied Irish Banks and the Educational Building Society can be dealt with along lines which ensure that similar, not necessarily identical, arrangement are arrived at, which will protect the taxpayer and put these banks on a sound commercial basis,” Lenihan said in an interview with RTE radio today.

      Bank of Ireland said it will try to raise as much as €3.4bn to fill a capital shortage as bad real-estate debts surge.

      http://www.independent.ie/business/irish/lenihan-confident-a…
      Avatar
      schrieb am 29.04.10 08:23:45
      Beitrag Nr. 196 ()
      irishtimes.com - Last Updated: Wednesday, April 28, 2010, 15:41
      State 'may take bigger AIB stake'



      IRISH TIMES REPORTERS

      The Government will acquire a direct stake of 16 to 17 per cent in Allied Irish Banks in lieu of an interest payment over the coming weeks, its chairman said today.

      Speaking at the bank’s annual general meeting in Dublin today Dan O’Connor said the lender would give the Government ordinary shares instead of a coupon payment on the state's €3.5 billion preference share holding. The interest payment cannot be made in cash due to an EU ruling.

      Mr O'Connor also apologised to shareholders and taxpayers for the “self-inflicted” problems faced by the bank and described the bank’s performance last year as “highly unsatisfactory”.

      “We lent too much money to the property and construction sector in Ireland in recent years and, as a result, most of our present problems were self inflicted. I want to again acknowledge that we take responsibility for these actions.

      “On behalf of the board I wish to express our regret for the impact of past decisions on shareholders, staff, customers and the taxpayers of Ireland.”

      Mr O’Connor also said the bank’s disposal of assets to help meet its capital requirements would not be a “fire sale”.

      Mr O'Connor said AIB needed to raise €7.4 billion in additional equity capital in order to achieve the equity tier 1 capital ratio of 7 per cent demanded by the Financial Regulator.

      He said AIB’s new management team, led by group managing director Colm Doherty, has until the end of this year to take actions to meet the bank's capital requirements.

      “We have a series of actions planned in this regard. However, if we are not able to meet the regulatory requirements through these planned actions, then the Government will provide the additional capital we need,” Mr O'Connor said.

      "This would see the State increasing its stake in the bank. The extent of the Government’s stake will become clearer in the coming months after we implement our planned actions."

      Mr O’Connor said the bank planned to sell its UK and Polish businesses and its stake in M&T to meet “a substantial part” of the capital demands.

      “We have no option but to sell those assets,” he said.

      The capital raising plan also includes an equity issue targeted at private investors which will be underwritten by international investment banks or the Government.

      Mr O’Connor said the bank has yet to receive a date for the European Union’s verdict on its restructuring plan.

      “We are learning the lessons from the past and applying them to our actions and attitudes,” he said. “Our credit underwriting, credit risk policy and strategy, best practice and standards are being overhauled and centralised so we won’t repeat the mistakes which contributed to our present problems.”

      He said the bank’s trading performance in the year to date “is broadly in line with our expectations in what continue to be very challenging conditions”.

      Mr O'Connor also said the bank was committed to making a further €3 billion available to small and medium businesses this year and in 2011.

      "It's not going to be a fire sale, we are not rushed into having to have these businesses sold in the next few months," said O'Connor, whose predecessor had eggs thrown at him at a meeting called a year ago to approve its government bailout.

      The union representing bank employees this afternoon urged AIB to reconsider its decision to sell subsidiaries in the UK.

      IBOA general secretary Larry Broderick said in a statement staff in First Trust Bank in Northern Ireland and Allied Irish Bank in Britain were anxious about their own futures and about the impact on customers.

      He said AIB was also unlikely to realise the full economic value of the assets due to a depressed market.

      At 3.15pm shares in AIB were trading at €1.40, a drop of 3.4 per cent. Banks across Europe were under pressure today due to concerns about a possible contagion following debt rating cuts for Greece and Portugal.

      http://www.irishtimes.com/newspaper/breaking/2010/0428/break…
      Avatar
      schrieb am 29.04.10 10:07:58
      Beitrag Nr. 197 ()
      schön zu sehen dass wir uns wieder stabilisiert haben und weit weg von einem Abrutschen unter der 1,40 sind!!
      Avatar
      schrieb am 29.04.10 10:23:11
      Beitrag Nr. 198 ()
      schaut mal hierein: national bank of greece, wkn 876113

      keine kaufempfehlung!!!!!!!!!
      Avatar
      schrieb am 29.04.10 10:26:29
      Beitrag Nr. 199 ()
      State will take 17pc stake in AIB instead of cash dividend



      Thursday April 29 2010

      THE State is set to take a 16pc to 17pc stake in Allied Irish Banks (AIB) next month when the bank is forced to pay in shares instead of cash for a dividend that falls due.

      Brussels has banned AIB from paying discretionary dividends or coupons while it is probing the bank's restructuring plan.

      The bank is due on May 13 to pay an 8pc -- or €280m -- dividend on the State's €3.5bn of preference shares in the group.

      Bank of Ireland faced a similar dilemma in February when it was forced to cede a 15.7pc stake to the National Pensions Reserve Fund (NPRF), which holds the stake for the State.

      Ordinary

      The ordinary shares AIB will be forced to issue the NPRF will be priced at the 30-day average before deal takes place.

      The lower the average share price falls, the higher the stake AIB will have to hand over to the State.

      AIB chairman Dan O'Connor said the bank continued to discuss its restructuring plan with the European Commission and that the bank did not yet have a date for the EU ruling.

      Brussels has directed that rival Bank of Ireland sell off its New Ireland life and pensions business, as well as its Bank of Ireland Asset Management (BIAM) and ICS Building Society arms by the end of 2013.

      Analysts fear that AIB faces similar pressure to dispose of AIB Investment Managers, its 24.99pc stake in life and pensions joint venture with Aviva, as well as its Goodbody Stockbrokers unit.

      Meanwhile, Mr O'Connor defended the group's sale of an alleged Greek fraudster's £700m (€807m) property portfolio in London to developer Green Property.

      AIB took control of the properties in 2008 and they were later sold to Green Property, which funded the transaction with AIB.

      A shareholder yesterday accused the bank of "ware-housing" the portfolio -- including trophy assets such as the Telegraph building, and offices occupied by the UK home office and department of health -- via this transaction and avoiding a larger writedown than £56m (€64.5m) on its books.

      Mr O'Connor confirmed that the Financial Regulator had asked questions relating to the deal. "We answered them all. It is a portfolio of very, very good assets in London and they were sold at arms-length," he said.

      The chairman added that the deals had board approval and that "proper details were given to the auditors and financial regulator".

      Achilleas Kallakis and associate, Alexander Williams, were charged at the City of London Magistrates' Court early last month in relation to the property loans received from AIB between 2002 and 2007.

      Both men are scheduled to appear in court next Tuesday.

      Answering questions on what he had learned from the banking crisis, AIB's managing director Colm Doherty said: "There was far too much money lent out to single property developers."

      Mr Doherty, who took over the helm last November, said that one of the principle lessons was not to build up a lending concentration to "any one asset class" or to single individuals or companies.

      - Joe Brennan

      Irish Independent
      Avatar
      schrieb am 11.05.10 07:27:04
      Beitrag Nr. 200 ()
      Antwort auf Beitrag Nr.: 39.389.917 von Pokerlui007 am 23.04.10 11:11:39Hat "ES" mit deinem SL (1,20 EURO) geklappt ???

      :D
      Avatar
      schrieb am 11.05.10 07:27:35
      Beitrag Nr. 201 ()
      BNP not in race to buy AIB's Zachodni unit in Poland



      By Emmet Oliver Deputy Business Editor

      Friday May 07 2010

      FRANCE'S largest bank BNP has said it has no interest in acquiring AIB's Polish business despite reports it is among a group of suitors.

      In a conference call with analysts yesterday, the chief executive of the bank, Baudouin Prot, dismissed reports it was interested in Bank Zachodni WBK and rejected suggestions it had run a rule over the bank. AIB managing director Colm Doherty has described the Polish business as a "jewel in the crown'' for AIB.

      AIB owns 70.2pc of the Polish bank and is selling its assets as part of a plan to raise €7.4bn of capital, partly to limit the level of state involvement in the bank.

      Austrian and Scandinavian lenders are believed to be circling Zachodni, whose other shareholders mainly consist of European and US funds -- among them Fidelity, Pioneer and Swiss bank Credit Suisse.

      A sale could generate up to €2.9bn of capital for AIB and shares in Zachodni have rallied since news of potential bidders started to circulate. The shares are up 4.26pc on the year, although they dropped yesterday by 1.98pc, partly on news that BNP is not interested.

      Acquisitive Spanish banks Santander and BBVA may emerge as bidders, with Nordic financial services group Nordea and Dutch lender ING also possibly in the mix.

      Austria's Raiffeisen International is reported to be looking at the business, as is Italian banking group Unicredito and Polish lender, PKO Bank Polski -- effectively state-controlled, meaning it would encounter competition problems.

      Zachodni has 512 branches and is a strong player in mutual funds and broking.

      The sale of the Polish business will deprive AIB of access to one of the fastest-growing economies in central or Eastern Europe.

      It will also confine the company's footprint mainly to Ireland, despite attempts by previous chief executives Michael Buckley and Eugene Sheehy to give the bank greater geographical diversity.

      However a failure to sell the bank would ultimately result in its nationalisation.

      Barclays Capital has claimed that AIB will still face a large capital hole even if it sells the Polish business, its stake in US lender M&T and various other assets in Britain and Northern Ireland.

      The bank has been ordered by financial regulator Matthew Elderfield to come up with a plan that will leave it sitting on an 8pc capital buffer.

      - Emmet Oliver Deputy Business Editor

      Irish Independent
      Avatar
      schrieb am 11.05.10 07:28:45
      Beitrag Nr. 202 ()
      AIB faces handing over 18pc stake to the State
      Bank hopes price rise will limit shares issue needed to cover €280m dividend



      By Joe Brennan

      Tuesday May 11 2010

      ALLIED Irish Banks boss Colm Doherty faces handing over an 18pc stake to the State on Thursday as the bank is forced to pay in shares instead of cash for a dividend that falls due, according to analysts.

      The bank is desperately hoping that its share price will continue yesterday's 23.8pc rally over the next two days -- in order to limit the number of shares it needs to issue to the Government to cover the €280m dividend, or coupon. The payment is due on the State's €3.5bn worth of preference shares in the bank.

      Brussels has banned AIB from paying discretionary dividends or coupons while it is working through the bank's restructuring plan. Rival Bank of Ireland faced a similar dilemma in February when it had to cede a 15.7pc stake to the National Pensions Reserve Fund (NPRF), which controls the State's investments in the banks.

      NCB Stockbrokers analyst Ciaran Callaghan said that, based on an average AIB share price of about €1.45 over the past 30 trading days, the NPRF is likely to receive an 18pc stake in the bank on Thursday.

      "Using the share price of €1.45, AIB would be required to issue 193m new shares to satisfy the coupon. We estimate this would give the State an 18pc stake in the group," he said.

      But, adding in the warrants that entitle the State to an additional 294m shares in AIB in four years' time, Mr Callaghan said, taxpayers would effectively have 35pc ownership of the group.

      Meanwhile, AIB is due to provide the market with a trading update later this week. Investors will be keen to hear of any update the bank will have on its target of raising €7.4bn of equity by the end of this year to reach new regulatory requirements.

      The €280m-worth of shares the State is due to receive will marginally reduce the amount of further equity it needs to raise.

      Analysts estimate that the bank will be able to generate about €4.5bn of capital from the sales of its Polish unit Bank Zachodni WBK, its UK business as well as its 22.5pc stake in US regional bank M&T. The sales of all three were flagged by the bank in late March.

      AIB chairman Dan O'Connor also signalled two weeks' ago that the group was likely to go to shareholders and the State in September to fill the multi-billion euro gap between the proceeds of the asset sales and its €7.4bn target.

      AIB's stock soared 23.8pc to €1.38 yesterday, as European banks were buoyed by an unprecedented €750bn bailout package for debt-ridden eurozone countries.

      - Joe Brennan

      Irish Independent


      http://www.independent.ie/business/irish/aib-faces-handing-o…
      Avatar
      schrieb am 14.05.10 08:18:31
      Beitrag Nr. 203 ()
      AIB seeking €18m judgment

      MARY CAROLAN

      A businessman is being pursued by Allied Irish Banks for €18 million summary judgment orders over unpaid loans allegedly advanced for property developments in Galway, property investment in New York and a bloodstock business.

      Because of defects in the bank’s legal documents, Mr Justice Peter Kelly adjourned the bank’s application for transfer of the proceedings against Joseph Joyce and his company Cahermorris Developments Ltd to the Commercial Court to Thursday.

      AIB is seeking summary judgment for some €2.9 million against the company, with registered offices at Cahermorris, Corrandulla, Co Galway, and is also claiming some €18 million against Mr Joyce, of the same address. The claims arises from various loans advanced to the defendants over a six-year period.

      Gary McCarthy, for the defendants, said the bank had not exhibited the correct loan facility letter to ground its claims that €18 million was due from Mr Joyce.

      Dermot Cahill, for AIB, said it appeared the loan facility was changed about September 2009 at the request of Mr Joyce to reduce the loan security from 75 acres of lands to 60 acres.

      The judge said he would not transfer the proceedings on the current state of the papers and adjourned the matter. It was “very strange” for a bank to seek €18 million on an incorrect basis, he remarked.

      In its proceedings, AIB claims the €18 million sum is due and owing by Mr Joyce arising from loans advanced for the defendants commercial activities in construction/development and in bloodstock while the €2.9 million claim against the company related to various facilities over a six year period.

      The loans were advanced to acquire and develop a 12.5 acre site at Headford Road, Galway city and a 17 acre site in Mountbellew, Co Galway. Facilities were also provided for Mr Joyce’s bloodstock business at Corrandulla.
      Avatar
      schrieb am 14.05.10 08:19:07
      Beitrag Nr. 204 ()
      The Irish Times - Friday, May 14, 2010
      State increases its stake in AIB to more than 18%
      In this section »



      SIMON CARSWELL Finance Correspondent

      THE STATE’S shareholding in Allied Irish Banks (AIB) jumped to 18.6 per cent as the bank was forced to give shares to the Government instead of a €280 million dividend due under last year’s €3.5 billion State bailout of the bank.

      AIB had to give 198 million ordinary shares, or a stake of 18.3 per cent, to the Government after the European Commission placed a “dividend stopper” pending a review of the State aid support.

      The shares were issued to the National Pension Reserve Fund, which already held 0.3 per cent of the bank. Warrants taken by the State under last year’s bailout could increase the stake to about 40 per cent, if exercised.

      The bank must raise €7.4 billion in capital this year to absorb mounting losses, which could lead to the State increasing its interest to a majority stake if AIB cannot raise enough cash on its own.

      Minister for Finance Brian Lenihan said that the Government would increase its shareholding if the bank needs additional capital.

      AIB fell 1.5 cent, or 1.1 per cent, to €1.35. Sebastian Orsi, analyst at Merrion Stockbrokers, said the State’s 18 per cent stake was “an unintended result” but had been factored in by the market.

      AIB said trading conditions remained “challenging”, particularly in Ireland, but its overseas operations, which it has to sell to help raise capital, were “performing well”. Analysts expect AIB to require further capital after raising about €4.7 billion selling these businesses, which will ultimately leave the State with a stake of about 70 per cent in the bank.

      Conditions improved in the capital markets, British divisions and in Polish unit BZWBK, the bank said, while the US bank MT, in which AIB has a 22 per cent stake, had reported also strong results.

      The bank said it had submitted a capital-raising plan to the Financial Regulator as requested and it will detail capital raising “as it occurs in the coming months”.

      AIB warned of “downward pressure” on operating profit and net interest margin due to “highly competitive and uneconomic market repricing of customer deposits” and the higher cost of wholesale funding and the State guarantee.

      The bank also blamed reduced income on capital and increased interest payments on bonds following two debt swaps in the past year and lost income on loans moving into the National Asset Management Agency (Nama).

      Administration costs relating to Nama and a reduction in loans due to a shrinking of the bank’s overall business were also lowering operating profit and interest margins.

      Arrears continue to increase on the bank’s €27 billion loan book.

      Customer demand for credit remained “weak” and the bank’s costs “continue to be closely managed and reduced”, AIB said.

      The bank is planning to cut costs to reflect its reduced size.

      AIB warned the 45 per cent discount assumed by the regulator on €23 billion in loans moving to Nama “may differ” as they are sold. Bad debt charges in the first quarter were similar to those incurred for the full year of 2009.

      The quality of the property and construction loan book “continues to weaken”.

      Following the transfer of AIB’s Nama loans, the bank will still retain €9 billion of investment property and €3 billion in land and development loans on its books.

      AIB has raised €6 billion in funding under the extended Government bank guarantee this year. Customer deposits account for just over half the bank’s funding.
      Avatar
      schrieb am 20.05.10 13:23:02
      Beitrag Nr. 205 ()
      Emmet Oliver: AIB is facing expensive escape route out of its capital mess

      hursday May 20 2010

      It has been a galling few months for Allied Irish Banks and there is no end in sight to its market mauling.

      In fact, the market nightmare actually began two months ago. The bank is believed to have favoured a more scenic route to raising capital than either the Financial Regulator or the Government, but it didn't get its way.

      In late March Matthew Elderfield told AIB and the other banks only an 8pc capital level would do, and the money needed to be in place by the end of the year -- no excuses, no derogations.

      This 'big bang' approach has left AIB managing director Colm Doherty (above) scrambling around to find the largest amount of capital ever raised by an Irish bank, an astonishing €7.4bn.

      Magic

      Asset sales, rights issues, debt exchanges, institutional placings will all play a part in getting the bank to the magic number, but a capital raising on this scale has never been done before in Irish banking. Doherty is trying to raise capital amounting to over six times the market value of the bank.

      The mood at AIB can't be helped by watching Bank of Ireland, at least so far, nimbly navigating its way through an institutional placing, a debt-for-equity swap and now a rights issue.

      As AIB chairman Dan O'Connor has said, AIB would prefer almost any outcome than having to sell its overseas assets, particularly Polish unit BZWBK, but needs must.

      The deeply humiliating sale of Poland has also been matched by the grim news that the bank has to hand over an 18.6pc stake to the Government, after the European Union stopped the paying of dividends to holders of preference shares.

      If AIB's strategic priority a year ago was to remain independent of Government and remain geographically diverse, it needs to revisit its corporate goals.

      Even if the bank eventually gets to its €7.4bn target and government control is limited, the bank will be a shrunken, less diverse, less profitable entity.

      Even the attempts to sell the overseas assets have run into trouble.

      French banking giant BNP has turned its nose up at BZWBK, while Spanish Santander appears to be struggling to seal a complex deal that would result in it buying AIB's M&T (in the United States) stake.

      If that deal is not made, the stake will go on the open market, but unfortunately that probably means taking an even bigger discount.

      Meanwhile, the Government is watching from the sidelines, waiting to convert its €3.5bn of preference shares into ordinary equity, taking a huge ownership chunk in the process.

      Goodbody yesterday said AIB investors were on "tenderhooks'' as the bank struggled to seal a deal on BZWBK or M&T -- and Goodbody is supposed to be the bank's broker.

      It all seems an epic, and possibly unwinnable, struggle to keep the Government stake in the bank below a certain threshold.

      This may be the end result, but it will come at a huge price for the bank.

      Merkel makes futile move on short selling to stymie market

      AS ham-fisted, short-selling bans go, the intervention by the German regulator BaFin late on Tuesday night was possibly the worst of the lot.

      The ban on naked short selling of bonds and speculative credit default swap trades has no Europe-wide force, can be avoided by subsidiaries of German banks operating in other markets and reduces liquidity in the European bond market at a time when other providers of capital, like US money market funds, are already deserting that market.

      The ban, which was heartily endorsed by German Chancellor Angela Merkel, means thousands of hedge funds, money market funds, pension funds, insurance companies, asset managers, private investors and even government agencies operating out of Germany no longer have an option to hedge their exposures to various eurozone bonds. How that helps to increase the amount of money flowing towards desperately cash-strapped peripheral countries like Greece, Spain and Ireland is anyone's guess.

      Ireland's ban on short selling of bank shares in September 2008 was equally a failure. It came in September 2008 and initially Irish bank shares soared, but after a few weeks they were touching historic lows, at one point threatening to become literally worthless. The chief outcome of that ban was to reduce liquidity massively in the Irish market -- a fact remarked upon by the chief executive of the Irish stock exchange Deirdre Somers on several occasions.

      Of course the credit default swap (CDS) market should be regulated, but on a global basis, preferably with some US involvement. There should be a disclosure of CDS positions for instance and stopping them being entirely 100pc speculative instruments also makes sense.

      But Merkel's clunky move hasn't entirely backfired. The markets took such fright at her midnight raid on Tuesday that by yesterday German bond yields were falling, delivering cheaper borrowing costs for the Germans.

      Government has got a warning -- the pharma sector is vulnerable

      Brian Cowen and Batt O'Keeffe, the new employment minister, have been given an early but unambiguous warning about the threat to Ireland's most resilient exporting industry, high-end branded pharmaceuticals.

      The job losses at Pfizer were met this week with something approaching denial -- they were simply the result of a mega-merger of Wyeth and Pfizer and have no wider meaning for Irish economy.

      This 'nothing to see here, folks' approach doesn't really wash, though.

      Thirteen of the 15 largest pharmaceutical companies have manufacturing bases here, but the number of their generic rivals located here is far smaller.

      Generic drug-makers compete more on cost power, rather than brain power and that's why Ireland falls down.

      While wages are falling sharply, no matter how competitive Ireland gets, it is unlikely to be able to compete on strictly cost grounds with the likes of China and India, even when we have the added crutch of the 12.5pc corporation tax rate.

      What helps Messrs Cowen and O'Keeffe for now is that regulatory standards in these cheaper locations are not as high as they are in Ireland, where the FDA and the Irish Medicines Board prowl the corridors of the main pharma companies.

      Nevertheless, the threat from generics to big pharma Irish-style is real, and one suspects some tinkering with the tax regime here for these companies is what is likely to happen next to keep them here.

      Irish Independent
      Avatar
      schrieb am 20.05.10 13:23:31
      Beitrag Nr. 206 ()
      Avatar
      schrieb am 21.05.10 07:16:51
      Beitrag Nr. 207 ()
      irishtimes.com - Last Updated: Tuesday, May 18, 2010, 18:59
      ISEQ closes more than 1.5% up

      SUZANNE LYNCH

      As European events continued to dictate local trends, the ISEQ once again took its lead from the European markets. Some upward momentum came into the Irish market, in line with its European peers. The Irish index finished up 53.46 points at 3,109.

      Index heavyweight CRH led the charge, with the building stock gaining a hefty 4.8 per cent to finish at €19.07, outperforming its sectoral peers. Analysts noted that an element of correction was at play, as the stock had been lagging of late.

      The anomalies of the Irish system were in evidence today according to one trader, as stellar results from two of the biggest companies on the index failed to be reflected in their share price.

      Business support services company DCC reported a 20 per cent growth in pre-tax profits for the year ended 31st March 2010, beating estimates and analysts' expectations. Nonetheless the stock finished 1.5 per cent lower at €18.30, falling off significantly towards the end of the session, with analysts blaming poor liquidity for the disappointing share performance.

      Similarly, positive results from Paddy Power failed to make an impact on the share price. Despite reporting very strong revenue performance in online and good betting volumes across the board, the Irish bookmaker ended the day flat at ¤26.00.

      Financials had a mixed day. Bank of Ireland shed 2 per cent to close at €1.43, as shareholders prepare to vote on the rights issue tomorrow, although this was on light volumes. Allied Irish Banks added 2 per cent to €1.23, while Irish Life & Permanent ended the session fractionally higher at €2.40.

      Financial services group IFG lost 1. 7 per cent, or 2 cent to €1.14, ahead of an interim management statement tomorrow morning.

      Both airlines ended the day in positive territory with Aer Lingus adding just over a half a percent to €0.71 and Ryanair rising 2 per cent to €3.29.
      Avatar
      schrieb am 21.05.10 07:17:44
      Beitrag Nr. 208 ()
      CRH climb of 4.8% main force in Iseq's upward swing

      SUZANNE LYNCH

      DUBLIN REPORT: Iseq: 3,108.59 (+53.46) Settlement day: May 21st

      AS EUROPEAN events continued to dictate local trends, the Iseq once again took its lead from the continent’s markets. Some upward momentum came into the Irish market yesterday and the index finished up 53.46 points at 3,108.59.

      Index heavyweight CRH led the charge, with the building stock gaining a hefty 4.8 per cent to finish at €19.07, outperforming its sectoral peers. Analysts noted an element of correction was at play, as the stock had been lagging.

      The anomalies of the Irish system were in evidence yesterday according to one trader, as stellar results from two of the biggest companies on the index failed to be reflected in their share price.

      Business support services company DCC reported a 20 per cent growth in pretax profits for the year ended March 31st, 2010, beating estimates and analysts’ expectations. Nonetheless the stock finished 1.5 per cent lower at €18.30, falling off significantly towards the end of the session, with analysts blaming poor liquidity for disappointing share performance.

      Similarly, positive results from Paddy Power failed to make an impact on the share price. Despite reporting very strong revenue performance in online and good betting volumes across the board, the Irish bookmaker ended the day flat at €26.00.

      Financials had a mixed day. Bank of Ireland shed 2 per cent to close at €1.43, as shareholders prepare to vote on the rights issue today. Allied Irish Banks added 2 per cent to €1.23, while Irish Life & Permanent ended the session fractionally higher at €2.40. Financial services group IFG lost 2 cent to €1.14, ahead of an interim management statement this morning.

      Both airlines ended in positive territory with Aer Lingus adding just over a half a per cent to €0.71 and Ryanair rising 2 per cent to €3.29.
      Avatar
      schrieb am 21.05.10 07:20:27
      Beitrag Nr. 209 ()
      The Irish Times - Thursday, May 20, 2010

      Inside the world of business

      Grounds for optimism despite Pfizer job losses

      GIVEN THE scale of the announcement – the loss of up to 785 jobs – the surprise surrounding Pfizer’s restructuring of its manufacturing operations was the relative lack of anger.

      Apart from the somewhat hysterical reference by Fine Gael enterprise spokesman Leo Varadkar to “meltdown in the multinational sector”, the focus seemed to be on looking forward rather than bemoaning a decision that had been flagged clearly as far back as Pfizer’s original bid for Wyeth.

      Pfizer and Wyeth were among the first US corporates to locate operations here. Between them, they have been major investors in the State, providing skilled employment over many years and upgrading facilities regularly to attract new business.

      Tuesday’s news, while regrettable, was inevitable. There was little logic in Pfizer acquiring Wyeth for its presence in biologics only to ignore Wyeth’s Grange Castle campus – one of the largest of its sort worldwide – and continue its own biologics investment in Cork and Dublin.

      Equally, with cholesterol drug Lipitor – Pfizer’s biggest earner – coming off patent next year, demand for the product from the Lipitor plant in Loughbeg, Ringaskiddy, was inevitably going to decline.

      Even following this news, Pfizer will be one of the largest employers in the State. It signalled in its restructuring announcement that it intends investing more money and hiring more people at Grange Castle, with Ireland continuing to be a centre of excellence in biotechnology for the group.

      Importantly, two of the three plants destined for closure have seen significant recent investment to allow biopharmaceutical operations. Even in today’s difficult environment, the Irish life sciences sector saw exports grow 20 per cent last year. With up to four years to find a buyer for these plants, there are grounds for optimism that an existing or incoming biopharma group will preserve some of the 285 jobs involved.
      AIB counts cost of M&T cold feet

      AN OPPORTUNITY for Allied Irish Banks (AIB) to sell one of three key overseas businesses to hit the Financial Regulator’s capital target of €7.4 billion has passed.

      Sovereign Bank, owned by Spain’s Banco Santander, had been in advanced merger discussions with M&T Bank, in which AIB has a 22.5 per cent interest, but talks stalled as M&T got cold feet about the potential marriage.

      Santander, which is ploughing a much different furrow from its weaker European rivals, is keen to push into the US market, using Sovereign as a springboard to growth.

      The plan, as it was being formulated, would have involved M&T purchasing Sovereign from Santander with the Spanish bank taking a stake in an enlarged M&T. Santander would then have bought AIB’s stake in M&T.

      Combining the two banks would have created a new regional banking power in the northeastern US with branches located from Maine to Maryland.

      Eamonn Hughes, analyst at Goodbody Stockbrokers, believes that AIB could make €4.7 billion selling its stake in MT, its Polish business BZ WBK and its UK division.

      The Sovereign-M&T tie-up would have helped AIB generate some capital, though the bank will still be shy of the regulator’s levels after offloading the overseas assets. This will leave AIB in line for majority State ownership.

      M&T is valued at $10.2 billion, leaving AIB’s stake worth about €1.8 billion. The Irish bank’s shareholding is now likely to be sold on the open market.

      Santander is also one of the businesses being talked about as a potential suitor of AIB’s UK business along with British bank HSBC and National Australian Bank.

      Being poster boys again is the last thing we need

      AS THE European Commission breathes ever more heavily down the Government’s neck, Brian Lenihan may take some comfort from an assessment of Irish policies from US financial guru Paul Volcker (82). A former chairman of the Fed and prized adviser to the Obama administration, Volcker on Tuesday said time was “growing short” for the US to solve its financial problems, including its ballooning deficit and its surging social security commitments. Urging the powers that be to get moving before today’s problems become “tomorrow’s existential crises”, Volcker said the US should be more like . . . Ireland.

      “In the United States, we don’t seem to me to share the same sense of urgency as countries such as Ireland,” Volcker told a gathering in Stanford, California.

      Coming as it does in a week where the Republic managed a successful bond sale in a torrid market while the Spanish almost floundered, the crumb of praise must make some in Kildare Street a warm glow. But let’s hope it doesn’t go to anybody’s head, or, even worse, give rise to a flow of positive comment. The last thing anybody in Government needs at this very delicate time is to think their job is done. And the last thing any of us need – heaven forbid – is a return to our days as the economics poster boy of Europe.
      Avatar
      schrieb am 23.05.10 12:14:02
      Beitrag Nr. 210 ()
      News : Irish Last Updated: May 20, 2010 - 5:36:56 PM

      AIB says it has provided finance for 38% of all Irish residential property transactions in the first quarter of 2010
      By Finfacts Team
      May 20, 2010 - 4:10:09 PM




      News : Irish Last Updated: May 20, 2010 - 5:36:56 PM

      AIB says it has provided finance for 38% of all Irish residential property transactions in the first quarter of 2010
      By Finfacts Team
      May 20, 2010 - 4:10:09 PM



      AIB today announced that it has provided finance for 38% of all Irish residential property transactions* in the first quarter of 2010.

      In particular, AIB said it has increased mortgage lending to first time buyers by 23% in comparison to the first quarter of 2009. This level of new business activity is strong evidence of AIB’s ongoing commitment to the housing market and to the wider economy. In this environment, AIB also has a strong focus on supporting its customers who may be struggling to meet their mortgage repayments and has a range of measures in place, including interest only or moratoria.

      Michael Quirke, Head of Mortgage Products, AIB Bank said: “AIB is continuing to see a steady flow of good quality mortgage applications from both first time buyers and those moving home, despite lower levels of demand for mortgage finance. We are open for business for home mortgages and have funds available to support those purchasing a property in 2010, both new and existing customers.

      The bank is working with industry and government groups on developing sustainable long term solutions for customers in difficulty. Our key message is to talk to us if you are having trouble keeping up with payments or if you feel you may be heading into difficulty. We want to assure our customers of our support and will work with them to help them get back on track.”

      *Residential property transactions include first time buyer, mover and buy to let categories in the Republic of Ireland as taken from the IBF / PwC Mortgage Market Profile.


      http://www.finfacts.ie/irishfinancenews/article_1019732.shtm…
      Avatar
      schrieb am 24.05.10 09:21:47
      Beitrag Nr. 211 ()
      he Irish Times - Monday, May 24, 2010
      Why does no one seem to want to buy all of AIB?

      BUSINESS OPINION: A lack of clarity as to the bank’s real losses is casting shadows over the prospect of its sale, writes JOHN McMANUS

      THE MOOD must be grim down at Bankcentre. As Bank of Ireland inches away from the State’s clutches, AIB’s plans to remain independent are going nowhere fast and it seems destined for dismemberment with majority State ownership for the domestic rump of the business.

      It’s not a very appealing prospect for shareholders or management and it’s surprising that we are not hearing more about the bank’s plan B. As far back as last autumn, we were hearing reports that international suitors were eying up AIB. The bank’s management did little to disabuse us of the notion that if it came down to choice between a sale of the bank or State-sponsored death by a thousand cuts, the board’s preference was that the bank would be sold as that was in the best interest of shareholders.

      It now looks as though this was little more than sabre-rattling ahead of the going-live of the National Asset Management Agency (Nama) and the Central Bank’s assessment of the banks’ capital needs. The inference seemed to be if Nama went too hard on the haircuts and the regulator asked for too much capital, the board would sell the bank.

      You might be tempted to ask a question: what harm if it did? From the State’s perspective, it’s six of one and half a dozen of the other. As things stand, the Government does not plan to put any more cash into AIB and, if anything, would be hoping to get some back. The impact on the exchequer of a sale versus the current dismemberment plan is broadly neutral. If anything, it is a public policy issue. What would be better for the economy – to have the biggest player in retail banking owned by a foreign bank or for the State to own it? Hobson’s choice. But one suspects there is an attraction in foreign ownership, as it makes future problems the responsibility of a foreign regulator and ultimately a foreign government as is the case with Ulster Bank and Bank of Scotland (Ireland). By the same token, a foreign-owned AIB would be kept on a very tight leash.

      It’s a dilemma, but for the time being it is moot as nobody appears that interested in AIB.

      It must have come as a blow for AIB to learn that Spanish giant Santander was courting MT, the US regional bank in which AIB has a 22.5 per cent stake that it must now sell. The talks with MT appear to have stalled, but Santander is also in the frame for part of AIB’s UK business.

      The question is why does Santander seem more interested in picking apart AIB rather than buying it outright? Even if it did not particularly want some of AIB’s other valuable assets – such as its stake in Poland’s Bank Zachodni WBK bank – it would stand to make a turn on these assets by warehousing them until market conditions improve.

      It would appear that a lack of clarity about the value of the core Irish franchise seems to be the problem. Before you bought AIB, you would need to have comfort that the bank’s estimates of the losses in its Irish business – and the Central Bank’s estimates of the amount of capital required to meet them – are good.

      This requires taking a view on at least two things. The first is how well the bank actually knows its own business; and the second is the general direction of the Irish economy.

      There seems to be consensus that the Irish economy is on the mend, as reflected in Bank of Ireland’s ability to have a rights issue (priced to go as it may be). The conclusion then is that AIB’s real problem is worries about the losses in its Irish loan book.

      There are a couple of sound reasons for such caution. The haircuts applied by Nama to AIB and Bank of Ireland were not that different, but AIB is transferring almost twice as many loans to Nama. The perception remains that once the two big banks decided to chase Anglo Irish Bank for market share, it was AIB that did it with the most enthusiasm. Reorganisation of credit control in the Irish bank, instigated by Colm Doherty since his appointment as managing director, is tacit confirmation of this.

      Given that in a straight sale any black hole in AIB’s domestic loans book would become the problem of its new owner, then it is easy to see why foreign regulators (and governments) would be less than enthusiastic about one of their banks buying AIB.

      The current nervousness in the market about the viability of the deflationary economic strategy being adopted by euro-zone peripheral states – including Ireland – can only add to unease.

      If AIB is serious about selling itself, it has a couple of choices. One is to wait things out and get a couple more quarters under its belt to underpin its assessment of the Irish business’s losses. And the Central Bank’s decision to give it until December to agree the disposal of its overseas assets makes this possible.

      The alternative is to find a third party to guarantee losses on its Irish book over a certain level. The Irish Government is the obvious candidate, but it’s hard to see that one fly.


      http://www.irishtimes.com/newspaper/finance/2010/0524/122427…
      Avatar
      schrieb am 25.05.10 14:43:06
      Beitrag Nr. 212 ()
      AIB launch fund for small firms

      Tuesday May 25 2010

      AIB has announced it is to provide €500m to a new initiative aimed at helping its small business customers.

      The bank says the initiative is part of its recapitalisation commitment to the Government for an additional €3bn in new or additional SME lending in each of 2010 and 2011.

      Available from June across all of AIB's 270 branches, the aim of the scheme is to support 'viable small businesses' through the current economic climate.

      The bank says that under the initiative, small business customers with existing branch based current and loan commitments can be ‘restructured’ into a single recovery loan.

      This ‘restructured debt’ will be offered by way of a recovery loan over an agreed term with an interest only option for up to the first two years.

      The bank also says that if required, additional working capital will be available.

      Commenting on the move AIB General Manager Denis O’Callaghan said: “We know we have a role to play in supporting our customers and in the general economic recovery.

      "This scheme provides us with a mechanism to provide much needed ‘breathing space’ that small businesses need to ease cash flow and improve their prospects for recovery.”

      Online Editors


      http://www.independent.ie/business/small-business/aib-launch…
      Avatar
      schrieb am 26.05.10 07:19:43
      Beitrag Nr. 213 ()
      AIB falls amid fears over its ability to raise capital



      By Joe Brennan

      Wednesday May 26 2010

      Allied Irish Banks led financial stocks down as much as 13pc yesterday as mounting global market volatility stoked fears about the group's ability to raise enough private capital to fend off the State taking a significant majority stake.

      The group must raise €7.4bn by the end of this year to hit new regulatory capital targets. While analysts estimate AIB could generate up to €4.5bn from the sale of foreign assets, it would still need to raise a further €3bn by selling shares.

      Bank of Ireland's current €1.7bn rights issue -- the cornerstone of a €3.56bn equity raise -- is fully underwritten by five brokers. But a poor take-up of the stock among existing investors would send a very negative signal for Ireland Inc, particularly AIB, which is next in line to approach investors.

      "Allied Irish in particular is struggling because people are struggling to work out how they can raise their capital by the year-end with their share price where it is at the moment," one trader said.

      AIB plunged 12.8pc to 90.7c yesterday, while BoI tumbled 8.9pc to 66.5c. They performed worse than the weaker European banking sector, which dropped 4.6pc yesterday.

      AIB has put up for sale some of its most profitable units, including stakes in Poland's BZ WBK and M&T Bank in the US, and traders said the current volatility could hit the prices it is looking for.

      "Because of what has happened globally in the last week or two, especially in the last two or three days, no bank is going to stick its head above the parapet and start buying other banks," a trader said.

      Meanwhile, a report by Swiss ratings agency Independent Credit View highlighted that the two main Irish banks have significant capital deficits as global banks face the prospect of plugging a $1.5 trillion (€1.2 trillion) gap in their balance sheets by the end of 2011. (Additional reporting, Reuters and Bloomberg)

      - Joe Brennan

      Irish Independent
      Avatar
      schrieb am 27.05.10 08:13:57
      Beitrag Nr. 214 ()
      Mooted bid for AIB's Polish unit boosts Zachodni bank shares

      http://www.independent.ie/business/irish/mooted-bid-for-aibs…
      Avatar
      schrieb am 27.05.10 19:25:56
      Beitrag Nr. 215 ()
      esjuckt ja schon hier eine position aufzubauen, oder?
      Avatar
      schrieb am 27.05.10 20:36:03
      Beitrag Nr. 216 ()
      Antwort auf Beitrag Nr.: 39.595.379 von gertrude am 27.05.10 19:25:56Jo...bei diesen Kursen konnte ich als AIB-ORAKEL...nicht NEIN sagen !

      :D
      Avatar
      schrieb am 27.05.10 22:45:33
      Beitrag Nr. 217 ()
      Antwort auf Beitrag Nr.: 39.595.867 von Aktientitan am 27.05.10 20:36:03ich hab mir heute den chart angesehen, die allgemeine lage an den märkten und mußte auch zuschlagen.

      ich bin sicher morgen werden wir schon das erste mal belohnt werden.
      Avatar
      schrieb am 30.05.10 13:26:56
      Beitrag Nr. 218 ()
      habt ihr euch den chart mal angesehen?
      Avatar
      schrieb am 30.05.10 16:26:53
      Beitrag Nr. 219 ()
      Antwort auf Beitrag Nr.: 39.605.379 von gertrude am 30.05.10 13:26:56na ja, wenn du glück hast hält die ein-euro-marke...

      ansonsten droht im zuge der wohl für den herbst anstehenden mammuth-kapitalerhöhung ein weiterer rutsch. im schlimmsten fall zurück auf LOS oder arrividerci..
      Avatar
      schrieb am 30.05.10 19:24:57
      Beitrag Nr. 220 ()
      Antwort auf Beitrag Nr.: 39.605.670 von jacomo1 am 30.05.10 16:26:53seh ich anders....

      einen wesentlichen anteil an der beschaffung des kapitals wird der verkauf des anteils an der polnischen bank haben.

      als letzte option ist die regierung bereit ihren anteil von derzeit ca 15% zu erhöhen.

      abwarten sag ich... ich bin hier kein langfristinvestor und gehe von einem schnellen gewinn in den nächsten 4 wochen aus.

      liebe grüße
      g
      Avatar
      schrieb am 31.05.10 22:05:38
      Beitrag Nr. 221 ()
      warten auf die -hoffentlich- gute nachricht.

      mein "riecher" wird mich doch nicht im stich lassen.....

      ;)
      Avatar
      schrieb am 01.06.10 08:08:59
      Beitrag Nr. 222 ()
      AIB's Polish arm's stock rises as French re-emerge for bid



      By Joe Brennan

      Tuesday June 01 2010

      Shares in Allied Irish Banks' Polish unit Bank Zachodni WBK continued to rally yesterday as two leading French banks apparently re-emerged in the race to buy the Warsaw-listed lender.

      Bank Zachodni's stock added 0.8pc to 206 zloty (€50.50), bringing its advance over the past five sessions to almost 12pc, amid renewed hopes the bank's sale will attract strong interest.

      "You're going to get a lot of posturing from a lot of people before the first round of bids are due in," a source familiar with the sale said yesterday. "Everybody's going to want to have a look at the information memorandum on the sale -- but that doesn't mean they're serious buyers."

      French daily 'La Tribune' reported yesterday that BNP Paribas and Societe Generale (SocGen) were both looking "very seriously" at Bank Zachodni, Poland's fifth-biggest bank, in which AIB has a 70.2pc stake.

      The report suggested both are looking at documentation relating to the sale. However, it is understood the information memorandum has not yet been circulated to prospective buyers, though this is expected to take place within days. The first round of bids will be due in the second half of June.

      The reported interest of BNP Paribas goes against recent comments from the financial giant's chief executive, Baudouin Prot, that he had "no" interest in Bank Zachodni.

      Yesterday's reports put the French group as being best placed to win the bidding, while suggesting that SocGen would need to raise additional capital to seal a deal. Last week, Polish newspaper Rzeczpospolita said that SocGen would not be bidding for Bank Zachodni.

      Transaction

      AIB would hope to have announced a transaction by September, along with the sale of its 22.5pc stake in US bank M&T and, possibly, its UK unit -- before going cap-in-hand to shareholders and the Government to plug the remainder of the hole in its balance sheet.

      "The sale of the Polish bank is anticipated to net AIB €2bn, accounting for the lion's share of our estimate of its proposed €4.4bn disposal gains," said Eamonn Hughes, analyst with Goodbody Stockbrokers.

      AIB must raise €7.4bn by the end of this year to bolster its balance sheet against mounting impaired losses and meet a new regulatory capital levels.

      Last week, it emerged the Polish government was speculated to be mulling joining forces with state-controlled financial groups -- including the country's largest lender, PKO, and insurer PZU -- to mount a bid for Bank Zachodni.

      - Joe Brennan

      Irish Independent
      Avatar
      schrieb am 01.06.10 10:30:32
      Beitrag Nr. 223 ()
      Antwort auf Beitrag Nr.: 39.605.992 von gertrude am 30.05.10 19:24:57meiner Meinung nach wird leider der generelle europaweite "Sparzwang" in Verbindung mit der gedämpften chinesischen Konjukturerwartung und der enormen Staatsverschuldung der USA, die auch zurückgeführt werden muss, mittelfristig zu einer ebenso gedämpften Börsenentwicklung beitragen.

      Die besondere Situation der AI könnte vielleicht zu einem kurzfristigen Hebel führen, der kurzfristig vielleicht bis auf 1,18 gehen könnte.Bei derzeit 0,93 wäre das ok.
      Avatar
      schrieb am 01.06.10 20:00:49
      Beitrag Nr. 224 ()
      Antwort auf Beitrag Nr.: 39.612.866 von axelarnoldbangert am 01.06.10 10:30:32hast hoffentlich gekauft....

      01.06.2010 10:47
      SocGen hebt Allied Irish Banks auf 'Buy' - Ziel 1,60 Euro

      Die Societe Generale (SocGen) hat Allied Irish Banks von "Hold" auf "Buy" hochgestuft und das Kursziel von 1,35 auf 1,60 Euro erhöht. Die Lage der irischen Bankenbranche beginne sich zu normalisieren, schrieb Analyst Omar Keenan in einer Branchenstudie am Dienstag. Die Institute würden nach Beteiligungsverkäufen und Kapitalerhöhungen zwar kleiner sein. Sie seien traditionell aber ertragsstark. Außerdem beurteile er die Konjunkturaussichten Irlands positiv.

      AFA0018 2010-06-01/10:44
      Avatar
      schrieb am 03.06.10 11:22:53
      Beitrag Nr. 225 ()
      Halo an Alle,

      Ich habe die Aktie (NYSE:AIB)) einmal näher unter die Lupe genommen und dabei ein großes Rebound-Potential festgestellt. Mag sein, dass ich falsch liege deshalb will ich Eure Meinung hören!


      Danke im Voraus
      Avatar
      schrieb am 03.06.10 11:27:05
      Beitrag Nr. 226 ()
      Watch For Rebound!

      "Allied Irish Banks (NYSE:AIB) traded in a range yesterday that spanned from a low of $2.44 to a high of $2.53. Yesterday, the shares fell 1.95%, which took the trading range below the 3-day low of $2.50 on volume of 4.2 million shares.
      Shares of Allied Irish Banks are currently trading below their 50-day moving average (MA) of $3.64 and below their 200-day MA of $4.99. Look for these MAs to provide resistance for a short-term rebound in the shares.
      SmarTrend is bearish on shares of Allied Irish Banks and our subscribers were alerted to Sell on May 06, 2010 at $3.11. The stock has fallen 19.2% since the alert was issued.
      SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $2.51 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Foreign Money Center Banks industry".

      Quelle: http://www.mysmartrend.com
      Avatar
      schrieb am 03.06.10 11:41:57
      Beitrag Nr. 227 ()
      Reboundpotenzial bis $ 3,50???

      http://www.google.com/finance?q=NYSE:AIB


      Bitte um Meinungen oder Kritiken!
      Avatar
      schrieb am 03.06.10 12:20:39
      Beitrag Nr. 228 ()
      Hmmm...

      März, 2010: "SANTANDER, the Spanish banking giant, is considering a bid for the UK business of Allied Irish Banks. A network of about 40 branches will be formally put up for sale this week as part of a state bailout of the struggling Irish lender.

      The business, which includes a large retail and commercial loan book, is valued at about £900m.......
      -----------------------------------
      AIB POLLAND steht auch vor möglichem Übernahme!???

      ABOUT: AIB Group's Polish subsidiary Bank Zachodni WBK S.A. is one of the leading commercial banks in Poland and offers a full range of commercial banking products both for corporate and personal clients. Bank Zachodni WBK S.A. is also active on the Polish capital market. Bank Zachodni WBK S.A. has a network of over 400 branch offices and other outlets.
      ------------------------------------

      Derzeit haben wir fallende und stagnierende Kurse. Das sind klare Signale für mich das eine mögliche Übernahme bevorsteht. Mit dieser Strategie vertreibt man die Spekulanten und Kleinanleger/Investoren aus der Aktie!
      Avatar
      schrieb am 03.06.10 14:35:16
      Beitrag Nr. 229 ()
      warum ist der kurs so runter gekommen, sind die bald pleite.
      kann mich jemand aufklären??
      Avatar
      schrieb am 03.06.10 15:56:07
      Beitrag Nr. 230 ()
      Antwort auf Beitrag Nr.: 39.627.200 von rzrn63 am 03.06.10 14:35:16DAY-Traden..:)

      Watch For Rebound????!!!

      Hab in den USA nochmals nachgelegt, weil der meinung bin, dass die aktie vor dem aubruch steht!
      Avatar
      schrieb am 03.06.10 15:57:03
      Beitrag Nr. 231 ()
      Avatar
      schrieb am 04.06.10 11:59:04
      Beitrag Nr. 232 ()
      Avatar
      schrieb am 04.06.10 12:09:39
      Beitrag Nr. 233 ()
      Hab mir auch grad mal ein paar Papiere zugelegt.

      Allerdings nicht, weil ich SocGen traue. Die wollen nur wieder ihre Risiken aus den eigenen Deopts haben. Sobald Allied auf 1,60 EUR ist, können die abstoßen.

      Ich sehe allerdings durchaus kurzfristiges Kurspotential bis mind. 1,23 EUR.
      Ist allerdings keine sichere Kiste, Rückschlagspotential ist ebenso da.
      Avatar
      schrieb am 04.06.10 14:35:20
      Beitrag Nr. 234 ()
      Hallo,

      Was mir momentan sorgen macht ist die bevorstehende Kapitalerhöhung::( z.B. wie hoch wird eine nötige Kapitalerhöhung ausfallen???
      Avatar
      schrieb am 04.06.10 14:36:43
      Beitrag Nr. 235 ()
      hmmm..Pre-market in den USA: 2.35 -0.13 (-5.24%):(
      Avatar
      schrieb am 06.06.10 20:19:26
      Beitrag Nr. 236 ()
      AIB's good news from Poland

      Sunday June 06 2010

      THE emergence of several possible bidders for its 70 per cent stake in Polish bank BZ WBK is the best piece of news Allied Irish Banks shareholders have had for a long time.

      With several would-be purchasers having expressed an interest, AIB is on track to raise at least €2bn from a sale.

      Two weeks ago it was reported that French banks BNP-Paribas and SocGen were interested in purchasing the AIB stake. This suggestion was quickly rubbished by SocGen boss Baudouin Prot.

      However, reports last week indicated that both BNP-Paribas and SocGen were still very much interested in the BZ WBK stake.

      They are not alone. Also reputed to be interested are UK bank HSBC, the Spanish banks Santander and BBVA, the Russian bank Sberbank and a Polish government-backed consortium headed up by that country's biggest lender, PKO.

      If even half of these would-be purchasers turn up on the night, then AIB will be spoiled for choice.

      Oh, and just for good measure AIB chairman Dan O'Connor's horse Charminamix won last Sunday's Grangecon Stud Handicap at Leopardstown at 11/1. If he does half as well at the negotiating table as he has at the racecourse, then AIB shareholders won't begrudge O'Connor his good fortune.

      Sunday Independent

      Quelle: http://www.independent.ie/business/irish/aibs-good-news-from…
      --------------------------------

      Ich werde morgen nachkaufen!!!!!!
      Avatar
      schrieb am 07.06.10 09:37:12
      Beitrag Nr. 237 ()
      soeben nachgekauft!!:D:lick::lick:
      Avatar
      schrieb am 07.06.10 15:59:28
      Beitrag Nr. 238 ()
      Antwort auf Beitrag Nr.: 39.639.958 von Pokerlui007 am 07.06.10 09:37:12Reicht nicht.
      Nehm noch mal 'n paar! :yawn:
      Avatar
      schrieb am 07.06.10 17:45:15
      Beitrag Nr. 239 ()
      ich habe heute bereits die Reissleine gezogen :(
      Avatar
      schrieb am 07.06.10 17:47:05
      Beitrag Nr. 240 ()
      Nun ja, Ambac scheint interessant zu sein :)
      Avatar
      schrieb am 07.06.10 18:10:25
      Beitrag Nr. 241 ()
      Antwort auf Beitrag Nr.: 39.642.900 von sstuce am 07.06.10 17:45:15...und ich bin heute rein
      Avatar
      schrieb am 07.06.10 21:28:26
      Beitrag Nr. 242 ()
      ich glaube heute rein war die bessere entscheidung....
      Avatar
      schrieb am 07.06.10 21:47:48
      Beitrag Nr. 243 ()
      Antwort auf Beitrag Nr.: 39.644.586 von gertrude am 07.06.10 21:28:26So sehe ich es auch. Hab heute zwei mal nachgekauft. Eine kleine positive Nachricht und dass Ding platz wie eine Rakete. ;)
      Avatar
      schrieb am 07.06.10 23:04:18
      Beitrag Nr. 244 ()
      Antwort auf Beitrag Nr.: 39.644.782 von think-positive am 07.06.10 21:47:48Morgen wird billiger :lick:
      Avatar
      schrieb am 08.06.10 09:39:06
      Beitrag Nr. 245 ()
      Heute ist ein guter Nachkaufstag!
      Avatar
      schrieb am 08.06.10 10:32:51
      Beitrag Nr. 246 ()
      Antwort auf Beitrag Nr.: 39.646.467 von sstuce am 08.06.10 09:39:06Stimmt. Bin im Durschnitt mit 0,99€ dabei. Habe aber kein Problem damit, wenns auch weiter fällt. Wenn mal endlich ein Verkaufsvertrag mit der polnischen Bank steht, dann werden wir voraussichtlich diese Kurse erstmal lange Zeit nicht mehr sehen.;)
      Avatar
      schrieb am 08.06.10 13:06:09
      Beitrag Nr. 247 ()
      Wie geschrieben - morgen wird billiger. Pre market in den USA>>

      Der Kurs fällt :D

      http://www.google.com/finance?q=NYSE:AIB
      Avatar
      schrieb am 08.06.10 14:11:45
      Beitrag Nr. 248 ()
      Antwort auf Beitrag Nr.: 39.648.081 von sstuce am 08.06.10 13:06:09Hab in Deutschland erworbene AIB-Aktien verkauft...Auch US-Bestand fliegt (mit Verlust) heute aus dem Depot..:(


      Allen noch Investierten viel Glück!
      Avatar
      schrieb am 08.06.10 15:27:15
      Beitrag Nr. 249 ()
      Antwort auf Beitrag Nr.: 39.648.448 von sstuce am 08.06.10 14:11:45Ob dass wohl richtig war, werden wir ja in der nächsten Zeit sehen. Die Aktie fällt schon eine ganze weile. Rebound sthet Bald an. NmM
      Avatar
      schrieb am 08.06.10 15:56:52
      Beitrag Nr. 250 ()
      Antwort auf Beitrag Nr.: 39.649.009 von think-positive am 08.06.10 15:27:15Das muss jeder selbst wissen,aber ich bin auch der Meinung bald tut sich etwas.
      Werde in dieser Woche noch nachkaufen!
      Avatar
      schrieb am 08.06.10 18:19:38
      Beitrag Nr. 251 ()
      Wann geht es endlich in die andere Richtung?:rolleyes:
      Avatar
      schrieb am 08.06.10 21:22:14
      Beitrag Nr. 252 ()
      Antwort auf Beitrag Nr.: 39.650.459 von Market-Insider am 08.06.10 18:19:38Kaufen, wenn sie keiner will...! Ich hab's getan.

      Der Gesamtmarkt sah heute auch nicht gut aus, da kann es bald wieder aufi gehen.

      Ich drücke allen Investierten die Daumen!!;)



      Gruß Carola


      Keine Kaufs- bzw. Verkaufsempfehlung.
      Avatar
      schrieb am 08.06.10 21:43:26
      Beitrag Nr. 253 ()
      Antwort auf Beitrag Nr.: 39.651.784 von Carola11 am 08.06.10 21:22:14morgen hoffentlich.....
      Avatar
      schrieb am 08.06.10 23:48:21
      Beitrag Nr. 254 ()
      Antwort auf Beitrag Nr.: 39.651.992 von gertrude am 08.06.10 21:43:26was macht Unylon Gertrude?
      Avatar
      schrieb am 09.06.10 09:06:22
      Beitrag Nr. 255 ()
      Antwort auf Beitrag Nr.: 39.642.921 von sstuce am 07.06.10 17:47:05War doch nichts mit dem AMBAC, oder? Bei AIB wäre man besser aufgehoben.:)
      Avatar
      schrieb am 09.06.10 09:36:41
      Beitrag Nr. 256 ()
      Antwort auf Beitrag Nr.: 39.653.333 von think-positive am 09.06.10 09:06:22Wat..?? Doch. Ich habe gestern, wie angekündigt,Gewinne bei Ambac vorbörslich mitgenommen!
      Hier könnte heute Einiges noch gehen...:)

      AIB ist für (positive) Überraschungen immer gut!
      Avatar
      schrieb am 11.06.10 08:01:14
      Beitrag Nr. 257 ()
      The Irish Times - Thursday, June 10, 2010
      BoI shares not taken up in rights issue offloaded in market

      SIMON CARSWELL Finance Correspondent

      UNDERWRITING institutions managing the Bank of Ireland sale of new shares offloaded the 169 million units not taken up by existing shareholders in the rights issue.

      The bank confirmed that existing shareholders had purchased about 95 per cent of the new stock on offer, raising €1.7 billion. The five institutions which guaranteed the rights issue sold the 5 per cent rump not taken up at a price of 75 cent a unit.

      The Government has taken a 36 per cent stake after participating in the rights issue, buying €630 million of new stock after converting €1 billion of the State’s €3.5 billion preference share investment to ordinary stock in an earlier private placing.

      This implies a 91.5 per cent take-up among shareholders. The rights issue – part of a €3.56 billion capital-raising programme – leaves the bank “in a strong position to compete in the Irish banking market”, said Bloxham Stockbrokers analysts, and makes it the first bank to pass the Financial Regulator’s capital targets.

      The new shares are expected to start trading next Monday.

      The bank has boosted its capital base by €300 million more than the level set by the regulator at the end of March. Following the share offer, between 20 and 25 per cent of the shareholders are retail investors – roughly the pre-crisis level – while institutions will hold 40-45 per cent.

      Analysts said that while the Bank of Ireland’s right issue was a success, similar capital-raising plans by Allied Irish Banks and Irish Life Permanent later in the year would be affected by the continuing crisis in the debt markets.

      AIB must tap shareholders for capital after raising an estimated €4.4 billion from the sale of its businesses in Poland, the US and the UK to meet the €7.4 billion capital target set by the regulator.

      IL&P – which, unlike the other banks, is not participating in the National Asset Management Agency – must raise €900 million in additional capital to absorb higher loan losses and meet the regulator’s new capital targets.

      http://www.irishtimes.com/newspaper/finance/2010/0610/122427…
      Avatar
      schrieb am 11.06.10 09:37:53
      Beitrag Nr. 258 ()
      Antwort auf Beitrag Nr.: 39.666.857 von Aktientitan am 11.06.10 08:01:14Ich sage nur - Stock To Buy!!!


      Erwarte ein höherer Aktienkurs...

      kaufen
      Avatar
      schrieb am 11.06.10 10:58:01
      Beitrag Nr. 259 ()
      01.06.2010 10:47
      SocGen hebt Allied Irish Banks auf 'Buy' - Ziel 1,60 Euro

      Die Societe Generale (SocGen) hat Allied Irish Banks von "Hold" auf "Buy" hochgestuft und das Kursziel von 1,35 auf 1,60 Euro erhöht. Die Lage der irischen Bankenbranche beginne sich zu normalisieren, schrieb Analyst Omar Keenan in einer Branchenstudie am Dienstag. Die Institute würden nach Beteiligungsverkäufen und Kapitalerhöhungen zwar kleiner sein. Sie seien traditionell aber ertragsstark. Außerdem beurteile er die Konjunkturaussichten Irlands positiv.

      AFA0018 2010-06-01/10:44


      würde nicht vor einer KE kaufen - siehe BOI
      Avatar
      schrieb am 11.06.10 11:10:58
      Beitrag Nr. 260 ()
      Antwort auf Beitrag Nr.: 39.668.108 von berlingruss am 11.06.10 10:58:01KLAR, weil sie mehr wissen..:)

      WEIL die französischen Großbanken BNP Paribas und Societe Generale nach Medienberichten Interesse an einer übernahme der polnischen Bank Zachodni WBK haben.

      Nach Informationen der französische Zeitung “La Tribune” erwägen die beiden Institute den Erwerb des 70%-Pakets der Allied Irish Banks plc (AIB). (Deshalb - Warten angesagt).

      > Das könnte die aktie beflügeln <


      Also, wie gesagt, KAUFEN könnte sich sogar lohnen. Wer weiß?????
      Avatar
      schrieb am 11.06.10 12:25:23
      Beitrag Nr. 261 ()
      Antwort auf Beitrag Nr.: 39.668.196 von sstuce am 11.06.10 11:10:58eigenartiger verlauf bis jetzt jeden tag das gleiche bild sind hier alle so nervös wegen der ke oder woran kann es liegen gruss
      Avatar
      schrieb am 11.06.10 12:53:48
      Beitrag Nr. 262 ()
      Antwort auf Beitrag Nr.: 39.668.761 von flippu am 11.06.10 12:25:23sieh dir einfach mal den kurs von BOI vor und nach der KE an - dann hast du die antwort.
      Avatar
      schrieb am 11.06.10 13:07:31
      Beitrag Nr. 263 ()
      Antwort auf Beitrag Nr.: 39.668.196 von sstuce am 11.06.10 11:10:58na wenn dein riecher hier genauso versagt wie bei bp, dann sind deine kaufempfehlungen hier nicht allzu ernst zu nehmen!
      Avatar
      schrieb am 11.06.10 14:08:33
      Beitrag Nr. 264 ()
      Hallo Leidensgenossen,

      jeder ist für sich selbst verantwortlich und jeder verliert oder gewinnt sein eigenes Geld!

      Wir werden sehen was die KE bewirkt und welche Richtung der Kurs nimmt!

      Persönlich glaube ich die Durststrecke ist bald überwunden,deshalb habe ich heute bei 0,89€ gekauft!

      Alles kann,nichts muß! :D

      Gruß
      hauswand :cool:
      Avatar
      schrieb am 11.06.10 14:53:13
      Beitrag Nr. 265 ()
      Hier bei AIB braucht man sehr viel Geduld und gute Nerven um diese Manipulationsfalle auszuhalten - Manipulator versucht noch den letzten Lemming zu vertreiben um günstig aktien einzusammeln!!!
      Avatar
      schrieb am 11.06.10 15:11:40
      Beitrag Nr. 266 ()
      Antwort auf Beitrag Nr.: 39.669.751 von sstuce am 11.06.10 14:53:13Die Aktie ist aus meiner Sicht ein gutes Langfristinvestmen.
      Trotzdem darf man Risiken durch eine mögliche Komplettverstaatlichung nicht unterschätzen - Wenn die Krise z.B.zurückkehrt...
      Avatar
      schrieb am 11.06.10 15:44:03
      Beitrag Nr. 267 ()
      ja klar:

      informierten kreisen zufolge, soll die kriese im moment nicht da sein. aber wehe wenn sie wieder zurückkommt!
      Avatar
      schrieb am 12.06.10 10:43:23
      Beitrag Nr. 268 ()
      Italian group eyes AIB's Polish unit

      Intesa Sanpaolo is “looking at” the Polish unit of Allied Irish Bank, the Italian bank’s chief executive Corrado Passera told reporters in Venice yesterday, according to a report by Bloomberg.

      Intesa Sanpaolo is the largest banking group in Italy and has a market capitalisation of €27.3 billion.

      It has more than 5,900 branches in Italy and about 11.3 million customers.

      AIB has a 70 per cent stake in Polish lender BZ WBK which it has put up for sale as part of its efforts to raise €7.4 billion to meet the Financial Regulator’s new capital requirements by the end of this year.
      Avatar
      schrieb am 12.06.10 12:02:48
      Beitrag Nr. 269 ()
      Antwort auf Beitrag Nr.: 39.669.751 von sstuce am 11.06.10 14:53:13du schreibst:"Manipulator versucht noch den letzten Lemming zu vertreiben um günstig aktien einzusammeln!!!"


      ich war einer der ersten die AIB und BOI anfang 2009 gekauft hatten.als ich im sommer nach der NAMA entscheidung verkaufte wurde ich ausgelacht - heute lacht keiner mehr!

      na logo will ich AIB einsammeln jedoch nicht vor der KAPITALERHÖHUNG !

      sieh dir den kursverlauf der BOI an,denkst du AIB koppelt sich da ab - zumal die billanzen von AIB düsterer als die von BOI aussehen.

      also ich werde NACH der ke kaufen,aber soll jeder selber entscheiden was er tut.... :keks:
      Avatar
      schrieb am 12.06.10 12:15:14
      Beitrag Nr. 270 ()
      Antwort auf Beitrag Nr.: 39.673.201 von berlingruss am 12.06.10 12:02:48moin,

      wärst du so nett, einen chart von BOI reinzustellen, der tatsächlich die Kapitalerhöhung integriert hat..bei Yahoo geschieht das nämlich nicht..
      wann war genau die Kapitalerhöhung?

      many thanx
      Avatar
      schrieb am 12.06.10 12:41:10
      Beitrag Nr. 271 ()
      Antwort auf Beitrag Nr.: 39.673.224 von jacomo1 am 12.06.10 12:15:14also BOI hat anfang april die ke angekündingt da waren sie bei 1,80.....dann ging bergab bis 0,68....bezugrechte waren glaub ich ca.17cent wert nun sind sie inkl.der bezugsrechte bei 0,783

      also von 1,80 vor der ke auf 0,783 jezt(11.02.2010) nach der ke.

      :eek:
      Avatar
      schrieb am 12.06.10 12:45:38
      Beitrag Nr. 272 ()
      wie dumm als bank muss man eigentlich sein,genau zu der Grichenlanpanik wo alle banken runtergeprügelt werden eine KE zu machen ?

      und gerade irland ist ja auch so ein wackelkandidat....

      vom tiemig her war das ja der supergau - auch für die aktionäre :keks:
      Avatar
      schrieb am 12.06.10 15:39:38
      Beitrag Nr. 273 ()
      Sorry, bin hier nicht so Uptodate.
      Hat die ALLIED IRISH BANK eine KE gemacht oder wollen die eine machen. Wenn ja,wann und zu welchem Bezugspreis?

      Vielen Dank
      Avatar
      schrieb am 13.06.10 10:18:55
      Beitrag Nr. 274 ()
      Antwort auf Beitrag Nr.: 39.673.599 von ooy am 12.06.10 15:39:38So viel mir bekannt ist , steht noch kein genauer Termin für Bezugspreis fest. Orientieren wir uns an der Bank of Irland lag dieser bei ca. O,50 EUR/ 3/ die Kapitalstruktur ist hier aber richtig angespannte und nicht zu vergleichen mit der Bank of Irland und meine persönliche Einschätzung ist, dass wir einen Marktpreis bei =0,30-0,40 EUR / 3 liegen dürften.

      Also wer derzeit noch einsteigt oder nachkauft könnte dies wohl bald billiger tun, das ist ein Abschlag von fast 50%% zum derzeitigen Kurs.
      Ob ALLIED mit Kapitalerhöhung /und Unternehmensteile Verkauf die Kurve ohne eine komplette Verstaatlichung bekommt ist ebenfalls sehr fraglich.

      Alles meine Persönliche Einschätzung . Keine Kauf oder Verkaufs Empfehlung.
      Avatar
      schrieb am 13.06.10 11:40:03
      Beitrag Nr. 275 ()
      Hallo,
      UND Ich sage - Einsammeln und nicht den Kopf wegen möglicher Kapitalerhöhung zerbrechen!!!
      Hier sind meiner Ansicht nach "langfristig" satte Renditen möglich!

      Allen wünsche ich einen schönen Sonntag

      -------------------------------
      Allied Irish Banks P.L.C. (AIB): Down 39% Since Jean-Marie Eveillard Bought In the Quarter Ended on 2010-03-31
      Jean-Marie Eveillard initiated holdings in Food Products company Allied Irish Banks P.L.C. during the quarter ended 03/31/2010. He owned 77,000 shares of as of 03/31/2010. Allied Irish Banks plc provides a full range of banking services through over 319 offices in Ireland, 82 branches in Northern Ireland and 37 offices in the UK. Allied Irish Banks P.l.c. has a market cap of $1.04 billion; its shares were traded at around $2.27 with and P/S ratio of 0.1. Allied Irish Banks P.l.c. had an annual average earning growth of 20.7% over the past 10 years.

      Jean-Marie Eveillard bought 77,000 shares in the quarter that ended on 03/31/2010, which is less than 0.01% of the $12.96 billion portfolio of First Eagle Investment Management, LLC. Brian Rogers owns 1,970,842 shares as of 03/31/2010, a decrease of 58.82% of from the previous quarter. This position accounts for 0.02% of the $17.46 billion portfolio of T Rowe Price Equity Income Fund.
      Avatar
      schrieb am 14.06.10 10:18:36
      Beitrag Nr. 276 ()
      Antwort auf Beitrag Nr.: 39.674.450 von Biotechspezialx am 13.06.10 10:18:55Danke, bin raus zu 0,915...
      Avatar
      schrieb am 14.06.10 14:26:58
      Beitrag Nr. 277 ()
      * PKO very interested in BZ WBK - source

      * Government working on alternative to PKO BP - source

      * PM adviser says sector ownership should be more balanced


      By Patryk Wasilewski and Agnieszka Barteczko

      WARSAW, June 14 (Reuters) - Poland will push for a domestic group to buy Bank Zachodni WBK (BZWB.WA) from troubled Allied Irish Banks (ALBK.I) to reduce the heavy foreign involvement in the sector, a government source told Reuters on Monday.

      Some officials are concerned that in the event of another financial crisis, foreign owners may withdraw funds from their Polish units or could bring lending to a halt.

      Several European players including BNP Paribas (BNPP.PA) and Santander (SAN.MC) are expected to bid for Allied Irish's 70 percent stake in BZ WBK, which it put up for sale under pressure from the Irish government to improve its capital position.

      "The Polish government and regulator are determined to have Polish institutions buy BZ WBK," said a government official who asked not to be named. "For now, various scenerios are being analysed."

      The source said state-controlled lender PKO BP PKOB.WA is very interested in the stake, but the government is looking at assembling an alternative bid that may include institutions from outside the banking sector.

      Another deep-pocketed player named as a possible local bidder is Eastern Europe's top insurer PZU PZU.WA, although its chief executive has insisted he was not interested in creating a bancassurance group. Poland's financial regulator has said he would not let a foreign bank which got government aid buy BZ WBK, one of the country's best performing lenders with a market capitalisation of $4.3 billion.

      Citing unnamed sources, Polish papers have reported that PKO BP, Poland's top bank, would lead any state-sponsored group to bid for BZ WBK, possibly alongside other financial investors.

      A spokesman for the treasury ministry, which oversees state assets, was not immediately available for comment. A spokeswoman for PKO BP reiterated the bank is "observing the situation".

      Some 70 percent of Poland's banking assets are owned by foreigners such as Italy's UniCredit (CRDI.MI), Germany's Commerzbank (CBKG.DE) and U.S.-based Citigroup (C.N).

      Jan Krzysztof Bielecki, a top adviser to Prime Minister Donald Tusk and the former head of UniCredit's unit Pekao, told a local daily the ownership of the Polish financial sector should be more balanced.

      BZ WBK shares edged up 1.2 percent in morning trade, in line with the market. The stock has gained 2 percent this year, on par with the Polish banking index .BNKI, after surging 71 percent in 2009. (Writing by Chris Borowski; Editing by Michael Shields)

      http://www.reuters.com/article/idUKLDE65D0FG20100614?type=co…

      Hm, was geschieht jetzt mit der Aktie?
      Steigt es, oder doch nicht ????????
      Avatar
      schrieb am 14.06.10 14:39:29
      Beitrag Nr. 278 ()
      Ich denke, bis freitag sollte der aktienkurs steigen!!!
      Avatar
      schrieb am 16.06.10 09:19:38
      Beitrag Nr. 279 ()
      >Die Russen wollen anscheinend wieder Fuß fassen in Poland. Diesmal über Finanzwesen<


      Wednesday June 16 2010

      RUSSIA'S largest lender, state-owned Sberbank, has emerged among a raft of other potential bidders for Allied Irish Banks' Polish unit Bank Zachodni WBK.

      At least two private-equity firms are also reported to be among parties circling the Warsaw-listed bank ahead of the deadline for first-round bids later this month.

      Shares in AIB jumped 3.2pc to 97c yesterday on mounting hopes that a number of parties currently running the rule over information memorandums in Zachodni will go on to submit offers.

      Davy analyst Stephen Lyons said he believed Zachodni was likely to attract a premium to its current price. "Based on a 20pc premium, a disposal could generate €2.5bn," he said.

      AIB must raise a total of €7.4bn by the end of the year to reach new regulatory capital targets.

      However, market sources cautioned that the field of potential suitors was likely to narrow down over the coming weeks.

      There were signs yesterday that some prospective bidders were looking to weaken price tension surrounding Zachodni heading into the deadline, with Societe Generale chairman and chief executive Frederic Oudea saying yesterday the price of the bank seemed "too high".

      Societe Generale and fellow French banking giant BNP Paribas are known to be among banks considering a bid for AIB's 70.2pc stake in the Polish bank.

      Polish law requires an investor that buys more than 66pc of a publicly traded company to bid for the rest of the shares. Recent days have also seen Italy's Intesa SanPaolo confirm its interest in Zachodni, while the head of Poland's second-largest lender, Bank Pekao, part of Italy's Unicredit, has also said he could not rule out submitting an offer.

      The Polish government is also trying to assemble a group of state-owned businesses to launch a bid for Zachodni.

      - Joe Brennan

      Irish Independent
      Avatar
      schrieb am 17.06.10 10:27:26
      Beitrag Nr. 280 ()
      M&T resignation sparks AIB share surge

      Shares in Allied Irish Banks jumped yesterday as the resignation of group managing director Colm Doherty (right) from the board of M&T heightened speculation it is close to disposing its 22.5pc stake in the US regional lender.

      However, sources close to AIB said Mr Doherty's term as an M&T director had come to an end and he had chosen to step down as a result of its decision in March to sell off the stake.

      The move came as market chatter in Madrid suggested that Spanish banking giant Santander's talks about merging its US subsidiary, Sovereign Bancorp, with M&T had resurfaced.

      Negotiations between both sides reportedly reached an advanced stage last month before collapsing over disagreements about control of a combined entity. A deal would have provided AIB with a possible exit for its M&T holding.

      AIB rose 3pc yesterday to €1, while M&T's stock was trading 3.5pc higher in New York by the time of the Dublin close. Analysts estimate that a sale of the M&T stake could release in excess of €1bn of capital for AIB as it races to raise €7.4bn to reach new regulatory targets by the year-end.

      The planned sale of AIB's Polish unit Bank Zachodni WBK is the key element of the plan, and is expected to raise a further €2.5bn.

      Poland's treasury minister Alexsander Grad clearly signalled his preference for a domestic player to win the auction for Zachodni. First round bids are due at the end of this month. "The acquisition by Polish capital would be greatly appreciated," said Mr Grad.

      Polish state-controlled PKO Bank and Bank Pekao, a unit of Italy's Unicredit, have already signalled their interest in the sale process. Polish media reports suggest PKO may bid for Zachodni on its own or as part of a broader consortium of government-controlled financial institutions.

      Mr Grad said: "I'd be surprised if a bank as large as PKO wouldn't monitor the process."

      - Joe Brennan

      Irish Independent
      Avatar
      schrieb am 17.06.10 17:17:03
      Beitrag Nr. 281 ()
      Für Allied Irish Banks und Bank of Ireland sind wohl höhere Kursziele fällig.

      >Morgen ist dreifachen Hexensabbat<..:)
      Avatar
      schrieb am 17.06.10 17:34:52
      Beitrag Nr. 282 ()
      hui, in us wurde gerade ein richtig großer brocken gekauft. ~700k (2,5$-->2,59$)
      Avatar
      schrieb am 17.06.10 19:08:00
      Beitrag Nr. 283 ()
      Antwort auf Beitrag Nr.: 39.699.926 von Snake3000 am 17.06.10 17:34:52Das ist nur der Anfang......
      Avatar
      schrieb am 17.06.10 22:02:27
      Beitrag Nr. 284 ()
      Antwort auf Beitrag Nr.: 39.700.558 von sstuce am 17.06.10 19:08:00könnte sein! die amerikanische beteiligung mtb befindet sich fast auf jahreshoch und steigt heute um fast 10%.

      gute vorzeichen!
      Avatar
      schrieb am 18.06.10 09:57:28
      Beitrag Nr. 285 ()
      Hab gestern 10 Tsd Stücke gekauft!!!
      Avatar
      schrieb am 18.06.10 10:18:18
      Beitrag Nr. 286 ()
      Antwort auf Beitrag Nr.: 39.703.118 von sstuce am 18.06.10 09:57:28Gratulation und Willkommen im grünen Gurkenverein!:cool:
      Avatar
      schrieb am 18.06.10 11:07:39
      Beitrag Nr. 287 ()
      Sale of AIB's overseas assets to weaken bank -- ratings firm

      AIB's strength as a franchise will be "weakened" by plans to sell its overseas businesses and the bank will find it very challenging to raise the €7.4bn of fresh capital it needs, according to the chief ratings agency in Canada, DBRS.

      The Toronto-based agency said the Polish, UK and US interests of the bank provided 29pc of underlying earnings for the bank and selling these assets would diminish the AIB franchise. "DBRS sees AIB's overall franchise strength as weakened, on a going forward basis, owed to planned business disposals," said the agency in a new report.

      Profits

      The report recognises the key strength of the bank's Irish operations and says that it has produced reasonable pre-provision Irish profits, despite the downturn.

      "Although domestically AIB's franchise remains intact, the future of its non-Irish franchise is at risk," states the agency.

      "While DBRS recognises the capital benefits and potential gains to be realised through the disposal of these businesses, DBRS views these actions as diminishing the overall strength of the franchise, given the revenue diversification gained through these operations."

      The agency recognises the benefits of NAMA removing distressed loans from the bank's balance sheet, but warns that the non-NAMA loans carry an "elevated credit risk".

      "Managing the impact of credit costs on the non-NAMA portfolio remains a key challenge for the near term," said the agency. But the key difficulty is that "ongoing" profits will be hit by the sale of the overseas units.

      The bank is undertaking the largest ever capital raising attempt by an Irish bank or Irish company and DBRS reflects upon this difficulty in the note.

      Capital

      "DBRS believes that AIB may be challenged to raise such capital at competitive terms in the private market.

      "As such, the group may need to rely on the Irish Government to provide some form of backstop, which may result in increased government ownership," said the agency.

      Liquidity at the bank on the other hand remains strong. "AIB's strong deposit franchise provides 51pc of overall funding. Moreover DBRS sees NAMA as improving liquidity as the bonds received in consideration are central bank pledgeable,'' it added.

      The agency acknowledges that funding has become more diverse at AIB and reliance on short-term wholesale funding has been slashed.

      "Further strengthening of wholesale funding and additional diversification from government guaranteed issuance would be viewed favourably by DBRS,'' said the agency.

      - Emmet Oliver Deputy Business Editor

      Irish Independent
      Avatar
      schrieb am 18.06.10 12:18:14
      Beitrag Nr. 288 ()
      Antwort auf Beitrag Nr.: 39.676.463 von ooy am 14.06.10 10:18:36gutes timing...... :rolleyes:

      ich sehe keinen grund zu verkaufen. im gegenteil.
      warum hast du verkauft? es gibt keine nachricht, die schlimmes vermuten lässt im gegenteil.

      und die kapitalerhöhung ist schon eingepreist. die nachricht ist alt und durch.
      Avatar
      schrieb am 18.06.10 12:25:06
      Beitrag Nr. 289 ()
      Ich werde heute verkaufen/Gewinne mitnehmen macht sinn!!!
      Avatar
      schrieb am 18.06.10 15:50:43
      Beitrag Nr. 290 ()
      Antwort auf Beitrag Nr.: 39.704.256 von sstuce am 18.06.10 12:25:06genau, bei 10% gewinn verkaufen und verluste zu 100% aussitzen....

      :laugh:
      Avatar
      schrieb am 18.06.10 16:22:38
      Beitrag Nr. 291 ()
      ne geht doch :cool:

      haben soeben die 38 tage linie wieder zurück gewonnen.


      schöner ausbruch bei hohem volumen :p
      Avatar
      schrieb am 18.06.10 17:12:32
      Beitrag Nr. 292 ()
      Antwort auf Beitrag Nr.: 39.705.438 von gertrude am 18.06.10 15:50:43Der Spruch war klasse, ist aber auch wahr. Laß sie doch jeder wie es ihm spaß macht oder so
      Avatar
      schrieb am 18.06.10 17:15:28
      Beitrag Nr. 293 ()
      May be packen wir die 3$ Heute.
      Schön wäre es
      Avatar
      schrieb am 22.06.10 07:51:27
      Beitrag Nr. 294 ()
      AIB faces valuation uncertainty as it prepares to offload foreign assets



      By Joe Brennan

      Tuesday June 22 2010

      Allied Irish Banks is on track to dispose of key foreign assets but faces "uncertainty" as to whether they will achieve expected valuations, as financial market upheavals continue, according to a top regulatory official.

      Jonathan McMahon, assistant director general of financial supervision, said the Financial Regulator was "very involved" in AIB's disposal programme as it races to hit an end-of-year deadline to raise capital.

      AIB has been directed to raise €7.4bn to reach an equity core tier one ratio -- a key measure of a lender's stability -- of 7pc by the end of the year. The regulator has applied a 45pc discount to all of AIB's NAMA-bound loans in coming up with the target.

      The bank has already signalled the sale of its Polish division, Bank Zachodni WBK, as well as its 22.5pc stake in US regional lender M&T and AIB's UK unit.

      The bank has also attracted an approach from Kerry-based financial services company Fexco for its Goodbody Stockbrokers business -- though a deal here is unlikely to add to AIB's capital base.

      Mr McMahon said "engagement is close" with AIB on its sell-off programme. But while the bank "is on track to meet its disposal targets", its ability to realise valuations "will be affected" if uncertainty continues.

      He said, on balance, that "some businesses are worth more than they thought and some are worth less".

      Two months ago, analysts were pencilling in gains of as high as €5.5bn from the sale of the three foreign businesses.

      Speculation

      Davy, for example, has since pulled its forecasts back to €4.6bn -- which would mean AIB would have to go cap-in-hand to the State and shareholders for €2.8bn. The lower the proceeds, the higher the stake the State is likely to end up with in the bank.

      AIB had to hand over an 18.6pc holding to the National Pensions Reserve Fund last month as it was forced by an EU demand to pay a dividend in shares instead of cash.

      Still, AIB's stock has jumped by almost a fifth in the last five trading sessions, amid bid speculation surrounding its M&T and Bank Zachodni stakes.

      M&T soared again in New York trade yesterday -- reaching a 21-month high of almost $95 (€77) -- as investors reacted to another report on attempts by Spain's Santander to merge its US business with M&T.

      A potential deal between both sides is seen as a way for AIB to sell its 22.5pc stake.

      Santander and M&T disagree on who would control the combined firm. Their discussions on the deal broke down in May, with the Spanish bank seeking a deal that would allow it to control the combined bank.

      - Joe Brennan

      Irish Independent
      Avatar
      schrieb am 24.06.10 18:26:21
      Beitrag Nr. 295 ()
      so,hab heute mal boi gekauft.....nun sind sie unterbewertet!
      Avatar
      schrieb am 28.06.10 12:38:27
      Beitrag Nr. 296 ()
      Allied Irish shares up, capital plan seen advancing

      DUBLIN, June 28 (Reuters) - Shares in Allied Irish Banks rose on Monday after reports that its fundraising was making headway, with a back-up plan to offload its stake in M&T Bank Corp and the sale of its Polish unit on track.

      Allied Irish's shares were up 4.9 percent at 1.017 euros by 0905 GMT, outperforming a 1 percent higher Stoxx Europe 600 banking sector index.

      'Things are progressing along for Allied Irish in relation to raising capital,' one Dublin-based trader said.

      The Sunday Times newspaper said Allied Irish was planning an institutional placing of its 22.5 percent stake in M&T if merger talks between M&T and Spain's Banco Santander cannot be revived. A spokesman for Allied Irish declined to comment.

      Santander has confirmed it has held talks on merging its U.S. operations with M&T and a separate media report last week said Santander was trying to revive those talks after initial discussions fell apart over the issue of control.

      The Sunday Times, quoting unnamed sources, said Allied Irish was preparing a placing of its 22.5 percent stake in M&T at a 'single-digit' discount to the prevailing market price, with no single buyer allowed to take more than 2 percent of the shares on offer, should there be no deal with Santander.

      'With shares in M&T closing last week at $88.37, a small discount to this price would come close to our base case of $85, raising 1.15 billion euros in capital,' Goodbody analyst Ken Darmody said in a note.

      Allied Irish needs to raise 7.4 billion euros this year to meet new regulatory capital requirements and plug the hole after loan sales to Ireland's 'bad bank' scheme.

      Besides the M&T stake, it wants to sell its majority holding in Polish Bank Zachodni WBK and its British businesses.

      Non-binding bids for Zachodni were due by Monday, according to an industry source. Last week, Polish Treasury Minister Alexander Grad threw his weight behind PKO BP's likely bid for Allied Irish's 70 percent stake in Zachodni, which is worth about $3 billion.

      PKO is expected to face off against several large European banks, including UniCredit, Santander, BNP Paribas and Russia's Sberbank.

      The industry source had said binding offers would be required in September. Brokers in Dublin cited reports that a shortlist of bidders could be drawn up by mid-July, which was also supporting Allied Irish's shares.

      (Reporting by Andras Gergely, editing by Will Waterman) Keywords: ALLIEDIRISHBANKS/

      (andras.gergely@reuters.com; +35315001529; Reuters Messaging: andras.gergely.reuters.com@reuters.net)


      COPYRIGHT
      Avatar
      schrieb am 02.07.10 13:35:36
      Beitrag Nr. 297 ()
      Seven bid for AIB's Polish bank stake

      AT LEAST seven companies have placed bids to buy the Allied Irish Banks (AIB) stake in the bank’s Polish unit, Bank Zachodni WBK, the country’s fourth-largest bank.

      The interested parties include Poland’s two largest lenders – state-controlled PKO Bank Polski and Bank Pekao, which is part of the Italian banking group, Unicredit.

      Other parties to have submitted indicative offers by Monday’s deadline were Russian bank Sberabnk, Intesa Sanpaolo in Italian, French bank BNP Paribas and the US private equity group Apax Partners, according to news reports, citing sources familiar with the process.

      The two Polish banks have publicly previously expressed interest in tabling bids for BZ WBK, which AIB is selling to help raise €7.4 billion in capital demanded by the Financial Regulator to absorb mounting loan losses at the bank.

      AIB managing director Colm Doherty has previously described the bank’s profitable Polish subsidiary as the banking group’s “jewel in the crown”, which is among a number of businesses up for sale to generate additional capital.

      The Polish government, a 41 per cent shareholder in PKO, is interested in BZ WBK to reduce foreign ownership of Poland’s banking sector, and has encouraged PKO to submit an offer for the bank.

      Morgan Stanley and AIB Corporate Finance are managing the sale of the business, which is expected to be agreed by September or October after formal bids are offered later this summer.

      Among the other assets being sold by the bank is its 22.5 per cent stake in US bank MT and the bank’s UK business as well as Goodbody Stockbrokers, which is close to being bought by Kerry-based financial services group, Fexco.

      If AIB cannot raise sufficient capital from asset disposals and tapping shareholder through a rights issue, the Government is likely to take a majority stake. – (Additional reporting by Dow Jones)
      Avatar
      schrieb am 06.07.10 08:12:53
      Beitrag Nr. 298 ()
      John Fleming is pursued for €26m in guarantees by AIB



      By Tim Healy

      Tuesday July 06 2010

      WELL-KNOWN Cork developer John Fleming is being pursued by Allied Irish Bank for €26m over his guarantees of loans to Fleming Energy in order to buy a majority shareholding in a US energy company.

      Mr Justice Peter Kelly yesterday transferred AIB's case against Mr Fleming to the Commercial Court.

      Fleming Energy is a subsidiary of the JJ Fleming group of companies, three of which went into liquidation last March with debts of more than €1bn, following the ending of High Court protection.

      AIB'S case against Mr Fleming will be back before Mr Justice Kelly on Friday, when his lawyers are expected to outline the basis of any defence that may be advanced.

      Bill Shipsey SC, for AIB, said the bank did not believe Mr Fleming had any defence.

      However, Sarah McKechnie BL, for the defendant, said she required a little time to take instructions.

      The claim arises from a guarantee allegedly executed by Mr Fleming on May 20, 2008 of all liabilities of Fleming Energy to AIB to a maximum of €26m.

      Fleming Energy has registered offices at New Cork Road, Bandon, Co Cork.

      Mr Fleming is now said to be living at Holbrook Close, Billericay, Essex in England.

      Loans

      AIB claims that the guarantee was part of the security provided for credit facilities advanced by it to Fleming Energy, part of a group of companies controlled and operated by Mr Fleming.

      It is also claimed that the main loan provided to Fleming Energy was for $32.4m (€26m), advanced in June 2007 to assist with the purchase of a 51pc stake in Plymouth Energy LLC, a company registered in the US and which was established to purchase and develop a 57-acre site in Iowa.

      AIB claims that while Fleming Energy had paid off sums due under two letters of credit, the primary loan facility was undischarged and some $32.8m (€26.2m) was due and owing by Fleming Energy.

      It is also alleged that the company owes an additional €1.26m in relation to a current account.

      AIB said it had agreed not to demand repayment of the loans while companies in the Fleming group were under court protection but that protection ended last March and demands were issued for repayment.

      The bank also issued a demand under Mr Fleming's guarantee and some €25.9m was now due, it claimed.

      - Tim Healy

      Irish Independent
      Avatar
      schrieb am 07.07.10 17:15:35
      Beitrag Nr. 299 ()
      AIB may sell tranche of Zachodni to boost interest

      AIB may sell off a small tranche of its Bank Zachodni shares on the open market to make the remaining stake more attractive to would-be buyers, according to investment bank UBS.

      AIB's 70.4pc of Poland's Bank Zachodni was put on the market earlier in the year as the Irish bank offloaded non-core assets in a bid to improve its capital position by €7.4bn by the end of 2010.

      Between seven and eight bids are believed to have been received by the closing date on June 28, but in a research note issued earlier in the week, UBS suggested AIB might sweeten the deal to "facilitate" a sale.

      Troublesome

      Under Polish law, any shareholder who owns more than 66pc of a publicly listed company must make a bid for the remaining shares. "We cannot exclude that AIB might reduce its stake to less than 66pc to facilitate the purchase for a potential buyer," said UBS's global equity research team.

      They add that a "mandatory bid for all the remaining shares" would be "troublesome" for any buyer since a tepid response from Bank Zachodni's remaining shareholders could ultimately force the buyer to reduce its stake to 75pc, "likely at a depressed market price".

      UBS also suggest a secondary market placement as an alternative way to offload AIB's Bank Zachodni stake, but deem this option "unlikely" given the difficulty of posting such a large amount of stock in the "current market conditions".

      Analysts believe AIB could reap a capital benefit of around €2.4bn from the Polish sale.

      - Laura Noonan

      Irish Independent



      -------------------------------------------------------------------------------------


      Polish bank plan aimed at AIB buy?

      PKO, one of the potential bidders for AIB's Polish arm, is planning a 5 billion zloty (€1.18 billion) bond issue. It Is thought this could be used to help finance its bid for AIB's 70% shareholding in BZ WBK, or Bank Zachodni.

      Offers are thought to have been made by foreign lenders including Italy's UniCredit and Intesa SanPaolo, Spanish bank Santander and France's BNP Paribas by last week's deadline.

      Poland wants to reduce foreign ownership of its banks, so a domestic offer is likely to be the preferred option.

      As part of AIB's €7.4 billion capital raising plan it has to sell its foreign assets.

      Previously it was reported that AIB could be planning an institutional placing of its 22.5% stake in US bank M&T if merger talks between M&T and Banco Santander cannot be revived.
      http://www.rte.ie/business/2010/0707/aib.html
      Avatar
      schrieb am 09.07.10 10:22:55
      Beitrag Nr. 300 ()
      AIB 'will shrink' but staff must wait for cuts details


      AIB boss Colm Doherty yesterday moved to assuage staff fears of imminent job cuts, insisting "categorically" that no final decisions had been made.

      In a group-wide email, Mr Doherty also told staff the bank is "making progress" with its asset disposal programme and is "on target" to fully implement a €7.4bn recapitalisation plan by the end of the year.

      The latest installment in Mr Doherty's "100-day" staff updates came just days after reports that his bank was drawing up plans to announce 1,000 layoffs at its annual results briefings on August 9.

      The bank boss yesterday admitted that AIB will be a "smaller organisation" in the future, a change that will have "ramifications at all levels in relation to both staff and structure".

      "I can tell you categorically that despite the widespread speculation you may have read or heard, no final decisions have yet been made as to what actions will need to be taken," he added.

      AIB had more than 24,000 staff globally at the end of 2009 -- the sale of the bank's operations in Poland, the UK and the US will shave thousands off that number, but job cuts locally are also expected.

      "Speculation will always be rife in situations like this," Mr Doherty said.

      "So, while I know it is difficult, I would ask you to try not to be distracted by it."

      First bids

      First bids for AIB's 70pc stake in Poland's Bank Zachodni were received at the end of June, while the bank is also in negotiations to sell off First Trust and AIB GB in the UK as well as its 22pc stake in US bank M&T.

      Market sources have expressed frustration on the lack of newsflow around the disposals as AIB claims that confidentiality and stock market rules have prohibited the bank from talking until the deals are complete.

      "This interim period between the announcement [of the sales] and the completion of the plan is the most difficult stage at which to communicate because of the many constraints imposed," Mr Doherty said.

      "I can't go into detail [but] I can assure you that we are making progress in relation to our asset sales which are the first part of our recapitalisation plan."

      The plan demands AIB improves its capital position by €7.4bn through a combination of asset sales and capital raising activity.

      "We are on target to implement all parts of the plan before the end of the year," Mr Doherty said.

      - Laura Noonan

      Irish Independent
      Avatar
      schrieb am 14.07.10 07:27:50
      Beitrag Nr. 301 ()
      The Irish Times - Wednesday, July 14, 2010

      AIB unveils range of plans to boost investment in sector

      CIARÁN HANCOCK, Business Affairs Correspondent

      RESOURCES COMMITMENT: AIB YESTERDAY sought to stress how small and medium-sized enterprises (SMEs) were at the “core” of its business.

      The bank said it serves 180,000 SMEs across the State, and it now plans to “mobilise” its resources to deliver on its commitment to the Government to release €6 billion in funding to the sector by the end of 2011.

      This began on May 25th with the launch of a €500 million small business recovery scheme.

      AIB said it now plans to seek an additional tranche of funding from the European Investment Bank to continue to support investment in SMEs.

      It plans to promote asset finance funds to assist in the purchase of plant and machinery, and a PromptPay Fund for short-term working capital for SMEs and professional services firms.

      The bank said yesterday that it would also amend the terms of its invoice discounting to broaden its availability, and that it plans to launch an additional €100 million fund for SME environmental, clean energy and innovation projects.

      In addition, AIB will develop a new package for exporters, and has committed to launching an additional €20 million seed capital fund.

      It has already made €53 million available in conjunction with Enterprise Ireland.

      An SME helpline is to be launched, and the bank said it plans to run a series of customer roadshows across the country. There will also be a “customer engagement programme” by its senior executives.

      The bank has agreed to provide a monthly report to the department of finance and the credit review office on its efforts.

      AIB approved 52,000 credit applications by SMEs in 2009, totalling €2.5 billion in value. Nine out of 10 “formal” applications were given the green light.

      “Demand for SME credit among AIB customers remains weak, with demand falling in quarter one 2010 compared to the corresponding period of 2009,” AIB said.

      Credit quality also deteriorated last year, with increases in criticised and impaired SME loans.
      Avatar
      schrieb am 19.07.10 08:58:38
      Beitrag Nr. 302 ()
      AIB/BOI: Senior Finance mandarins mooted merger of big two



      By Maeve Dineen

      Saturday July 17 2010

      A MERGER of the country's two biggest banks was one of the options mooted at the height of the banking crisis.

      The unlikely marriage of Allied Irish Banks (AIB) and Bank of Ireland (BoI) was one of the options being considered by senior Department of Finance officials. Overall, the documents released yesterday offer little insight into the situation at AIB and BoI in the days leading up to the State bailout.

      However, Merrill Lynch, the investment bank hired to advise the Government on the banking crisis, said that while its focus was predominantly on Anglo Irish and Irish Nationwide, "every action should be assessed with respect to impact on the share price of AIB and BOI".

      The share price of both banks was highly volatile at the time.

      And the value of both banks' shares had dropped one third by the time the guarantee was introduced on September 29.

      THE SITUATION NOW

      * Bank of Ireland:

      The bank received a €3.5bn cash injection from the State.

      It has just received the green light for its restructuring plan from the EU which will involve the sale of its asset management arm; its mortgage brokering business, the New Ireland Assurance Company; and the ICS Building Society as well as cutting down in its UK corporate banking division.

      * AIB:

      Also received a €3.5bn cash injection from the State last year, but AIB still has huge hurdles to get over.

      It needs to raise €7.4bn by the end of the year to meet regulator targets.

      The bank is currently trying to sell its stakes in the US bank M&T and its Polish operation. And it is assumed it will also embark in a rights issue similar to Bank of Ireland. Brian Cowen admits that the AIB may need some help and will provide more money to the bank if needed.

      - Maeve Dineen

      Irish Independent
      Avatar
      schrieb am 25.07.10 15:10:29
      Beitrag Nr. 303 ()
      Bank hat den Stress-Test bestanden. Plus 10%.

      Mal sehen, was geht, wenn ein guter Preis für den Zachodnie-Anteil erzielt wird.
      Avatar
      schrieb am 26.07.10 22:05:10
      Beitrag Nr. 304 ()
      USA hat nochmal saftig einen draufgetan...
      Avatar
      schrieb am 28.07.10 10:58:49
      Beitrag Nr. 305 ()
      bei aib braucht man langen atem. aber eines ist sicher, irgendwann und damit meine ich innerhalb von 12 monaten, wird die diskussion um die banken abnehmen und die kurse werden wieder steigen.
      Avatar
      schrieb am 28.07.10 11:22:06
      Beitrag Nr. 306 ()
      Antwort auf Beitrag Nr.: 39.888.270 von herwoe am 28.07.10 10:58:49Kommt da nicht noch ne KE??
      Avatar
      schrieb am 28.07.10 14:30:56
      Beitrag Nr. 307 ()
      Antwort auf Beitrag Nr.: 39.888.451 von ooy am 28.07.10 11:22:06bei den kursen bestimmt nicht, da gibt es andere möglichkeiten einer refinanzierung von banken.
      Avatar
      schrieb am 28.07.10 16:45:51
      Beitrag Nr. 308 ()
      Antwort auf Beitrag Nr.: 39.889.785 von herwoe am 28.07.10 14:30:56Ist aber wohl schon beschlossen, und dass zu wesentlich niedrigeren Kursen.
      Hat jemand mal vor ca. einem Monat hier gepostet, vielleicht kann das irgendjemand bestaetigen?
      Avatar
      schrieb am 01.08.10 09:24:34
      Beitrag Nr. 309 ()
      Investor Confidence in Allied Irish Banks, Bank of Ireland Improved
      By HUGH COLLINS Posted 8:18 AM 07/30/10

      The recent European stress tests show that investor confidence towards Irish banks Allied Irish Banks (AIB) and Bank of Ireland (BKIR) has improved, Fitch said.

      In its semi-annual review of Irish banks, the rating agency said that this improved investor confidence may strengthen the banks' ability to raise funds, The Irish Times reported.

      Funding is "the most important challenge facing Irish banks," Fitch said.

      Fitch said Bank of Ireland may return to a normal performance much faster than rivals Allied Irish Banks and Anglo Irish Banks, thanks to a shorter restructuring period.

      http://www.dailyfinance.com/story/credit/allied-irish-banks-…
      Avatar
      schrieb am 02.08.10 07:15:20
      Beitrag Nr. 310 ()
      The Irish Times - Monday, August 2, 2010
      AIB to unveil extent of pretax losses


      AIB’s PRETAX losses could be as high as €3 billion when the bank releases its interim results this week – a key week for the European banking sector as a range of banks provide updates on impairment charges, capital strength and cost reduction programmes.

      The extent of the decline in the bank’s pre-provision operating profits and its update on impairments to development loans that have not been transferred to the National Asset Management Agency (Nama) are set to be under the spotlight on Wednesday.

      Analysts will also be waiting to see if managing director Colm Doherty gives any indication on future job cuts at the bank and if any progress has been made in the sale of Bank Zachodni WBK in Poland and the bank’s stake in US-bank MT. AIB has so far declined to comment on its efforts to offload the two assets.

      The sale of the assets is a key component of the bank’s commitment to raise €7.4 billion to satisfy capital requirements introduced by the Financial Regulator earlier this year. The process is also expected to include the disposal of AIB’s UK operation, however analysts expect it will be more difficult to find a buyer for this business.

      The pretax losses at AIB – estimated to reach €3 billion, according to a forecast by banking analysts at NCB Stockbrokers – will be the highest in the bank’s history and double the loss recorded in the same period last year.

      The estimate is based on AIB announcing total impairment charges of €4.2 billion, with €1.2 billion of this relating to non-Nama loans, NCB suggests. Non-Nama loans are development loans with an individual value of less than €5 million.

      Davy Research analyst Stephen Lyons expects AIB’s pre-provision operating profits to be about €700 million, down from €1.2 billion in the first half of 2009, while NCB expects a slightly lower decline to €750 million.

      AIB indicated in May that its pre-provision profits and net interest margins were under pressure as a result of factors including competition on deposits, elevated funding costs, reduced income on Nama loans and Nama administration costs.

      The bank reporting season begins in earnest across Europe this week, with earnings updates expected from Spanish banking giant Santander and British bank HSBC tomorrow, from Britain’s Lloyds Banking Group on Wednesday and from Royal Bank of Scotland (RBS) – the owner of Ulster Bank – on Friday.

      The sector will go into its interim reporting phase on a broadly positive note after being given the all-clear from European stress test results.

      Recent trading updates from US banks exhibited a trend for lower bad debts, but higher trading losses as a result of stock market declines.

      http://www.irishtimes.com/newspaper/finance/2010/0802/122427…
      Avatar
      schrieb am 02.08.10 07:16:08
      Beitrag Nr. 311 ()
      AIB's too-big-to-fail trick is wearing a little thin


      Monday August 02 2010

      ALLIED Irish Banks will no doubt take the opportunity to update restless shareholders about the lender's plans to sell off units when it releases first-half results on Wednesday. It is time we got some solid news after months of rumours and speculation.

      The results themselves are unlikely to contain too many surprises; the bank has already given a reasonably clear picture of its finances as part of the stress-test process. We know, for instance, that income before loan losses would be €901m over two years under the Committee of European Banking Supervisors' adverse scenario. That seems to set some kind of floor on the losses the bank could suffer.

      While the headline figures will be interesting, it will be even more interesting to watch for any answers to the great riddle of Irish business life right now: how much are banks lending to companies and individuals.

      Last week, AIB senior executives were summoned to the Department of Finance by three government ministers -- Minister Lenihan, Minister O'Keeffe and Minister Ryan -- to explain how much the bank is lending to small businesses.

      It is worth remembering that Mr Lenihan has ordered the bank to lend €3bn over the next two years. At the year's halfway mark, it should have already lent up to €1bn. We shall soon see if this happening.

      While lending is vital to the economy, I will be looking closely at another measure which is again beginning to terrify the markets: the Irish banks' dependence on wholesale funding.

      The Central Bank and ratings agency Fitch both warned recently that access to the wholesale markets could deteriorate further in the third quarter, which could in turn have a disastrous effect on the banks. So far, we have seen little evidence that the banks are reducing their dependence on this source of borrowing, despite the fact that it was precisely this sort of borrowing that helped dig the hole we now find ourselves in.

      While indicators such as these will tell us whether the banking system has any hope of survival, most attention will probably be focused on the bank's plans to sell off its UK division, Polish unit and a 22.5pc stake in M&T Bank to raise the €7.4bn needed to meet new capital standards.

      To raise more than seven times your market capitalisation is a feat almost no organisation in the history of capitalism has achieved. To succeed would be an almost heroic achievement, which would justify AIB's championing of Colm Doherty as the bank's de facto chief executive. To fail will spell the end of the bank's claim to be an independent organisation and leave the taxpayer with day-to-day responsibility for another complex mess.

      Time is ticking away for the bank, which has just five months left to raise the money under European Commission rules. Despite the bank's repeated promises to save itself by taking decisive action, no result has been reported yet to make good on these promises.

      This is not to underestimate the difficulties faced by Allied Irish; selling anything in the present climate is difficult but it can, and must, be done. Normally this wouldn't matter to anybody beyond the shareholders and the bondholders, but as the State will be left to pick up the pieces if the bank fails to raise the enormous sums needed to shore up its capital reserves, we will all be losers if the bank once again holds the country hostage with the too-big-to-fail trick.

      Irish Independent
      Avatar
      schrieb am 02.08.10 07:24:56
      Beitrag Nr. 312 ()
      Hört sich alles sehr SCHLECHT an !!!

      VORSTEUER-VERLUST, KEINE KLARE STRATEGIE FÜR DIE ZUKUNFT, FINANZIERUNGSLÜCKEN NICHT GESCHLOSSEN, VERKAUF DER TÖCHTER NICHT ABGESCHLOSSEN...U.S.W. !!!

      Sollten es 3 Milliarden-Verlust werden (u.a. NAMA-WERB.), sind Kurse um die 0,75 EURO möglich !!!
      2 Antworten
      Avatar
      schrieb am 03.08.10 12:54:36
      Beitrag Nr. 313 ()
      Credit Suisse hat Heute ein Initiation of coverage herausgegeben

      We initiate coverage on BoI with an Outperform rating (price target
      €1.1), and on AIB with an Outperform rating (price target of €1.3). While
      the wider economy still remains difficult, we believe BoI and AIB offer
      attractive opportunities at current levels.

      Gesamtes Dokument auf Anfrage (BM)

      Avatar
      schrieb am 05.08.10 12:56:35
      Beitrag Nr. 314 ()
      Antwort auf Beitrag Nr.: 39.910.576 von Aktientitan am 02.08.10 07:24:56war zwar schon lange nicht mehr, aber gut zu sehen das sich eines nicht geändert hat
      --> deine Vorraussagen :D:laugh::D immer voll daneben :p
      Avatar
      schrieb am 05.08.10 13:59:05
      Beitrag Nr. 315 ()
      +++Achtung: Ich erwarte hier Kapitalerhöhung sogar Vollverstaatlichung ist möglich: HRE ruft+++ Das gleiche Schicksal erwarte ich daher auch bei COMMERZBANK


      Bank AIB: Rekordverlust und Warnung vor steigenden Hypothekenzinsen in Irland
      By Wayne Copeland | August 5, 2010

      Die Chancen von First Trust, einen interessierten Käufer zu finden scheinen zu schwinden, nachdem die nordirische Bank, die sich in Besitz von Dublins AIB befindet, über substanzielle Verluste während des ersten Halbjahrs berichtete. Auch AIB meldete einen Rekordverlust in Höhe von 2 Milliarden Euro und warnte sowohl Kunden als auch Hausbesitzer in Irland, dass die Banken die Transaktionsgebühren und die Hypothekenzinsen demnächst anheben würden. Dies ist alles andere als ein gutes Omen für die angeschlagenen irischen Häusermärkte.

      Kunden werden die Zeche der Kreditorgie zahlen
      Die angeschlagene Bank First Trust, die über mehr als 40 Filialen in Nordirland verfügt, berichtete heute morgen über einen Nettoverlust in Höhe von £52 Millionen in der Periode von Januar bis Juni. Die Verlusthöhe entspricht £11 Millionen mehr als im selben Zeitraum des vergangenen Jahres. Die Mutterfirma des Unternehmens, die in Dublin ansässige AIB, berichtete ebenfalls über einen eingefahrenen Rekordverlust in Höhe von 2 Milliarden Euro.

      Ein operativer Gewinn von £24 Millionen vor Steuern bei First Trust wurde egalisiert, nachdem die Bank insgesamt £76 Millionen an Rücklagen bilden musste, um faule Kredite abzusichern. Entgegen der Mutter AIB tätigte First Trust bislang keine Kredittransfers an die irische Bad Bank National Asset Management Agency (NAMA).

      Die Kunden der Bank dürften nun sehr wahrscheinlich zum Ausgleich der schweren Verluste der Bank heran gezogen werden, da sie höheren Gebühren entgegen blicken dürften, wie Offizielle des Unternehmens bereits warnten. Colm Doherty, geschäftsführender Direktor bei der Mutter AIB, warnte gestern, dass die irischen Hausbesitzer auch zukünftig weiter großen finanziellen Schmerzen ausgesetzt sein würden, da die Bank, an der die irischen Steuerzahler bereits 18,6% halten, ihre Hypothekenzinsen bald anheben werde. Der Vostand von AIB sei sich einig darüber, dass man widerstrebend der Geschäftspolitik der anderen Banken folgen und die Hypothekenzinsen ebenfalls anheben müsse, um keine Wettbewerbsnachteile in einem äußerst schwierigen Umfeld zu erleiden.
      Avatar
      schrieb am 06.08.10 11:00:43
      Beitrag Nr. 316 ()
      hier kann die stimmung nicht mehr schlechter werden, deshalb; buy on bad news
      Avatar
      schrieb am 09.08.10 21:29:04
      Beitrag Nr. 317 ()
      AIB announces rises in residential mortgage rates
      By Finfacts Team
      Aug 9, 2010 - 3:42:07 PM



      AIB today announced it will increase its residential mortgage rates with effect from close of business, on Tuesday, August 10, 2010. The bank's standard variable rate will rise to 3.25% from 2.75%.

      Bank of Ireland will also raise its standard variable mortgage rate by 45 basis points to 3.49% on Tuesday.

      Michael Quirke, Head of Mortgage Products, AIB Bank said: “Funding availability on wholesale money markets for Irish financial institutions remains difficult. Unfortunately, we have little choice but to introduce this pricing change, which is a measured response to the significant challenges which must be overcome if we are to achieve an economic return on our loan book and thereby return to a sustainable business model. All mortgage lenders are facing the same issues in this funding environment. While the cost of mortgage finance is increasing, AIB continues to offer competitive options for borrowers. AIB is committed to supporting the mortgage market, in particular first time buyers and home movers.”

      The European Mortgage Federation says 85.7% of mortgage borrowers in Ireland have variable-rate mortgages - - either a tracker linked to the benchmark rate of the European Central Bank or a standard variable rate (SVR).

      The recent hikes add at least €160 per month to a 20-year €300,000 loan, depending on the-loan-to-value.

      The new pricing structure is attached and is summarised as follows:

      Owner Occupiers:

      * Loan to Value (LTV) Variable Rates up 0.50%
      * Standard Variable Rate up 0.50%
      * Fixed rates are increasing for new business
      * Existing Tracker Rates will remain unchanged
      * Existing Fixed Rate contracts are unaffected

      Buy to Let

      * Existing Tracker and Standard Variable Rates remain unchanged
      * Existing Fixed Rate contracts are unaffected
      * Fixed rates are increasing for new business

      http://www.finfacts.ie/irishfinancenews/article_1020329.shtm…
      Avatar
      schrieb am 24.08.10 15:58:13
      Beitrag Nr. 318 ()
      Antwort auf Beitrag Nr.: 39.940.348 von herwoe am 06.08.10 11:00:43Allied Irish ist wirklich eine Krüppel-Aktie. :mad:
      Selten sowas gesehen. Bäääääh.
      So, das musste mal raus.
      Avatar
      schrieb am 25.08.10 10:40:02
      Beitrag Nr. 319 ()
      Wo wollen die mit ihrem Kurs denn noch hin????

      Stresstest ist bestanden, nun warten alle auf die Aktion in Polen.

      Macht die Bank denn so schlechte Geschäfte??

      Fast alle anderen Banken in Europa, die den Stresstest bestanden haben machen gute Geschäfte.

      Das stinkt doch zum Himmel hier!!!!!
      1 Antwort
      Avatar
      schrieb am 25.08.10 11:14:02
      Beitrag Nr. 320 ()
      Antwort auf Beitrag Nr.: 40.041.172 von liebling49 am 25.08.10 10:40:02der zeitpunkt für den verkauf der polen-beteiligung ist "sub-optimal", da weltweit mal wieder die Banken-Skepsis grassiert. Zudem steht bei AIB eine massive Verwässerung durch die ausstehende Kapitalerhöhung an. Folglich ist Zurückhaltung angesagt, zumal Dow Jones + Co. charttechnisch überaus angeschlagen wirken...
      Avatar
      schrieb am 27.08.10 12:18:42
      Beitrag Nr. 321 ()
      Antwort auf Beitrag Nr.: 39.910.576 von Aktientitan am 02.08.10 07:24:56Jeder der Zeit hat sollte jetzt sein Depot füllen und dann schlafen gehen
      2 Antworten
      Avatar
      schrieb am 08.09.10 13:36:20
      Beitrag Nr. 322 ()
      Antwort auf Beitrag Nr.: 40.055.274 von Dezi am 27.08.10 12:18:42Angesichts dieser Kurse darf die Frage erlaubt sein:
      Mit oder ohne Überdosis Schlaftabletten? :O
      1 Antwort
      Avatar
      schrieb am 08.09.10 14:41:04
      Beitrag Nr. 323 ()
      Antwort auf Beitrag Nr.: 40.117.764 von eaglez am 08.09.10 13:36:20Leg sie ins Depot, beachte sie weiter nicht, ich sag Dir 2012 bei 4 € Bescheid, bei zwischenzeitlichen Schmerzen frage Deine Arzt oder Apotheker, Schmerzensgeld gibt es später.
      Avatar
      schrieb am 09.09.10 16:36:15
      Beitrag Nr. 324 ()
      Denke auch, dass man in ein paar jahren seine Freude an der Aktie haben wird

      Hier noch ein bericht des Aktionärs zu Anglo udn Allied

      http://www.deraktionaer.de/xist4c/web/Anglo-Irish-vor-dem-Au…
      Avatar
      schrieb am 10.09.10 13:45:31
      Beitrag Nr. 325 ()
      09.09.2010


      Anglo Irish vor dem Aus - was geschieht mit Allied Irish?

      Thorsten Küfner
      Die irische Regierung hat die Aufspaltung der irischen Großbank Anglo Irish beschlossen und plant langfristig die "Stilllegung" von Konzernteilen. Was geschieht nun mit Allied Irish Banks?

      Die stolze Anglo Irish Bank soll aufgespalten werden: In eine Bad Bank und ein Institut ohne Kreditgeschäft, die das Geld von Sparern verwaltet und dem Finanzministerium gehört. Damit reagiert Irlands Regierung auf die besorgniserregende Situation des Geldhauses. Die EU hatte sogar eine komplette Schließung bevorzugt. Nun sollen zunächst zwei getrennte Institute geschaffen werden, wobei die Bad Bank nach den Plänen der Regierung irgendwann verkauft oder geschlossen werden soll. Die Kundeneinlagen werden indes von der Regierung garantiert.

      Fass ohne Boden

      Auch die Anglo Irish Bank hatte im Zuge des Immobilienbooms in Irland ein viel zu großes Rad gedreht und war daran zerbrochen. Im Januar 2009 wurde die Großbank daraufhin verstaatlicht. Diese Aktion belastete allerdings den irischen Staatshaushalt enorm. Als Anglo-Manager jüngst erklärten, die Bank benötige nochmals 25 Milliarden Euro, sah sich Finanzminister Brian Lenihan zum handeln gezwungen.

      Quo vadis Allied Irish?

      Investoren richten ihren Blick nun verstärkt auf den Konkurrenten Allied Irish Banks. Das Institut war ebenfalls im Zuge der Krise tief in die Verlustzone geschlittert. Durch die Einführung einer staatlichen Bad Bank wurde Allied zwar seine Problemkredite los, musste allerdings herbe Abschläge auf die ausgewiesenen Buchwerte verzeichnen, was das Eigenkapital deutlich verringerte. Um bis zum Jahresende die vorgeschriebenen Kapitalanforderungen zu erfüllen, muss die Bank nun ihr Kapital um mehr als sieben Milliarden Euro aufstocken.

      Bank Zachodni heiß begehrt

      Hierfür sollen durch den Verkauf von Vermögenswerten bis zu vier Milliarden Euro eingesammelt werden. Für die 70-prozentige Beteiligung an der profitablen polnischen Bank Zachodni stehen die Käufer bereits Schlange. Neben der polnischen Bank PKO (mit der Unterstützung des Staates) sind auch die Großbanken Banco Santander und BNP Paribas interessiert. Die Experten von Goodbody Stockbrokers rechnen damit, dass der Verkauf Allied knapp zwei Milliarden Euro einbringen wird. Insgesamt dürften Allied zusammen mit den Verkäufen drei weiterer Beteiligungen (etwa die US-Bank M&T) rund 4,4 Milliarden einnehmen könnte. Um die restlichen Milliarden aufzutreiben, muss Allied dann im vierten Quartal eine Kapitalerhöhung - wohl auch mit Unterstützung des Staates - durchführen.

      Heißes Eisen

      Die Aktie der Allied Irish Banks bleibt ein sehr heißes Eisen. Die Verwässerung durch die geplante Kapitalerhöhung sowie zahlreiche Unwägbarkeiten sprechen klar gegen die Aktie. Allerdings erzielt das Institut im operativen Geschäft weiterhin Gewinne (976 Millionen Euro im ersten Halbjahr). Sind die Altlasten endgültig aus der Bilanz beseitigt und die Eigenkapitaldecke wieder vergrößert worden, dürfte Allied auch wieder Nettogewinne erzielen. Der aktuelle Börsenwert von nur 840 Millionen Euro spiegelt das Potenzial der Bank in keinster Weise wider.

      Mutige Anleger können daher mit einer kleinen Position einsteigen oder sollten die Aktie zumindest im Auge behalten. Das Kursziel lautet 1,20 Euro, der Stopp sollte bei 0,59 Euro platziert werden.

      http://www.deraktionaer.de/xist4c/web/Anglo-Irish-vor-dem-Au…
      1 Antwort
      Avatar
      schrieb am 10.09.10 14:40:42
      Beitrag Nr. 326 ()
      Antwort auf Beitrag Nr.: 40.132.250 von Aktientitan am 10.09.10 13:45:31Wuerde klar die Kapitalerhoehung abwarten und dann zuschlagen...
      Avatar
      schrieb am 10.09.10 18:48:18
      Beitrag Nr. 327 ()
      Polish sale nets AIB €3.1 billion
      Friday, 10 September 2010 17:02

      AIB is to sell its 70% stake in Poland's Bank Zachodni WBK for €3.1 billion to Spanish bank Santander.

      AIB is selling off its stake as part of a restructuring plan aimed at raising €7.4 billion to meet targets set down by the Financial Regulator. The bank said €2.5 billion of the proceeds from the sale would go towards meeting that target.

      Bank Zachodni was seen as the jewel in the crown of AIB's non-Irish businesses.
      Advertisement

      Santander, which is the biggest bank in the euro zone by market value, is understood to have beaten off bids from BNP Paribas, Fortis and Polish bank PKO, in which the Polish government holds a 50% share.

      AIB is also in the process of selling its 22% stake in US regional bank M&T, and its bank branches in the UK.

      If its sale of assets fails to raise the €7.4 billion in fresh capital it needs, the State will have to increase its shareholding in the bank.

      AIB managing director Colm Doherty said the deal represented the first step in its recapitalisation plan, adding that other elements were making 'good progress'. The Polish sale must be backed by AIB shareholders, and the bank will have to pay Santander €7.5m if shareholders do not back the deal.


      http://www.rte.ie/business/2010/0910/aib.html
      Avatar
      schrieb am 16.09.10 07:59:01
      Beitrag Nr. 328 ()
      15.09.2010 15:32
      SocGen senkt AIB-Ziel auf 1,4 Euro - 'Buy'

      http://www.finanznachrichten.de/nachrichten-2010-09/17968394…
      Avatar
      schrieb am 16.09.10 07:59:46
      Beitrag Nr. 329 ()
      AIB's sale of Polish assets not enough to secure S&P upgrade

      Thursday September 16 2010

      THE €3.1bn sale of its Polish assets has not been enough to secure AIB a ratings upgrade from agency Standard & Poor's (S&P), which yesterday said the Irish bank "still has much to achieve", writes Laura Noonan.

      The commentary came as the influential ratings agency re-affirmed its "negative" outlook on AIB, suggesting the bank may be downgraded from its core A-/A-2 trading ratings.

      AIB was celebrating a €2.5bn capital boost from the Polish transaction last weekend, edging the bank closer to its target of raising €7.4bn in capital by the end of the year.

      In a detailed note, S&P described the Polish sale as "the first major step of a multi-layer process" to recapitalise and restructure the bank.

      "The outlook is negative, reflecting our opinion that AIB still has much to achieve in its €7.4bn capital raising programme, combined with our opinion that we do not foresee a quick, near-term improvement in AIB's relatively weak standalone credit profile," said S&P analyst Nigel Greenwood.

      The agency said the rating could fall "if we consider that AIB's recapitalisation plans are unlikely to be fully executed in 2010", or if AIB's earnings are weaker than expected.

      The "negative watch" could be removed, S&P said, "if we observe greater clarity on the strategic direction of AIB".

      AIB managing director Colm Doherty said last week that he expected to be able to announce further disposals "in a couple of weeks".

      The sale of AIB's 22pc stake in US bank M&T could generate up to €1.3bn while its UK divisions could generate €1.1bn.

      Irish Independent
      Avatar
      schrieb am 17.09.10 08:40:39
      Beitrag Nr. 330 ()
      After Yesterday's Decline of 4.66%, Allied Irish Banks Offers Investors Better Value (AIB)
      Written on Fri, 09/17/2010 - 2:05am
      By Chip Brian

      Allied Irish Banks (NYSE:AIB) traded in a range yesterday that spanned from a low of $1.84 to a high of $1.92. Yesterday, the shares fell 4.66%, which took the trading range below the 3-day low of $1.93 on volume of 4.8 million shares.
      Shares of Allied Irish Banks are currently trading below their 50-day moving average (MA) of $2.27 and below their 200-day MA of $3.19. Look for these MAs to provide resistance for a short-term rebound in the shares.
      SmarTrend is bearish on shares of Allied Irish Banks and our subscribers were alerted to Sell on August 25, 2010 at $1.99. The stock has fallen 7.3% since the alert was issued.
      SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $1.93 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Foreign Money Center Banks industry.

      http://www.mysmartrend.com/news-briefs/news-watch/after-yest…
      Avatar
      schrieb am 17.09.10 12:03:33
      Beitrag Nr. 331 ()
      was geht ab??
      3 Antworten
      Avatar
      schrieb am 17.09.10 12:23:03
      Beitrag Nr. 332 ()
      Antwort auf Beitrag Nr.: 40.167.712 von jacomo1 am 17.09.10 12:03:33die aib wird heute zusammengeprügelt, denke aber trotzdem es ist eine übertreibung nach unten.
      2 Antworten
      Avatar
      schrieb am 17.09.10 12:33:16
      Beitrag Nr. 333 ()
      Antwort auf Beitrag Nr.: 40.167.869 von herwoe am 17.09.10 12:23:03aber warum? kann keine news finden, angst vor verstaatlichung? platzen des polen-deals? anstehende details der KE?

      PS. hab gerade mal ein bisschen recherchiert und wenn die schätzungen stimmen will AIB rund 2 Mrd. Euro durch eine KE reinholen. Bei einer aktuellen Marktkapitalisierung von rund 690 Millionen und wahrscheinlichem discount für die jungen Aktien könnte sich die aktienanzahl unter Umständen vervierfachen..brrrrrrr
      1 Antwort
      Avatar
      schrieb am 17.09.10 13:30:29
      Beitrag Nr. 334 ()
      Antwort auf Beitrag Nr.: 40.167.949 von jacomo1 am 17.09.10 12:33:16eben, das ist das problem. eine ke wäre im moment nicht unproblematisch, aber was für möglichkeiten gibt es sonst ?
      Avatar
      schrieb am 17.09.10 13:36:57
      Beitrag Nr. 335 ()
      ich meine mich zu erinnern, das es nach dem Polen DEAL doch noch ein Statement
      von der AIB gabe, das sinngemäß lautete..."demnächst gibt es nochmal gute
      Nachrichten..." erinnert sich da noch jemand dran?
      Ich denke auch das der heutige Kurssturz nicht gerechtfertigt ist.
      Avatar
      schrieb am 18.09.10 07:37:31
      Beitrag Nr. 336 ()
      Denke hier hat sich eine ähnliche Ausgangsposition, wie bei der RBS entwickelt !!!

      Vom 0,32 Jahrestief...dann STÜCK f. STÜCK wieder in die Richtung 0,50-0,60 EURO-MARKE !!!

      So wird es auch hier sein...denke ein Abfallen auf unter 0,50 EURO...ist sehr REALISTISCH...LEIDER !


      Wenn es andres kommt auch schön...

      Gruss
      titan
      3 Antworten
      Avatar
      schrieb am 18.09.10 08:43:47
      Beitrag Nr. 337 ()
      Antwort auf Beitrag Nr.: 40.172.422 von Aktientitan am 18.09.10 07:37:31Moin Aktientitan, :)

      es kommt darauf an ob AIB seine beiden anderen Beteiligungen noch gut verkaufen kann und dann mit einer KE
      vor dem Jahresende die erforderlichen Rücklagen von 7,4€ Mrd erreicht,denn dann geht es wieder aufwärts!

      Viele Aktionäre sind jetzt in Panik,deshalb kann keiner sagen wie tief der Kurs noch fällt?

      Ich werde es wie Helmut Kohl machen,ich sitze die Sache aus,wenn es ganz schlimm kommt,
      wird uns ein Angebot gemacht wie bei der HRE und dann bekommen wir noch ein Almosen!
      :eek:

      Gruß
      hauswand :cool:
      2 Antworten
      Avatar
      schrieb am 18.09.10 17:31:47
      Beitrag Nr. 338 ()
      Antwort auf Beitrag Nr.: 40.172.491 von hauswand am 18.09.10 08:43:47:) eigentlich ist der Preis von AIB ja schon im Zusammenhang mit der KE von BoI gefallen ... jeder wusste dann ja, was auf einem, betreffs AiB, zukommt ...

      Die Empfehlungen in diversen Magazinen, zugunsten von AIB, hatten die KE auch beachtet ...

      Wie sagte der (Fußball-) Kaiser immer, "schaun wir mal" ...
      1 Antwort
      Avatar
      schrieb am 18.09.10 19:50:50
      Beitrag Nr. 339 ()
      Antwort auf Beitrag Nr.: 40.173.518 von Onkel-Max am 18.09.10 17:31:47:D So sieht es aus: Wie sagte der (Fußball-) Kaiser immer, "schaun wir mal" ... :look:

      Ja Onkel-Max tun können wir nichts,aber wenn AIB bis Ende 2010 die von der EU vorgeschriebene Rücklage erreichen würde,
      das wäre gut für AIB und natürlich auch für uns! ;)

      Gruß
      hauswand :cool:
      Avatar
      schrieb am 19.09.10 13:48:15
      Beitrag Nr. 340 ()
      hallo zusammen,bin seit einigen monaten bei AIB investiert und es geht nur bergab.bin ständig am verbilligen und es kommt nichts rum.fast alles wird in englisch geschrieben und der übersetzer ist auch unverständlich weil er wörlich und nicht sinngemäß übersetzt.anlysten heben die aktie in den himmel mit kurszielen von ca.1,5€ aber nichts passiert.jetzt habe ich was von kapitalerhöhung gehört,sorry bin relativ neu im aktiengeschäft,was passiert dann?die kurse fallen weil neue oder mehr aktien auf dem markt kommen?
      6 Antworten
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      schrieb am 19.09.10 16:47:35
      Beitrag Nr. 341 ()
      Antwort auf Beitrag Nr.: 40.174.753 von mawasch am 19.09.10 13:48:15„Kapitalerhöhung
      Als Kapitalerhöhung gilt die Erhöhung des Eigenkapitals einer Aktiengesellschaft durch Emission von neuen Aktien. Durch an Altaktionäre ausgegeben Bezugsrechte können diese durch den Kauf neuer, zusätzlicher Aktien ihre prozentuale Beteiligung an der Gesellschaft halten oder druch den Erwerb zusätzlicher Bezugsrechte auch ausbauen. …“ (Quelle: http://boersenlexikon.faz.net/kapitale.htm)

      Warum fällt der Kurs? U. a.:
      - weil der Markt die Finanzlage des Landes Irland als gefährdet sieht. Hier ist allerdings einzuwenden: Es wurden in der EU schon größere Löcher gestopft und Irland ist vergleichbar klein. Ebenso: Die EU hat Absicherungsgelder für gefährdete Mitglieder bereitgestellt …
      - auf der einen Seite bietet AiB ausgezeichnete Gewinnchancen; gilt aber natürlich auch als stark risikobehaftet, z. B. wegen der (vermeintlichen) Staats-Finanz-Schwäche des Staatsbürgen …  aber Kurs-Renditen von 100 % u. ä. gibt es natürlich nicht ohne Risiko …


      Die Beurteilung einer KE hängt u. a. ab:
      - des Verwendungs-Zweckes, des eingesammelten Geldes (in Form der neunen Aktien). Hier gibt es kaum Zweifel an der Sinnhaftigkeit des AiB-Anliegens (Eigenkapitalstärkung, Schuldenabbau …)
      - vom Bezugspreis der neuen Aktien (orientiert man sich an BoI, sollte das auch positiv akzeptabel werden …
      5 Antworten
      Avatar
      schrieb am 19.09.10 17:39:45
      Beitrag Nr. 342 ()
      Antwort auf Beitrag Nr.: 40.175.026 von Onkel-Max am 19.09.10 16:47:35danke für die info.und wovon ist der ausgabepreis der neuen aktien abhängig?ich habe sehr sehr viele für 0,75€ liegen und wenn die neuen sagen wir mal für 0,50€ aufn markt kommen,mach ich ein dummes gesicht und minus ohne ende....
      4 Antworten
      Avatar
      schrieb am 19.09.10 23:55:52
      Beitrag Nr. 343 ()
      Antwort auf Beitrag Nr.: 40.175.105 von mawasch am 19.09.10 17:39:45..Du bist doch vorberechtigt, wenn Du alte Aktien hast. Du bekommst zuerst das Angebot zum Kauf der neuen Aktien (Bezugsrechte).

      Dann kannst Du entscheiden, Bezug der neuen Aktien z. B. für 0,50 € oder Verkauf der Bezugsrechte z. B. 25 Cent pro Recht. ... (Preise sind Beispiele)

      Vielleicht schaust Du Dir mal den Ablauf bei der Kapitalerhöhung von BoI an ...
      3 Antworten
      Avatar
      schrieb am 20.09.10 08:29:57
      Beitrag Nr. 344 ()
      Antwort auf Beitrag Nr.: 40.175.973 von Onkel-Max am 19.09.10 23:55:52bekomme ich dann post oder eine e-mail von der diba,die beinhaltet.hallo lieber Hr....die neuen aktien sind da,für den und den kurs wollen sie welche kaufen oder die bezugsrechte verkaufen? werden die neuen mit den alten gemischt?
      2 Antworten
      Avatar
      schrieb am 20.09.10 09:28:50
      Beitrag Nr. 345 ()
      In Ireland, meanwhile, rumors that banks there could need a bailout sent Bank of Ireland (ISEQ: BKIR) down 5.3 percent, while Allied Irish Banks (ISEQ: ALBK), also hurt by the news that it will be removed from the Stoxx 600 index at the close of trade today, dropped 11 percent.

      http://www.abcmoney.co.uk/news1/Barclays-Bank-leads-London-s…
      Avatar
      schrieb am 20.09.10 09:32:18
      Beitrag Nr. 346 ()
      Antwort auf Beitrag Nr.: 40.176.224 von mawasch am 20.09.10 08:29:57Lieber mawasch,

      du scheinst ja eher ein neuling auf dem glitschigen börsenparkett zu sein,
      wundere mich dann ein wenig, dass du dann bereits in einen derart spekulativen wert investierst...
      Die Bank wird dich anschreiben, noch sind die Details der KE aber noch nicht raus, vermutlich erst in ein paar wochen..
      gruss
      1 Antwort
      Avatar
      schrieb am 20.09.10 09:37:50
      Beitrag Nr. 347 ()
      Antwort auf Beitrag Nr.: 40.176.503 von jacomo1 am 20.09.10 09:32:18bin wirklich neu in diesem geschäft:p seit november mit mässigem erfolg.ich investiere in dax und pennystocks wie wamu oder JAL momentan in infineon oder QSC.wenn ich schon mal profis hier habe,kennt sich jemand mit der momentanen situation bei JAL aus?
      Avatar
      schrieb am 20.09.10 11:26:59
      Beitrag Nr. 348 ()
      Nur so eine Frage...wenn "DIE" eine Kapitalerhöhung zu 0,50 EURO durchziehen, reicht dann
      die Ausgabe(Stückzahlen), die genannt wurden ???

      Müssen sie nicht mehr Aktien plazieren ( Folge: höhere VERWÄSSERUNG) ???

      Frage ZWEI: Reicht d. eingesammelte Kapital um den höheren Eigenkapitalanforderungen (BASEL III) gerecht zu werden ???

      Außerdem will Irland ...MORGEN am Kapitalmarkt 1,5 Milliarden an Anleiheemissionen ( vier- und achtjährige Anleihen) platzieren...wenn dies nicht gelingt, wird es für Irland u. seine Banken ...SCHWIERIG !!!

      Sie müssen Anleger mit sehr hohen Renditen locken...bei zehnjährigen Staatsanleihen wird momentan ein Mehraufschlag v.: 3,87 Prozentpunkte genommen...dies ist der höchste Wert seit der EURO-EINFÜHRUNG !!!

      Angeblich hat die EZB am Freitag irische Anleihen gekauft, um den Renditeanstieg abzubremsen !!!

      VORSICHT IST GEBOTEN...

      Gruss titan
      Avatar
      schrieb am 20.09.10 19:38:18
      Beitrag Nr. 349 ()
      was ist das hier für ein forum,keine meinungen,kein erfahrungsaustausch,keine neuigkeiten oder spekulationen.....:confused:
      Avatar
      schrieb am 20.09.10 23:53:45
      Beitrag Nr. 350 ()
      Die Verkaufsgespräche um die Anteile von M&T scheinen in der Endphase zu sein:

      http://www.thestreet.com/story/10866248/1/mt-bank-surges-on-…

      Bin gespannt, ob es genauso a) eine ähnlich guten Verkaufswert gibt wie bei der polnischen Unit und b) wie es der Markt ausfasst...

      Laut Marktkap hat der 22% Anteil von AIB einen Wert von ca. 2.3 MRD. $...
      5 Antworten
      Avatar
      schrieb am 21.09.10 08:57:15
      Beitrag Nr. 351 ()
      Antwort auf Beitrag Nr.: 40.182.058 von Cyberkunde am 20.09.10 23:53:45guten morgen,
      heisst das das es evtl.keine kapitalerhöhung gibt?
      4 Antworten
      Avatar
      schrieb am 21.09.10 11:31:29
      Beitrag Nr. 352 ()
      Antwort auf Beitrag Nr.: 40.182.604 von mawasch am 21.09.10 08:57:15DAS WÄRE EINE GUTE Idee.
      Mal sehen was daraus gemacht wird.
      Der Kurs müsste dann ja mal wieder anspringen;)
      Avatar
      schrieb am 21.09.10 11:32:35
      Beitrag Nr. 353 ()
      Antwort auf Beitrag Nr.: 40.182.604 von mawasch am 21.09.10 08:57:15Nein, es fehlen auch nach M&T Verkauf ca. 2 MRD EURO...
      Wo die herkommen sollen, weiß ich nicht...

      Daher ist eine KE sehr sicher, auch weil Sie schon angekündigt wurde...
      2 Antworten
      Avatar
      schrieb am 21.09.10 12:40:20
      Beitrag Nr. 354 ()
      Antwort auf Beitrag Nr.: 40.183.793 von Cyberkunde am 21.09.10 11:32:35Eine KE dürfte nicht das Problem sein, aktuell liegt ja die MK nur bei ner guten halben Million, dem stehen alleine im ersten Halbjahr ca. 1 Mio Gewinn gegenüber!!!

      http://www.deraktionaer.de/xist4c/web/Anglo-Irish-vor-dem-Aus---was-geschieht-mit-Allied-Irish-_id_261__dId_12526529_.htm
      Avatar
      schrieb am 21.09.10 13:47:18
      Beitrag Nr. 355 ()
      Antwort auf Beitrag Nr.: 40.183.793 von Cyberkunde am 21.09.10 11:32:35Außer der Beteiligung an M&T steht doch auch noch eine Beteiligung an einer Britischen Bank zum Verkauf,
      dann könnte es doch etwa hinkommen?

      Aber selbst wenn es nicht genug sein sollte,wäre dann mit der KE bestimmt auch noch etwas Reserve da!

      Außerdem würde dann endlich ruhe bei AIB einkehren!

      Gruß
      hauswand :cool:
      Avatar
      schrieb am 21.09.10 16:15:33
      Beitrag Nr. 356 ()
      das sind die neuesten Zahlen nach dem Polen deal!

      21.09.2010 14:35
      BRIEF-AIB's H1 net interest margin after Polish sale
      DUBLIN, Sept 21 (Reuters) - Allied Irish Banks PLC:

      * Says net interest margin for its continuing businesses following sale of Polish businesses would have been 155 bps in H1 2010

      * Average interest earning assets would have been 109 billion euros,resulting in annualised net interest income of 1.69 billion euros in H1


      (Dublin Newsroom; + 353 1 500 1529)


      http://www.finanznachrichten.de/nachrichten-2010-09/18018575…
      Avatar
      schrieb am 21.09.10 16:39:58
      Beitrag Nr. 357 ()
      Was für ein Riesenumsatz in London und der Kurs dreht nicht ab!!!!

      Diese News bewegt anscheinend nur ein paar Aktien hin und her;)
      Avatar
      schrieb am 22.09.10 07:06:56
      Beitrag Nr. 358 ()
      The Irish Times - Wednesday, September 22, 2010

      AIB close to securing deal to offload US stake


      THE EUROPEAN Commission has given its formal approval to an extension of the State guarantee over short-term business deposits in Irish banks until the end of the year.

      The commission’s decision, which comes days before the original protection was due to lapse, follows an unambiguous statement of support for a such an extension from competition commissioner Joaquín Almunia a fortnight ago.

      It comes against the backdrop of mounting anxiety in Brussels about the cumulative impact of the financial burden on the Government as a result of the Anglo Irish Bank rescue and a steep increase in the State’s borrowing costs.

      The measure was introduced to help avert the prospect of large-scale deposit loss from Anglo if the guarantee for large business deposits were lifted. Anglo had sought an extension to the guarantee scheme, as had Allied Irish Banks.

      A further consideration behind the measure is to improve the prospects of other Irish banks refinancing billions of euro in Government-guaranteed debt before the end of the month.

      Following an earlier extension to the guarantee over longer-term bank liabilities, the latest extension covers short-term corporate and interbank deposits to the end of 2010 and certain debt securities. The renewed guarantee comes at a price with higher fees to be levied on participating banks according to their credit ratings.

      Welcoming the commission’s decision, Minister for Finance Brian Lenihan said the guarantees over short-term and long-term securities stood among a range of measures to help the banking system meet the credit needs of the economy as it recovers. Mr Lenihan has left open the question of whether he would seek a further extension at the end of the year.

      http://www.irishtimes.com/newspaper/finance/2010/0922/122427…
      Avatar
      schrieb am 22.09.10 19:44:40
      Beitrag Nr. 359 ()
      das sind immer super postings,irgendwo kopiert und noch nicht einmal übersetzt,weil ja jeder der tradet auch ein fernkurs in englisch absolviert hat....:rolleyes:
      9 Antworten
      Avatar
      schrieb am 22.09.10 20:19:23
      Beitrag Nr. 360 ()
      Antwort auf Beitrag Nr.: 40.194.383 von mawasch am 22.09.10 19:44:40na ja, kollege, wenn du schon in eine irische bank spekulierst ist es wahrlich sinnvoll englisch zu können, ansosnten gibt es auch hierzulande hochspekulative titel
      Avatar
      schrieb am 23.09.10 07:51:42
      Beitrag Nr. 361 ()
      AIB could boost capital by selling its smaller assets for €400m




      By Laura Noonan

      Thursday September 23 2010

      AIB could make as much as €400m by selling "smaller" assets as part of its massive disposals process, it emerged yesterday.

      The news comes as the bank battles to boost its capital by €7.4bn to meet an end-of-year deadline set by the Financial Regulator.

      AIB has already secured €2.5bn of this by agreeing to sell its Polish interests to Spanish banking giant Santander.

      The bank is also expected to reap as much as €1.2bn from selling its stake in US bank M&T and could make another €1bn from selling its UK operations.

      Yesterday, however, it emerged that an extra €400m could be eeked from "smaller" disposals, putting AIB's total asset haul as high as €5.1bn.

      In a research note issued yesterday, stockbrokers Bloxham said that "following a meeting with AIB", it expected "further smaller sales could net the group up to €400m".

      AIB's general manager of group finance Alan Kelly last night stressed that the bank was not saying it would definitely raise that €400m. "We've said from the outset that we're looking at all non-core assets," he said.

      Sales

      "We're saying that the smaller sales could potentially raise up to that [the €400m]."

      Earlier in week, AIB announced that it had sold stockbroking firm Goodbody's for €24m.

      The other smaller sales may include AIB Investment Managers and the bank's eastern European holdings outside of Poland.

      In Bloxham's note, the stockbrokers also said that following its meeting with AIB, it expected "the sale of an asset by the end of September for circa €1.2bn".

      AIB is reportedly on the verge of selling its 22pc stake in M&T to Santander in a deal that could reap about that amount.

      The bank has also received final bids on its UK business, including First Trust in the North and AIB GB. The timing of the UK transaction, however, is unclear.

      AIB will go to the market to raise the shortfall between its asset sales and year-end capital demand, a shortfall that could be as low as €2.3bn.

      Recent speculation has suggested the bank may even begin an equity raise before all the sales have been agreed, so it will have sufficient time to communicate with the market.

      The bank is facing a race against the clock to get its capital fully secured by the end of the year or letting the State pick up any shortfall and potentially take majority ownership of the lender.

      - Laura Noonan

      Irish Independent
      Avatar
      schrieb am 23.09.10 08:47:01
      Beitrag Nr. 362 ()
      Antwort auf Beitrag Nr.: 40.194.383 von mawasch am 22.09.10 19:44:40Moin mawasch, :)

      in dem Bericht von heute morgen,den Aktientitan rein gestellt hat,steht grob zusammen gefasst:

      Wenn AIB nach der Beteiligung in Polen auch noch die Beteiligung an der US-Bank M&T,den Geschäftsbereich aus Großbritannien und weiter kleinere Veräußerungen gemacht hat,bleibt noch ein Defizit von 2,3 Mrd€ um die 7,4 Mrd€ zu erreichen,den man wahrscheinlich mit einer KE einbringen will!

      Wie gesagt grob zusammen gefasst,aber das wichtige steht drin!

      Gruß
      hauswand :cool:
      7 Antworten
      Avatar
      schrieb am 23.09.10 12:27:56
      Beitrag Nr. 363 ()
      Antwort auf Beitrag Nr.: 40.196.220 von hauswand am 23.09.10 08:47:01ich weiss nicht, wie bei dem aktienkurs eine ke aussehen sollte. aib müsste ja über eine
      milliarde neue aktie ausgeben.
      2 Antworten
      Avatar
      schrieb am 23.09.10 13:18:58
      Beitrag Nr. 364 ()
      Antwort auf Beitrag Nr.: 40.197.984 von herwoe am 23.09.10 12:27:56D. ist d. Problem !

      :cry:
      1 Antwort
      Avatar
      schrieb am 23.09.10 15:04:51
      Beitrag Nr. 365 ()
      Antwort auf Beitrag Nr.: 40.196.220 von hauswand am 23.09.10 08:47:01aha,vielen dank ich werde nämlich langsam nervös,wiel ich nicht mehr weiss was ich machen soll.der kauf der aktie war ne empfelung von einem kumpel und durch verbilligen bin ich mitlerweile richtig dick investiert.ich habe nur noch kleine reserven und stehe bei 0,75€ und der kurs fällt und fällt,keine ahnung was ich machen kann.....:confused:
      3 Antworten
      Avatar
      schrieb am 23.09.10 16:00:36
      Beitrag Nr. 366 ()
      Antwort auf Beitrag Nr.: 40.198.235 von Aktientitan am 23.09.10 13:18:58das könnte doch ne chance sein für steigende kurse; jetzt müssen mal´n paar institutionelle anleger ran die den kurs pflegen bis sich ne ke rechnet;

      denke mal heute ist n´guter tag für nen einstieg, denn wenn das blut die strasse runterläuft musste handeln;)
      Avatar
      schrieb am 23.09.10 16:35:39
      Beitrag Nr. 367 ()
      Antwort auf Beitrag Nr.: 40.198.903 von mawasch am 23.09.10 15:04:51erschieß deinen kumpel :laugh:
      1 Antwort
      Avatar
      schrieb am 23.09.10 16:49:09
      Beitrag Nr. 368 ()
      Antwort auf Beitrag Nr.: 40.199.639 von herwoe am 23.09.10 16:35:39so,erledigt :look:
      Avatar
      schrieb am 23.09.10 16:51:11
      Beitrag Nr. 369 ()
      Antwort auf Beitrag Nr.: 40.198.903 von mawasch am 23.09.10 15:04:51An deiner Stelle würde ich mir schon mal Gedanken machen wie ich mich bei meinem Kumpel für den tollen Tipp bedanken würde! :D

      Gruß
      hauswand :cool:
      Avatar
      schrieb am 23.09.10 16:54:29
      Beitrag Nr. 370 ()
      das ihr hier für 0,60€ drin seit kann ich mir auch nicht vorstellen ;)
      1 Antwort
      Avatar
      schrieb am 23.09.10 17:37:42
      Beitrag Nr. 371 ()
      Antwort auf Beitrag Nr.: 40.199.779 von mawasch am 23.09.10 16:54:29eisernes prinzip: folge nie empfehlungen von kumpels, is ja noch schlimmer als auf empfehlungen von ANALysten zu hören.

      treff deine eigenen entscheidungen, denn auf sich selbst stinkig zu sein ist weniger blutdruckfördernd als auf den kumpel stinkig zu sein;)
      Avatar
      schrieb am 23.09.10 18:46:18
      Beitrag Nr. 372 ()
      An der NASDAQ sieht es auch nicht besser aus... !

      :mad:

      Hier der Link:
      http://www.nasdaq.com/aspx/nasdaqlastsale.aspx?symbol=YRCW&s…
      Avatar
      schrieb am 24.09.10 08:00:57
      Beitrag Nr. 373 ()
      Stakes must be sold to new buyers -- OECD



      By Brendan Keenan

      Thursday September 24 2009

      GOVERNMENTS which have acquired stakes in banks during rescue operations should not sell them to existing bank groups or bidders with more than modest debt, economists at the Organisation for Economic Cooperation and Development (OECD) said yesterday.

      Governments around the world have acquired minority and majority stakes in banks as a means of boosting their capital and keeping them solvent during the financial crisis.

      The Irish Government has 25pc stakes in Allied Irish Banks and Bank of Ireland and this figure may rise if the Government has to put more capital into the banks, as they write off their NAMA losses.
      :mad::mad::mad:
      Strategies

      Some analysts think the State could end up as the majority shareholder in AIB. It already owns 100pc of Anglo Irish Bank.

      :mad::mad::mad:

      Auszug:

      Dies ist der Grund für den STARKEN ABFALL...Irish Government könnten ihren Anteil aufstocken

      Die irische Regierung hat einen 25% Anteil an Allied Irish Banks und Bank of Ireland und diese Zahl könnte steigen...
      Einige Analysten halten es für möglich, d. der Staat am Ende als Mehrheitsgesellschafter in AIB investiert ist !!!


      The Group of 20 large economies have agreed that they should start to prepare exit strategies, covering the withdrawal of large borrowings, low interest rates, creation of money and liquidity, and support to the banking system.

      The selling of government stakes in banks will be part of those exit strategies.

      In the report on the priorities that should guide the withdrawal of bank support measures, the OECD said governments should seek to tap new pools of capital when it comes to selling their stakes.

      "Existing banks should be avoided, as sales to banks provide no new capital to the system as a whole," the OECD's economists said, adding that sales to pension funds, sovereign wealth funds, some private equity funds, and even private individuals would be preferable.

      Stakes

      The OECD also warned against sales to buyers that already have high levels of borrowing, or who borrow to buy those stakes.

      "Equity that is financed by borrowing is only an apparent increase in equity for the system," the economists said.

      "A test for potential credible long-term owners is that their own leverage should be modest at most," they said.

      - Brendan Keenan

      http://www.independent.ie/business/world/stakes-must-be-sold…
      Avatar
      schrieb am 24.09.10 09:59:09
      Beitrag Nr. 374 ()
      gibts doch gar nicht der kurs fällt und fällt.....
      was wäre denn so schlimm,wenn der irische staat die mehrheit an AIB hat,für uns aktionäre?
      12 Antworten
      Avatar
      schrieb am 24.09.10 10:23:51
      Beitrag Nr. 375 ()
      Antwort auf Beitrag Nr.: 40.203.397 von mawasch am 24.09.10 09:59:09JUNGE,JUNGE...
      bist "DU"...NAIV- SCHON MAL ETWAS VON VERSTAATLICHUNG...GEHÖRT ???

      Dann hast "DU" als Aktionär...nichts mehr !

      :D
      11 Antworten
      Avatar
      schrieb am 24.09.10 10:34:25
      Beitrag Nr. 376 ()
      Antwort auf Beitrag Nr.: 40.203.577 von Aktientitan am 24.09.10 10:23:51ja,habe ich.das sind die,die die hand drauf halten,damit nicht wieder irgendwelche grösstenwahnsinnige manager meinen,das ihre provinz bank ein finanzielles volumen von fort knox haben.sie können nicht mehr so risikoreich agieren und müssen ständig rede und antwort stehen.wo ist mein nachteil?? belehre mich;)
      10 Antworten
      Avatar
      schrieb am 24.09.10 10:54:02
      Beitrag Nr. 377 ()
      Antwort auf Beitrag Nr.: 40.203.654 von mawasch am 24.09.10 10:34:25VERSTAATLICHUNG.

      ENTEIGNUNG D. AKTIONÄRS.

      BLEIBT NICHTS.

      KAPIERT ?
      9 Antworten
      Avatar
      schrieb am 24.09.10 11:03:48
      Beitrag Nr. 378 ()
      Antwort auf Beitrag Nr.: 40.203.770 von Aktientitan am 24.09.10 10:54:02und das geht so mir nichts dir nichts?
      8 Antworten
      Avatar
      schrieb am 24.09.10 11:05:49
      Beitrag Nr. 379 ()
      wenn so was im raum steht warum wird hier keiner nervös und verkauft?oder wird hier nur mit taschengeld gezockt?
      1 Antwort
      Avatar
      schrieb am 24.09.10 11:45:42
      Beitrag Nr. 380 ()
      Antwort auf Beitrag Nr.: 40.203.844 von mawasch am 24.09.10 11:05:49haben doch schon alle verkauft, bis auf dich. du bist der letzte verblieben aktionär und musst das licht ausmachen !:laugh::laugh:
      Avatar
      schrieb am 24.09.10 11:49:35
      Beitrag Nr. 381 ()
      Antwort auf Beitrag Nr.: 40.203.825 von mawasch am 24.09.10 11:03:48Ähnliche Situation bei der Anglo Irish Bank !

      VERSTAATLICHT.
      6 Antworten
      Avatar
      schrieb am 24.09.10 12:00:28
      Beitrag Nr. 382 ()
      Antwort auf Beitrag Nr.: 40.204.170 von Aktientitan am 24.09.10 11:49:35eigentlich gibt es gar keine andere möglichkeit wie verstaatlichung. wenn die aib bis jahresende das geld nicht auftreibt ist es soweit. durch eine normale ke würde der kurs so verwässert werden, sodass keine einzige aktie gezeichnet werden würde.
      4 Antworten
      Avatar
      schrieb am 24.09.10 12:12:20
      Beitrag Nr. 383 ()
      Antwort auf Beitrag Nr.: 40.204.170 von Aktientitan am 24.09.10 11:49:35Ey Aktientitan, du bist immer noch der Basher vom Dienst...

      Anglo Irish Bank ist in keinster weise mit Allied Irish Bank zu vergleichen...

      Es steht keine "vollständige Verstaatlichung" und somit eine Enteignung zur Diskussion. Man spricht davon, ggfls. eine Mehrheitsbeteiligung an der Bank zu erwerben... von da bis zur Enteignung ist es noch weit...

      Man bedenke auch, dass der Kurs schon viel "vorweg" genommen hat...


      Lieber Aktientitan, ich möchte dich nochmals bitten: konzentriere dich auf die Fakten und versuche keine Gerüchte zu verbreiten und zu übertreiben...
      Avatar
      schrieb am 24.09.10 12:13:36
      Beitrag Nr. 384 ()
      Antwort auf Beitrag Nr.: 40.204.259 von herwoe am 24.09.10 12:00:28BINGO !
      Avatar
      schrieb am 24.09.10 12:15:35
      Beitrag Nr. 385 ()
      Antwort auf Beitrag Nr.: 40.204.259 von herwoe am 24.09.10 12:00:28Schaut euch doch mal die BOI an...

      KE durchgeführt... schaut mal auf die Marktkapitalisierung...

      Warum sollte das nicht ein gleicher (bzw. etwas umfangreicher Form) auch bei AIB möglich sein...?

      Und wenn eine KE erhöhung gemacht wird, ist das Geld nicht "weg", sondern das Geld der KE fließt dem Equity zu... demnach haben die Shareholder auch einen Gegenwert zu ihren aktien... Also wartet mal ab...
      2 Antworten
      Avatar
      schrieb am 24.09.10 12:21:10
      Beitrag Nr. 386 ()
      Antwort auf Beitrag Nr.: 40.203.825 von mawasch am 24.09.10 11:03:48Mahlzeit mawasch, :)

      ganz so stimmt das nicht wie Aktientitan schreibt,denn auch bei der HRE wurde den Aktionären noch ein Angebot gemacht und die ist heute komplett Verstaatlicht.

      Aber trotz allem ist das natürlich keine gute Situation,denn den Aktionären von der HRE wurde auch gesagt ihr könnt das annehmen oder euer Geld ist weg und das Angebot war auch eher ein Almosen! :(

      Immer die Ruhe bewahren,noch ist nicht aller Tage Abend! :look:

      Gruß
      hauswand :cool:
      Avatar
      schrieb am 24.09.10 12:21:28
      Beitrag Nr. 387 ()
      Antwort auf Beitrag Nr.: 40.204.401 von Cyberkunde am 24.09.10 12:15:35D. Problem ist...BOI hat die Kapitalerh. zu einem wesentlich höheren Kurs durchgeführt !

      Wie soll d. bei AIB, bei einem Kurs von 0,55 EURO gehen ???

      Hier würde der Kurs so VERWÄSSERT, d. die NEUEN AKTIEN...
      dann zu 0,20-0,30 EURO gezeichnet werden müßten !

      Einfach sehr unwahrscheinlich...
      1 Antwort
      Avatar
      schrieb am 24.09.10 13:03:26
      Beitrag Nr. 388 ()
      Antwort auf Beitrag Nr.: 40.204.441 von Aktientitan am 24.09.10 12:21:28warum unwahrscheinlich? wenn ich mir die kursverluste der vergangenen wochen anschaue, dann kann ich mich nicht des eindrucks erwehren, dass gewisse marktteilnehmer ein starkes interesse an sehr niedrigen kursen haben. getreu der devise "wenn schon schweinefleisch, dann triefend" könnte der staat ein echtes interesse haben, überaus günstig zum zuge zu kommen, um langfristig viele optionen in der hand zu haben oder um später einen wirklich flotten schnitt zu machen..
      was im augenblick läuft erinnert an eine schleichende enteignung der alt-aktionäre.
      Avatar
      schrieb am 24.09.10 17:19:02
      Beitrag Nr. 389 ()
      Avatar
      schrieb am 27.09.10 08:59:45
      Beitrag Nr. 390 ()
      :eek::eek::eek:



      ISME calls for new bank to compete with AIB and BoI



      27/09/2010 - 07:22:25
      Small companies are expressing concern at a deterioration in banking competition.

      ISME, their representative body, called on the Government to create a "third-force bank" to tackle what is says is the duopoly of AIB and Bank of Ireland.

      The call comes in a new survey from the group which shows an improvement in the level of bank credit to small companies.

      ISME's CEO Mark Fielding said that, as competition gets tighter, lending was likely to become more expensive.

      "With the number of banks reducing all the time (and Bank of Scotland Ireland closing down)…we'd be calling for a third force to compete…Otherwise, we will have a general increase in bank interest and charges for small businesses over the coming number of years," he said.

      http://www.breakingnews.ie/business/isme-calls-for-new-bank-…
      Avatar
      schrieb am 27.09.10 14:29:26
      Beitrag Nr. 391 ()
      Und SocGen hat auch noch die Aktie vor ein paar Tagen mit Ziel 1,40 EUR zum Kauf empfohlen.
      Die haben doch nicht den Blassen, was abgeht. :cry:
      Avatar
      schrieb am 27.09.10 16:15:07
      Beitrag Nr. 392 ()
      wann werden wir wieder grünnnnnnnnnnnnn:cry:
      Avatar
      schrieb am 27.09.10 18:46:28
      Beitrag Nr. 393 ()
      liebe leute,was ist denn jetzt?muß ich meine allied irish mit verlust verkaufen bevor hier alles den bach runter geht?:confused:
      2 Antworten
      Avatar
      schrieb am 28.09.10 16:44:59
      Beitrag Nr. 394 ()
      Antwort auf Beitrag Nr.: 40.218.392 von mawasch am 27.09.10 18:46:28Das kommt drauf an, mit wieviel du investiert bist.
      In Aktien sollte man immer das Geld investieren, auf das man zur größten Not trotzdem verzichten kann.

      Ich könnte AIB zerbomben. :(

      Hätte ich Riesentrottel doch nur in Aer Lingus investiert, das war zuerst meine Abwägung.
      Statt 50% Verlust wären es dann 40% Gewinn.

      Das war definitiv das allerletzte Mal, dass ich in eine Bankaktie investiert habe. Das werde ich in Riesenlettern über mein Bett hängen, soviel ist sicher.

      Ich kann dir nicht raten, ob du drinbleiben sollst. Was mich betrifft: Ich bleibe bis zum bitteren Ende. Kann sein, dass sich das Papier noch mal berappelt, so wie BP (obwohl bei denen mehr Substanz dahinter ist).

      SocGen macht sich mit seiner 1,40er-Empfehlung doch lächerlich. Die sind selbst dicke investiert und hoffen, dass so der Kurs nochmal steigt, damit sie noch bei 1 EUR vielleicht aussteigen können.
      1 Antwort
      Avatar
      schrieb am 28.09.10 21:06:32
      Beitrag Nr. 395 ()
      Antwort auf Beitrag Nr.: 40.225.116 von eaglez am 28.09.10 16:44:59ich wär froh wenn sie bis auf 0,75€ steigen würde;) dann würde ich rauß sein:cry:
      Avatar
      schrieb am 28.09.10 21:26:41
      Beitrag Nr. 396 ()
      Daß die 0,50 so schnell kommt ist krass (siehe mein posting #10645) :eek:

      geht wohl weiter bis 0,30 € (siehe #10638) ;)
      10 Antworten
      Avatar
      schrieb am 29.09.10 08:22:42
      Beitrag Nr. 397 ()
      Antwort auf Beitrag Nr.: 40.227.478 von sporttrader am 28.09.10 21:26:41Hatte vor d. Szenario vor Monaten gewarnt (schon zu Zeiten der DUBAI-KRISE), keiner wollte dies hören, wo sind eigentlich meine größten KRITIKER geblieben ( Karpatenaal, EPB, esanti007 u.s.w.) ???
      9 Antworten
      Avatar
      schrieb am 29.09.10 09:51:12
      Beitrag Nr. 398 ()
      Antwort auf Beitrag Nr.: 40.229.053 von Aktientitan am 29.09.10 08:22:42....ist es deiner Meinung nach noch zu früh erste Positionen aufzubauen?

      ....oder gar ganz abzuraten, da der Staat evtl. komplett den Laden übernimmt?
      8 Antworten
      Avatar
      schrieb am 29.09.10 10:04:03
      Beitrag Nr. 399 ()
      Antwort auf Beitrag Nr.: 40.229.627 von Tom06 am 29.09.10 09:51:12das ist eine heiße spekulation: nachdem die ratingagentur S&P gestern davor gewarnt hat, dass die rettung der anglo irish bank nicht mehr als 35 Mrd. Euro kosten soll, wartet der markt jetzt darauf, was die irische regierung morgen als rettungssumme angeben wird.. sollte der betrag deutlich über den 35 mrd. liegen, könnte das unangenhem aufst0ßen...bleibt der wert aber darunter oder in besagter größenordnung könnte der markt eventuell positiv überrascht werden und die ausgbombten irischen bank-titel einen satz nach oben machen...anyway, das sentiment für irische bank-titel ist völlig im keller...eine KE auf dem aktuellen kursniveau wäre für AIB faktisch unmöglich, folglich müsste der kurs vor einer KE deutlich anspringen...am besten eine flotte rückkehr auf 0,80 - 1 Euro....mal sehen, ob der markt aktuell gen süden übertreibt...
      Avatar
      schrieb am 29.09.10 10:42:30
      Beitrag Nr. 400 ()
      Antwort auf Beitrag Nr.: 40.229.627 von Tom06 am 29.09.10 09:51:12Vielleicht hilft "DIR" dies...

      Viele Fragen zu Irland werden beantwortet !!!

      Schuldenkrise
      Anleger lassen Irland fallen
      Die Spekulationen um die grüne Insel kochen. Investoren sorgen sich um die Kosten der Bankenrettung, Ratingagenturen warnen vor weiteren Herabstufungen. Die Renditen für dreijährige irische Staatsanleihen erreichen eine kritische Höhe. von Christine Mai Frankfurt und André Kühnlenz Frankfurt
      Die Sorgen der Investoren um Irland haben am Dienstag einen neuen Höhepunkt erreicht. Spekulationen um weitere Hilfen für die Banken des Inselstaats sowie um weitere Herabstufungen der Bonitätsnote trieben die Rendite dreijähriger irischer Staatsanleihen erstmals über den Zins, den das Land zahlen müsste, wenn es Geld aus dem milliardenschweren EU-Rettungsfonds annehmen würde.
      Irlands Regierungschef Brian Cowen Irlands Regierungschef Brian Cowen
      Dieser Rettungszins lag bei 5,08 Prozent, irische Bonds mit drei Jahren Laufzeit rentierten bei 5,18 Prozent. Renditen und Kurse bewegen sich bei Anleihen gegenläufig zueinander. Das Land muss zwar derzeit die Märkte nicht anzapfen, laut Regierungschef Brian Cowen hat sich Irland seine Finanzierung bis Mitte 2011 gesichert. Längerfristig ist das hohe Zinsniveau aber nicht tragbar. "Wir sind entschlossen, zu tun, was nötig ist, um international Vertrauen zu gewinnen", sagte Cowen.
      Anleger fürchten, die Sanierung der angeschlagenen irischen Banken könnten den Inselstaat überfordern. Insbesondere die verstaatlichte Anglo Irish Bank steht dabei im Fokus. Wahrscheinlich am Donnerstag wird die Regierung in Dublin über die Kosten für die Sanierung der Bank informieren, die aufgespalten und allmählich abgewickelt werden soll. Auch zum Umgang mit den Anleihegläubigern des Instituts will sich die Regierung äußern. Die Nervosität hat die hohe Verschuldung vieler europäischer Staaten wieder stärker ins Bewusstsein der Anleger geholt.
      Auch Kreditderivate (Credit Default Swaps, CDS) auf irische Staatsanleihen kletterten weiter, sie notierten laut dem Datendienstleister 16 Basispunkte höher als am Vortag bei 492 Basispunkten. Damit kostet es 492.000 Euro im Jahr, Papiere im Wert von 10 Mio. Euro gegen einen Ausfall zu versichern. Zum Vergleich: CDS auf deutsche Staatsanleihen lagen bei 41 Basispunkten. Auch portugiesische CDS zogen stark an. "Bis sie ihre Position klar darlegen, werden die Spreads wahrscheinlich volatil sein", sagte Gavan Nolan, Vice-President Research bei Markit, mit Blick auf die erwartete Ankündigung aus Dublin.


      Mehr zu: Anglo Irish Bank, Brian Cowen, Irland
      Bislang hat Irland fast 23 Mrd. Euro in Anglo Irish gesteckt. Nach bisherigen Schätzungen der Regierung wird der Endbetrag bei rund 25 Mrd. Euro liegen. Die Ratingagentur Standard & Poors's (S&P) warnt jedoch, die Sanierung könne bis zu 35 Mrd. Euro verschlingen. Am Dienstag bekräftige S&P, diese Schätzung sei zunehmend realistisch. Solle der Betrag noch höher ausfallen, sei eine weitere Herabstufung der Bonitätsnote Irlands möglich. Die Ratingagentur hatte Irland erst vor einigen Wochen auf AA- herabgesetzt. Auch Fitch warnte vor einer Senkung des Ratings.
      Selbst wenn Anglo Irish ingesamt "nur" 25 Mrd. Euro benötigen sollte, dürfte das das irische Haushaltsdefizit auf 20 Prozent des Bruttoinlandsprodukts (BIP) oder mehr anschwellen lassen.
      Bis Ende 2014 will die Regierung das Minus auf drei Prozent des BIP drücken. Nachdem Irland die Märkte zunächst mit einem strikten Sparkurs beeindruckte, wachsen nun angesichts der Probleme im Bankensektor die Zweifel daran, dass der Inselstaat das Defizit in den Griff bekommt - zumal die Wirtschaftsleistung im zweiten Quartal nach einer zwischenzeitlichen Erholung wieder schrumpfte. Daher gerät die Regierung zunehmend in Zugzwang, das Budget für 2011 nicht erst im Dezember, sondern bereits früher zu präsentieren.


      http://www.ftd.de/finanzen/maerkte/anleihen-devisen/:schulde…
      6 Antworten
      Avatar
      schrieb am 29.09.10 11:27:52
      Beitrag Nr. 401 ()
      Antwort auf Beitrag Nr.: 40.230.062 von Aktientitan am 29.09.10 10:42:30Wahrscheinlich am Donnerstag wird die Regierung in Dublin über die Kosten für die Sanierung der Bank informieren, die aufgespalten und allmählich abgewickelt werden soll.


      puhhhh ...... wer sollte denn dann hier noch in den Wert investieren "aufgespalten und abgewickelt" :rolleyes:
      5 Antworten
      Avatar
      schrieb am 29.09.10 11:38:48
      Beitrag Nr. 402 ()
      Antwort auf Beitrag Nr.: 40.230.449 von Tom06 am 29.09.10 11:27:52tja, all der horror ist hoffentlich im kurs drin, wenn es aber weniger dramatisch kommt, geht der kurs ab...das ist spekulation...
      4 Antworten
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      schrieb am 29.09.10 12:25:00
      Beitrag Nr. 403 ()
      kann der wert eigentlich in London oder Dublin noch geshortet werden, oder besteht das Aussetzen von Leerverkäufen bei Bank-Titeln noch?
      Avatar
      schrieb am 29.09.10 12:43:45
      Beitrag Nr. 404 ()
      Antwort auf Beitrag Nr.: 40.230.547 von jacomo1 am 29.09.10 11:38:48nun gut, aber fundamental lässt sich ein Invest derzeit sehr schwer begründen :rolleyes:

      wenn bereits feststeht, dass AIB abgewickelt wird, dann lässt es hier kein long-invest zu :rolleyes:
      3 Antworten
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      schrieb am 29.09.10 13:19:59
      Beitrag Nr. 405 ()
      Antwort auf Beitrag Nr.: 40.231.123 von Tom06 am 29.09.10 12:43:45... kann es sein, dass Du Anglo und AiB verwechselst? :)
      2 Antworten
      Avatar
      schrieb am 29.09.10 14:18:27
      Beitrag Nr. 406 ()
      Antwort auf Beitrag Nr.: 40.231.485 von Onkel-Max am 29.09.10 13:19:59Ich habe das Gefühl, dass das hier nicht zum ersten mal passiert ist......
      1 Antwort
      Avatar
      schrieb am 29.09.10 15:05:46
      Beitrag Nr. 407 ()
      Antwort auf Beitrag Nr.: 40.231.917 von GanzTollIany am 29.09.10 14:18:27Sorry .... und ihr habt natürlich völlig recht ... ;)

      Ich könnte mir jedoch vorstellen, dass viele Durcheinanderkommen, besonders nach diesem Artikel:

      http://www.heise.de/tp/blogs/8/148351

      Das ist echt mal krass, wenn manche Medien mit dem Kürzel AIB die Anglo Irish Bank meinen :rolleyes:

      Da meine Recherchen bzgl. AIB noch nicht ganz abgeschlossen sind nochmals vielleicht die Frage in die Runde: Weshalb wurde dann AIB bis dato kursmässig runtergeprügelt? Bzgl. Irland allgemein? Bzw. was haben die zu investierenden Staatskosten in die Anglo mit der AIB evtl. zu tun?

      Grüsse
      TOM
      Avatar
      schrieb am 29.09.10 17:06:07
      Beitrag Nr. 408 ()
      es scheint sich eine lösung abzuzeichnen.
      1 Antwort
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      schrieb am 29.09.10 17:10:24
      Beitrag Nr. 409 ()
      es kann doch nicht sein dass die irische Regierung alle Banken verstaatlichen wird, wenn schon dann BOI und anglo irisch Bank, nicht aber AIB,

      AIB werden sie bestimmt nicht fallen lassen, weil die Bank das größte Bankennetz in Irland hat.
      Avatar
      schrieb am 29.09.10 17:11:31
      Beitrag Nr. 410 ()
      Antwort auf Beitrag Nr.: 40.233.348 von herwoe am 29.09.10 17:06:07irgendwas liegt in der Luft .... der Kurs geht schön mit :rolleyes:
      Avatar
      schrieb am 29.09.10 17:14:05
      Beitrag Nr. 411 ()
      EU erhöht Druck auf Irland
      29. September 2010, 16:29

      EU-Kommissar fordert detaillierten Vier-Jahres-Sparplan - Portugal ringt um weitere Einschnitte

      Dublin/Lissabon, 29. Sep (Reuters) - Die Europäische Union erhöht den Druck auf das unter einer Schuldenkrise ächzende Irland. EU-Währungskommissar Olli Rehn forderte die Regierung in Dublin auf, einen glaubhaften Vier-Jahres-Plan vorzulegen, in dem Details zu den Einsparungen genau aufgeschlüsselt sind. Wenn man jetzt deutlich mache, wie das Haushaltsdefizit bis 2014 unter die Maastricht-Grenze von drei Prozent der Wirtschaftsleistung gebracht werden soll, werde das auch an den Märkten für Klarheit sorgen, sagte Rehn in einem am Mittwoch veröffentlichten Interview der "Irish Times". Zugleich bekräftigte Rehn, Irland solle nicht auf Hilfen der EU und des Internationalen Währungsfonds zurückgreifen. Die Renditeaufschläge auf irische Staatsanleihen hatten zuletzt Rekordwerte erreicht.

      Irlands Ministerpräsident Brian Cowen ringt derzeit um das Vertrauen der Märkte, dass sein Land mit den Kosten der Bankenrettung fertig werden und das höchste Haushaltsdefizit in der EU in den Griff bekommen kann. Bisher ist immer noch unklar, wie teuer die Abwicklung der Krisenbank Anglo Irish den Staat tatsächlich zu stehen kommt. Einem Bericht der "Irish Times" zufolge sollen es im schlimmsten Fall mehr als 30 Milliarden Euro sein. Das wären aber immer noch weniger als die 35 Milliarden Euro, die die Ratingagentur Standard & Poor's errechnet hat. Nach Einschätzung von Experten haben Cohen und Finanzminister Brian Lenihan keine andere Wahl, als Details zu den Einsparungen zu nennen. "Griechenland musste einen genauen Plan vorlegen, als es Hilfe von der EU und dem IWF erhalten hat. Der Markt braucht nun diese Transparenz von Irland", sagte Dermot O'Leary, Chefvolkswirt bei Goodbody Stockbrokers.

      Portugal erwägt Steuererhöhungen

      Im gleichfalls schwer angeschlagenen Portugal stößt die Regierung mit ihrem Sparkurs auf Widerstand: Die oppositionellen Sozialdemokraten lehnten die geplanten Steuererhöhungen am Mittwoch in Verhandlungen mit der Minderheitsregierung strikt ab. Parteichef Pedro Passos Coelho pochte stattdessen auf niedrigere Staatsausgaben. Das Kabinett sollte noch im Laufe des Tages zusammentreten. Wie Irland steht auch Portugal an den Kapitalmärkten unter Druck und muss seinen Geldgebern inzwischen deutlich mehr Rendite für seine Anleihen bezahlen als weniger verschuldete Länder.

      Der Haushalt für das kommende Jahr soll bis zum 15. Oktober vorgelegt werden und kann ohne die Opposition nicht verabschiedet werden. Die Regierung hat ihren Rücktritt angekündigt, falls sie im Parlament keine Unterstützung für ihren Sparkurs findet. (Reuters)
      Avatar
      schrieb am 29.09.10 17:17:13
      Beitrag Nr. 412 ()
      wow - die Aktie hat wohl Flügel bekommen :D
      Avatar
      schrieb am 29.09.10 17:18:54
      Beitrag Nr. 413 ()
      gibt es irgendwelche News, die aktie steigt
      Avatar
      schrieb am 29.09.10 17:39:38
      Beitrag Nr. 414 ()
      Avatar
      schrieb am 29.09.10 21:04:55
      Beitrag Nr. 415 ()
      jooh, da ist musik drin, mal schauen, ob mehr als eine technische gegenreaktion drin ist, mit etwas glück haben wir aber vielleicht den boden vorerst gesehen..
      Avatar
      schrieb am 29.09.10 22:14:59
      Beitrag Nr. 416 ()
      29.09.2010 22:04
      Dublin to pump 2-3 bln euros into Allied Irish Banks -FT

      DUBLIN, Sept 29 (Reuters) - Irish Finance Minister Brian Lenihan is expected to inject a further 2 to 3 billion euros of state capital into Allied Irish Banks, the Financial Times reported without naming any sources.

      In the text of an interview with Lenihan published on its website, the newspaper said the announcement would be made on Thursday when the government has said it would detail the final costs for winding down nationalised Anglo Irish Bank.

      Allied Irish needs to raise 7.4 billion euros of capital to meet new Irish regulatory demands by the end of 2010 and sold its 70 percent stake in Bank Zachodni to Banco Santander for 3.1 billion euros this month.

      The paper also quoted Lenihan as saying that issues around Anglo's subordinated bondholders 'will be addressed' during Thursday's announcement.

      The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

      © 2010 AFX News
      Avatar
      schrieb am 30.09.10 08:08:31
      Beitrag Nr. 417 ()
      3 Mrd = Es gab mal einen , der hätte dazu "Peanuts" gesagt!
      Avatar
      schrieb am 30.09.10 09:11:04
      Beitrag Nr. 418 ()
      30.09.2010 08:34 Irland - Rettung von Krisenbank Anglo kostet bis zu 34 Mrd. Euro
      Zugleich kündigte die Zentralbank an, dass auch die Allied Irish Banks zusätzliches Geld benötige.

      Irland hat die Kosten auf die Abwicklung der Krisenbank Anglo Irish auf bis zu 34 Mrd. Euro beziffert. Diese Summe sei im Extremfall nötig, teilte die Zentralbank am Donnerstag in Dublin mit. In ihrem Basisszenario gehen die Notenbanker von Kosten in Höhe von 29,3 Mrd. Euro aus.

      Zugleich kündigte die Zentralbank an, dass auch die Allied Irish Banks zusätzliches Geld benötige. Das Kreditinstitut müsse bis Jahresende weitere drei Milliarden Euro erhalten. Finanzminister Brian Lenihan kündigte an, dass seine Regierung wahrscheinlich eine Mehrheit an der Bank übernehme, weil es wohl nicht gelingen werde, private Geldgeber zu finden. Schon jetzt befinden sich 19 Prozent des Geldhauses in Staatsbesitz. "Die Ankündigungen von heute bringen die Sanierung des irischen Bankensystems einen bedeutenden Schritt voran", erklärte Notenbankchef Patrick Honohan. "Das ist eine Bedingung für eine stabile wirtschaftliche Erholung."
      (APA/Reuters)
      Avatar
      schrieb am 30.09.10 09:28:36
      Beitrag Nr. 419 ()
      http://www.finfacts.ie/irishfinancenews/article_1020685.shtm…

      hier aus Auszug:

      Bank of Ireland has already met the Financial Regulator’s 2010 capital requirement.

      To date the Bank has transferred €3.75bn of loan assets to NAMA at an aggregate discount of 36%. While the final tranche of NAMA loans may have a higher discount of up to 42%, the Central Bank has confirmed that the bank has sufficient capital to meet the PCAR standard to accommodate this increase.

      AIB
      The Financial Regulator determined last March that AIB must raise €7.4bn by the end of 2010 to meet its capital requirements. AIB has already announced the sale of its Polish subsidiary BZWBK, expected to generate capital of €2.5bn.

      To date AIB has transferred just over €6bn. of loan assets to NAMA at an aggregate discount of 45%. NAMA has reviewed the quality of loans still to transfer from AIB and has estimated discount to be applied to the remaining €13.5bn. of loans at 60%.

      A major factor in this increased discount for AIB has been the predominance of land bank loans, many of which were speculative investments that now have little value.

      In view of the increased NAMA discount the Central Bank has concluded that an additional amount of €3bn will be required. This brings the new total capital requirement for AIB, after deducting the capital generated on the sale of its Polish subsidiary, to €7.9bn.

      The Central Bank Governor, the Financial Regulator and the NTMA have now advised me, and AIB has acknowledged, that in the current stressed market conditions, the bank is unlikely to be able to conduct a traditional privately underwritten transaction.

      In order to afford every opportunity to AIB to raise as much as possible of the required capital from the markets and to minimise further Government support, it has been decided that this capital requirement will be met through a placing and open offer to shareholders of AIB shares to the value of €5.4bn. This transaction will be fully underwritten by the National Pension Reserve Fund Commission (NPRFC) at a fixed price of €0.50 per share and is expected to be completed in 2010 subject to shareholder and regulatory approval. If necessary, the NPRFC’s underwriting commitment will be satisfied by the conversion of up to €1.7bn. of its existing preference shares in the bank into ordinary shares along with a new cash investment for the balance of €3.7bn in ordinary shares. This transaction structure assumes the sale of AIB’s stake in M&T Bank and disposal of other assets in due course.

      In the event that the bank’s residual capital requirement is not met through asset sales by 31 March 2011, any shortfall will be met by the conversion of a proportion of the remaining €1.8bn. of preference shares. The company will issue a prospectus in relation to the open offer in due course giving details of the transaction, underwriting structure and timing. In the first instance, existing shareholders will be given the option of subscribing for the whole or part of their entitlement to new shares under the offer pro rata to their existing holdings. New institutional shareholders may also be permitted to subscribe for new shares.

      Any additional capital required will be provided by the NPRFC.

      Ireland is committed to ensuring that all additional aid to AIB will be granted in line with State aid rules. To this end, it will notify the new measures to seek State aid approval before they are implemented.

      As a consequence of these actions it is likely that the State will hold a majority shareholding in AIB.

      The high level of State support being provided to AIB, as an institution, is absolutely necessary given the central role that AIB plays in the Irish economy and in the Irish financial system. In the coming weeks I will be working closely with the Board of the Bank on behalf of the Government to ensure that AIB successfully overcomes its current challenges and develops a renewed strategic focus on the Irish market following the divestiture of its overseas operations. In conjunction with the recapitalisation, I expect there will be progressive management and board change in AIB. The bank’s board has agreed with Mr Dan O’Connor that he will step down as executive chairman within the coming weeks. The bank’s board has also agreed with the Group Managing Director, Mr Colm Doherty, the termination of his contract on existing terms. Mr Doherty will depart AIB before the end of 2010. I appreciate the commitment of Mr O’Connor and Mr Doherty in this most challenging environment as well as the support they have shown to me.
      Avatar
      schrieb am 30.09.10 09:34:41
      Beitrag Nr. 420 ()
      die katze ist aus dem sack, und der markt ist erst mal wenig begeistert..
      bin mal gespannt, wo wir heute nachmittag enden, vielleicht dämmert`s ja, dass mit den ankündigungen die gefahr einer pleite gebannt ist. persönlich hab ich kein problem, dass der staat mehrheitsaktionär wird, das erlebte ich einst bei der asien-krise mehrfach undviele bank-titel haben sich später solide entwickelt. und für den irischen steuerzahler ist das eine gute lösung, wenn sich der statt in drei jahren mit einem fetten gewinn aus AIB zurückzieht...
      3 Antworten
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      schrieb am 30.09.10 09:38:47
      Beitrag Nr. 421 ()
      Antwort auf Beitrag Nr.: 40.237.494 von jacomo1 am 30.09.10 09:34:41This transaction will be fully underwritten by the National Pension Reserve Fund Commission (NPRFC) at a fixed price of €0.50 per share and is expected to be completed in 2010 subject to shareholder and regulatory approval.

      Das müsste doch den Kurs zumindest in Richtung 0,50€ bald wieder stützen, oder? :rolleyes:
      2 Antworten
      Avatar
      schrieb am 30.09.10 10:02:00
      Beitrag Nr. 422 ()
      die kapitalerhöhung ist schon eine hausnummer!


      MARKT/AIB brechen wegen Verstaatlichung ein
      30.09.2010
      09:43
      DJN

      Allied Irish Bank brechen im frühen Handel an der Börse in Dublin um 20,7% auf
      0,44 EUR ein. Die irische Regulierungsbehörde hat am Morgen eine Schätzung des
      Kapitalbedarfs der Bank veröffentlicht. AIB muss demnach das Kapital um 5,4 Mrd
      EUR aufstocken zum Fixpreis von 0,50 EUR je Aktie. Der staatliche Pensionsfonds
      National Pensions Reserve Fund soll die noch bis zum Jahresende abzuschließende
      Aufstockung komplett zeichnen.

      Ein Händler weist darauf hin, dass die AIB das Kapital damit um mehr als das
      Zehnfache der aktuellen Marktkapitalisierung von rund 470 Mio EUR erhöhen muss.

      "Die Nachricht lastet jedoch meiner Ansicht nach bislang nicht auf dem
      Bankensektor, auch weil die Summe von 5,4 Mrd EUR als für das Bankensystem
      verkraftbar erscheint", sagt ein Händler.

      DJG/bek/raz
      (END) Dow Jones Newswires

      September 30, 2010 03:43 ET (07:43 GMT)
      Dow Jones & Company, Inc.2010
      Avatar
      schrieb am 30.09.10 12:02:17
      Beitrag Nr. 423 ()
      Was für ein Schnappi:laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh:
      Avatar
      schrieb am 30.09.10 12:46:36
      Beitrag Nr. 424 ()
      Antwort auf Beitrag Nr.: 40.237.527 von Tom06 am 30.09.10 09:38:47Bin jetzt auch wieder rein, klare Kaufkurse (fuer mich natuerlich)
      1 Antwort
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      schrieb am 30.09.10 13:01:40
      Beitrag Nr. 425 ()
      Antwort auf Beitrag Nr.: 40.239.319 von ooy am 30.09.10 12:46:36Schmeißt sie wegen paar cent nicht weg:lick::lick:
      Avatar
      schrieb am 30.09.10 13:05:24
      Beitrag Nr. 426 ()
      zur ke:die jungen aktien kommen für 0,50€ aufn markt und jetzt kann man sie für 0,40€ schießen? was ist das für eine logik? :confused:
      2 Antworten
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      schrieb am 30.09.10 13:13:57
      Beitrag Nr. 427 ()
      Antwort auf Beitrag Nr.: 40.239.467 von mawasch am 30.09.10 13:05:24Die Angst vor Verwässerung und drohender Pleiten + gesetzte SL`s alles klar;)
      Avatar
      schrieb am 30.09.10 13:21:14
      Beitrag Nr. 428 ()
      Antwort auf Beitrag Nr.: 40.239.467 von mawasch am 30.09.10 13:05:24Die kommen nicht auf den Markt, sondern die staatliche Pensionskasse muss zugreifen. Haette irgendein Privatinvestor zum Preis den der Bund fuer die Commerzbank bezahlt hat zugegriffen?
      Avatar
      schrieb am 30.09.10 13:28:16
      Beitrag Nr. 429 ()
      Das wird noch ein paar Tage dauern, die Fonds entleeren ihre Bestände,

      Tiefststände werden noch öfters getestet,

      so bei 0,30€ kann man mal ne Lunte legen ...
      Avatar
      schrieb am 30.09.10 13:38:12
      Beitrag Nr. 430 ()
      ich denke auch, die tiefstände haben wir noch nicht gesehen.
      4 Antworten
      Avatar
      schrieb am 30.09.10 13:49:18
      Beitrag Nr. 431 ()
      Antwort auf Beitrag Nr.: 40.239.717 von herwoe am 30.09.10 13:38:12wegen drei Milliarden Mehrbedarf? Die Fonds werfen garantiert nicht! Das Teil geht def. heute noch Richtung 0,50€.
      3 Antworten
      Avatar
      schrieb am 30.09.10 13:56:03
      Beitrag Nr. 432 ()
      Antwort auf Beitrag Nr.: 40.239.819 von RS820 am 30.09.10 13:49:18Hier die Meinung des "Aktionärs"


      Allied Irish: Staat übernimmt die Mehrheit - Aktie bricht ein
      Thorsten Küfner

      Irland greift seinen maroden Banken erneut unter die Arme. Die bereits teilverstaatlichte Allied Irish erhält im Zuge dessen von der Regierung knapp drei Milliarden Euro, wodurch die Staatsbeteiligung auf knapp 90 Prozent ansteigt. Die Aktie bricht deutlich ein.
      Um seinen Bankensektor zu stabilisieren, pumpt die irische Regierung weitere Milliarden in das System. Die Allied Irish Banks (AIB) erhalten demnach bis zu drei Milliarden Euro. Dies geschieht im Zuge einer Kapitalerhöhung, bei der der Staat junge AIB-Titel für jeweils 0,50 Euro pro Stück zeichnet. Dadurch steigt der Staatsanteil an der Großbank auf rund 90 Prozent an. Die Aktie bricht daraufhin dramatisch ein.:eek:

      Logischer Schritt

      Wie bereits vom AKTIONÄR erwartet (siehe unter: Anglo vor dem Aus - was geschieht mit Allied Irish?) kann Allied nur mit Hilfe des Staates das notwendige Kapital aufbringen, um die regulatorischen Anforderungen zu erfüllen. Zwar hatte der Verkauf der polnischen Bank Zachodny an die Banco Santander Allied einen hohen Gewinn eingebracht, für die Beteiligung an der US-Bank M&T sowie für die britischen AIB-Filialen gab es allerdings offenbar keine zufriedenstellenden Angebote. Daher ist der Schritt des Staates sinnvoll, um zu verhindern, dass AIB sein Tafelsilber zum Spottpreis verkauft und sich so langfristig erheblich schaden würde.



      Ausgestoppt!

      Die AIB-Aktie ist bereits im Zuge der Rating-Abstufungen Irlands erheblich unter Druck geraten und unter den Stoppkurs des AKTIONÄRs von 0,59 Euro gefallen. Anleger sollten zunächst nicht in das fallende Messer greifen. Erst nach einer Bodenbildung können sehr mutige Anleger wieder ein Engagement wagen und darauf hoffen, dass sich AIB (und die Aktie des Konzerns) mit der Unterstützung des Staates ähnlich entwickelt wie die britische RBS, die sich nach der Mehrheitsübernahme der Regierung gefangen hat, wieder schwarze Zahlen schreibt und sich seit dem Tief fast verfünffacht hat. Das Potenzial hierfür wäre langfristig auch bei der AIB vorhanden.;)
      2 Antworten
      Avatar
      schrieb am 30.09.10 14:02:31
      Beitrag Nr. 433 ()
      Antwort auf Beitrag Nr.: 40.239.880 von Carola11 am 30.09.10 13:56:03und genau das ist der entscheidente Punkt:
      ...
      für die Beteiligung an der US-Bank M&T sowie für die britischen AIB-Filialen gab es allerdings offenbar keine zufriedenstellenden Angebote. Daher ist der Schritt des Staates sinnvoll, um zu verhindern, dass AIB sein Tafelsilber zum Spottpreis verkauft und sich so langfristig erheblich schaden würde...

      der M&T-anteil alleine sollte die 3 Milliarden schon locker wert sein!
      1 Antwort
      Avatar
      schrieb am 30.09.10 14:04:32
      Beitrag Nr. 434 ()
      warum sollten die tiefstände noch nicht erreicht sein? es ist alles gesagt bzw.geschrieben oder?vater staat hilft aber auch nur weil er potential sieht in der bank!!!!! die kurse für die ke stehen auch fest!!! was kann noch passiren? im schlimmsten fall die vollverstaatlichung......:confused:
      5 Antworten
      Avatar
      schrieb am 30.09.10 14:07:09
      Beitrag Nr. 435 ()
      Antwort auf Beitrag Nr.: 40.239.945 von RS820 am 30.09.10 14:02:31genau das sehe ich auch so,die haben ja auch nichts zu verschenken!!!!! den missstand bei aib auszunutzen lässt der staat nicht zu solange es im rahmen bleibt!!!!
      Avatar
      schrieb am 30.09.10 14:07:34
      Beitrag Nr. 436 ()
      Antwort auf Beitrag Nr.: 40.239.968 von mawasch am 30.09.10 14:04:32vater staaat hilft nicht weil er potenzial in der bank sieht, sondern um eine noch grössere katasrophe für irland zu vermeiden.
      4 Antworten
      Avatar
      schrieb am 30.09.10 14:07:54
      Beitrag Nr. 437 ()
      bei der RBS war es doch nicht viel anders
      Avatar
      schrieb am 30.09.10 14:08:46
      Beitrag Nr. 438 ()
      Reizen würde mich die Bude zu diesen Kursen auch,aber wer weiß was da noch an ungemach droht.:confused:
      Avatar
      schrieb am 30.09.10 14:11:16
      Beitrag Nr. 439 ()
      Antwort auf Beitrag Nr.: 40.239.991 von herwoe am 30.09.10 14:07:34nee ist klar Sie schreibt auch nur Gewinn:D schon was von Basel gehört?
      1 Antwort
      Avatar
      schrieb am 30.09.10 14:12:35
      Beitrag Nr. 440 ()
      Antwort auf Beitrag Nr.: 40.239.991 von herwoe am 30.09.10 14:07:34wenn es so wäre,warum wird nicht sofort und ganz verstaatlicht,wenn es so aussichtslos ist?
      1 Antwort
      Avatar
      schrieb am 30.09.10 14:15:14
      Beitrag Nr. 441 ()
      L*S schon bei 0,43€:D
      Avatar
      schrieb am 30.09.10 14:20:28
      Beitrag Nr. 442 ()
      Antwort auf Beitrag Nr.: 40.240.034 von mawasch am 30.09.10 14:12:35das wäre genauso schlimm für irland, da ist eine ke dochwesentlich eleganter für eine wirtschaftsnation.
      Avatar
      schrieb am 30.09.10 14:28:23
      Beitrag Nr. 443 ()
      aufjedenfall wird jetzt erst mal ruhe einkehren und dann wird man weitersehen.
      4 Antworten
      Avatar
      schrieb am 01.10.10 10:41:05
      Beitrag Nr. 444 ()
      Antwort auf Beitrag Nr.: 40.240.176 von herwoe am 30.09.10 14:28:23auf jeden Fall konnte man hier gestern nachmittag durch Trading schön verdienen :)
      3 Antworten
      Avatar
      schrieb am 01.10.10 12:28:08
      Beitrag Nr. 445 ()
      Antwort auf Beitrag Nr.: 40.246.807 von Larry_1 am 01.10.10 10:41:05wenn du bis heute nachmittag wartest, dann kriegst du auch nochmal unter 0,40
      2 Antworten
      Avatar
      schrieb am 01.10.10 12:41:17
      Beitrag Nr. 446 ()
      Antwort auf Beitrag Nr.: 40.247.663 von herwoe am 01.10.10 12:28:08Glaube ich nicht, wer noch nicht drin ist, sollte jetzt rein, nur meine Meinung...
      Avatar
      schrieb am 01.10.10 12:44:31
      Beitrag Nr. 447 ()
      Antwort auf Beitrag Nr.: 40.247.663 von herwoe am 01.10.10 12:28:08ich glaube nächste Woche gibt es welche für 0,35 € je nach Stimmungslage am WE
      es kann aber auch über 0,5 € sein
      bis auf weiteres ein Lotteriespiel:(
      Avatar
      schrieb am 01.10.10 14:02:56
      Beitrag Nr. 448 ()
      Gestern liess sich hier fix der ein oder andere Euro machen.
      Mittelfristig wird das eher nix: Der Laden war am Mittwoch knapp ueber 500M wert, an der Boerse. Jetzt werden 3500M reingepumpt, durch den Staat. Dafuer kriegt der Staat zu den 20% die ihm eh schon gehoerten nochmal 70% dazu. Davon auszugehen, dass der Preis der jungen Aktien irgendeine marktwirtschaftliche Bedeutung haette ist naiv. Wuerd mich sehr wundern wenn man hier nicht deutlich unter 35 Cent reinkaeme. Von ein paar kurzfristigen Schwankungen abgesehen sollte man dann aber viel Zeit mitbringen.
      Avatar
      schrieb am 01.10.10 14:10:17
      Beitrag Nr. 449 ()
      das problem ist nur, die boerse macht was sie will und nicht was loisch ist.
      Avatar
      schrieb am 01.10.10 14:14:33
      Beitrag Nr. 450 ()
      … keiner kennt die Zukunft … es gibt viele Vermutungen … eine ist sicherlich auch, dass sich der Marktpreis, vorerst den (vermutlichen) Gebotspreis von 0,50 anpasst … wäre ja nicht das erste Mal …
      Statt des Verkaufs des Tafelsilbers kommt jetzt der Staat … irgendwann geht er auch wieder … und er dann möchte er einen hohen Aktienwert sehen …
      1 Antwort
      Avatar
      schrieb am 01.10.10 14:17:10
      Beitrag Nr. 451 ()
      die aib ist in keinster weise mit dir citi zu vergleichen, deshalb sieht die zukunft so oder so düster aus !
      Avatar
      schrieb am 01.10.10 14:44:56
      Beitrag Nr. 452 ()
      Antwort auf Beitrag Nr.: 40.240.024 von RS820 am 30.09.10 14:11:16Basel,,,? die haben doch gegen Bayern 1-2 verloren:laugh::laugh::laugh:
      Avatar
      schrieb am 01.10.10 14:55:13
      Beitrag Nr. 453 ()
      Antwort auf Beitrag Nr.: 40.248.595 von Onkel-Max am 01.10.10 14:14:33Das echte Tafelsilber(zachodny) ist weg. Da standen die Bieter Schlange. Fuer MT gabs keine interessanten Gebote, fuers UK business wie man hoerte und las gar keine. Aus gutem Grund darf man vermuten, denn das duerfte aehnlich verseucht sein wie das lokale Geschaeft.
      Avatar
      schrieb am 04.10.10 08:51:13
      Beitrag Nr. 454 ()
      01.10.2010 14:41
      SocGen senkt Allied Irish Banks auf 'Sell' - Ziel 0,25 Euro

      Die Societe Generale (ScoGen) hat Allied Irish Banks von "Buy" auf "Sell" abgestuft und das Kursziel von 1,40 auf 0,25 Euro gesenkt. Der Finanzkonzern benötige wegen hoher Abschläge auf faule Immobilienkredite wesentlich mehr frisches Kapital als von der irischen Regulierungsbehörde noch im März angekündigt, schrieb Analyst Omar Keenan in einer Studie vom Freitag. Zudem dürften geplante Verkäufe von Unternehmensteilen nun nicht so zügig vorankommen wie erwartet.

      AFA0049 2010-10-01/14:39

      http://www.finanznachrichten.de/nachrichten-2010-10/18122513…
      1 Antwort
      Avatar
      schrieb am 04.10.10 08:52:18
      Beitrag Nr. 455 ()
      02.10.2010 00:03
      Fitch cuts AIB sub debt, sees restructuring risk


      http://www.finanznachrichten.de/nachrichten-2010-10/18127067…
      Avatar
      schrieb am 04.10.10 08:56:48
      Beitrag Nr. 456 ()
      Antwort auf Beitrag Nr.: 40.257.438 von Aktientitan am 04.10.10 08:51:13tag zusammen,

      bin mal gespannt, wie weit die societe generale nun wieder "behind the curve"
      ist. hoffentlich entpuppt sich das neu ausgegebene kursziel von 0,25 als ein genauso schlechter witz wie die vorangegangenen 1,40..
      Avatar
      schrieb am 04.10.10 08:57:26
      Beitrag Nr. 457 ()
      Die ÜBERSCHRIFT sagt alles...denke in den nächsten Tagen wird es einen MASSIVEN Abverkauf geben !

      D. Ziel v. SocGen, 0,25 EURO ist dann sehr NAH !

      Shane Ross: AIB follows the Anglo road


      Sunday October 03 2010

      'The bank is dead. Long live the bank.'

      LAST week they came to bury Anglo. And they came to rescue AIB. Brian Lenihan's insistence that if he had allowed Anglo to go to the wall it would have torpedoed AIB, began to ring true.

      The accepted view in government circles was that abandoning Anglo would have toppled Ireland's banking dominos; that AIB was particularly vulnerable as it shared dodgy developer clients; that the liquidation of one could bankrupt the other; that they shared an addiction to property. What was not so apparent was that they shared a flawed culture. The big news last week was not Anglo at all.

      The €28bn to €29bn needed to save Anglo had been well flagged. Even the worst-case figure -- the €34.3bn -- had been anticipated by Standard & Poor's ratings agency.

      No, the depressing bombshell was that AIB, the biggest bank in Ireland, needed yet more life support.

      It is an indication of the depth of the spinning that has surrounded the whole banking story that Anglo was always the whipping boy for everyone's ills. Anglo was the worst offender, but the disease was well embedded in the bodies of the other banks. Especially AIB.

      When the four big bankers called round to see Lenihan and Brian Cowen on that historic September evening two years ago, the message was clear: Anglo was the rogue bank. If Anglo sank so might AIB and Bank of Ireland, but it was all Anglo's fault.

      Seanie had been hawking his dying bank round town seeking a mug buyer. The big bankers turned him down disdainfully. The impression conveyed at the time was that if it were not for Anglo's cowboy antics the system would be healthy. They were pretty sniffy about Anglo.

      The nation bought into the message. Rumours that the mighty AIB was in trouble were greeted with disbelief.

      But the rumours were on the button.

      Last week we received the final confirmation. The headline grabbed by the global media was the big figure from Anglo, but the darker news was that AIB -- the biggest bank in Ireland-- needed another €3bn.

      Bank of Ireland, no saints themselves, sat smugly observing the deep doo-doo of their main rival. Last Thursday, AIB and Anglo were bracketed together in the same camp, both now nationalised. Bank of Ireland was out of the woods, its funding completed. It had even managed to raise its capital requirement earlier this year, when exploiting a rare window of optimism. It had pulled off a coup, a rights issue from its existing shareholders had somehow attracted the necessary support.

      Not so for AIB. It is unable to stand on its own feet. A rights issue is a pipe dream. On Thursday when Lenihan announced that AIB was to receive yet another €3bn, the stock market took fright. Its shares initially fell 28 per cent before recovering for an 8 per cent loss, while Bank of Ireland's rose 9 per cent to 62 .

      It takes a lot to force the two major banks to move in opposite directions. It happened on Thursday when the market gave AIB the thumbs down.

      It is now capitalised at €700m against Bank of Ireland's €3bn. Not long ago the positions were reversed, but that was when everyone believed that AIB and BoI were almost equal offenders in the property madness.

      Personally, I bank with AIB and hold shares in Bank of Ireland, so I have suffered in equal proportions at the hands of both -- but over the last three decades, AIB has consistently been a bigger sinner than BoI. And AIB has never never learned its lesson.

      AIB has flirted with death several times. AIB was a rogue banker long before we had heard of Anglo.

      It was AIB that nearly sank the entire banking system back in 1984 when its subsidiary, Insurance Corporation of Ireland, indulged in such reckless activities that AIB was forced to throw itself at the mercy of Garret FitzGerald's government. It was rescued. A few years later, it was AIB -- not Anglo -- that led the field of villains in the Dirt scandal and was forced to pay over €90m in penalties to the Revenue Commissioners.

      In that little adventure, it was a whistleblower, Tony Spollen, that outed AIB over its extraordinary enthusiasm for allowing its clients to evade tax. Spollen left AIB against his will. Today he is rehabilitated, his talents recognised elsewhere.

      It was AIB that overcharged customers on a huge scale on both foreign exchange and other transactions, only to be challenged by its internal auditor, Eugene McErlean.

      He suffered the same fate as Spollen and has only recently been acknowledged by AIB bosses as a rare beacon of integrity. McErlean's and Spollen's careers were ended by people who saw them as obstacles to the unimpeded progress of the wayward bank.

      It was AIB that spawned rogue trader John Rusnak, who, again, nearly sank the entire bank.

      AIB was the bank with a series of near-death experiences. It was AIB who lent recklessly in the property market in an effort to ape Anglo. It was AIB, among others, that disguised the extent of its bad loans in the balance sheet.

      And it was AIB that remained in denial for the longest. Its chief executive Eugene Sheehy resisted resignation for months after Bank of Ireland's Brian Goggin had walked the plank.

      History is painting a clear pattern. An untouchable institution had been bailed out by the government in 1984 and was relaunched, trusted and unpoliced, to plunder the financial jungle.

      Somehow, they were never fined for overcharging. No member of staff was ever sacked or charged after the Dirt scandal.

      AIB bankers just pleaded ignorance and headed gung ho towards the next atrocity. They were indulged, too powerful to punish.

      Until last Thursday, the survival of the current AIB board had been remarkable.

      Directors at the time of the property crash are still in situ. These include Mr Dyno-rod Kieran Crowley and current managing director Colm Doherty.

      Last week, Doherty's short stay at the helm came to an early end. Brian Lenihan announced that both Doherty and his chairman, Dan O'Connor, would soon be retiring. This was a strange u-turn by a department that only reluctantly agreed to Doherty's appointment last November.

      It would be fascinating to know the reason for the minister's change of stance on Doherty. It is nevertheless welcome. Doherty, an AIB insider, was the candidate of the old board. They had refused to withdraw his name, eyeballing the minister for months before he blinked.

      But Doherty and O'Connor were not the only problem. History suggests that the AIB edifice needs cleansing, the top brass need filleting.

      After the entire board is removed, it will be time to attack the culture.

      AIB and the other banks pointed the finger at Anglo. They were right. But while Anglo was a one-trick pony, AIB was a serial offender. That is why they are now both in state ownership.

      It was not a single bank that nearly sank the State.

      'Wasters' by Shane Ross and Nick Webb, published by Penguin, is in all good bookshops priced €17.99


      http://www.independent.ie/opinion/columnists/shane-ross/shan…
      Avatar
      schrieb am 04.10.10 08:59:15
      Beitrag Nr. 458 ()
      Expert team to oversee changes at AIB



      By Emmet Oliver Deputy Business Editor

      Monday October 04 2010

      The National Treasury Management Agency (NTMA) has sent a team of leading advisers into AIB to help the bank get through a series of challenges as it heads towards effective nationalisation.

      The experts from PricewaterhouseCoopers (PwC) were being appointed to the bank to support the existing management and to deal with a series of business issues, said a NTMA spokesman yesterday.

      He denied speculation the team would effectively be running the bank or replacing managing director Colm Doherty and chairman Dan O'Connor, who were due to step down within months.

      PwC has had a significant role in the banking crisis by assessing the loan books of several banks on behalf the State.

      The PwC team will be small, maybe up to three people, and reflects the level of contact going on between the NTMA and AIB. Last week, the Finance Minister Brian Lenihan admitted the State would effectively end up owning 90pc of the lender, although it will retain its stock exchange listing.

      Capital

      The bank is due to raise €10.4bn in fresh capital, and has only released €2.5bn so far through the sale of its Polish operations. Next up is the sale of its stake in US lender M&T, with the disposal of its British assets to take place next year.

      The Government is going to underwrite a share placing and rights issue that few people expect to be successful, forcing it, in effect, to take over the bank, Ireland's second largest.

      The Government already has €3.5bn of preference shares in the bank and can convert these to ordinary shares. This means the State is no longer guaranteed a dividend payout, but it can sell its holding back into the market in a few years' time, ideally recouping its investment.

      Last week, the markets were shocked to hear AIB needed €3bn of extra capital after the Financial Regulator carried out a Prudential Capital Assessment Review. Higher-than-expected discounts on AIB loans by NAMA was the chief reason.

      - Emmet Oliver Deputy Business Editor

      Irish Independent
      5 Antworten
      Avatar
      schrieb am 04.10.10 09:53:57
      Beitrag Nr. 459 ()
      Antwort auf Beitrag Nr.: 40.257.470 von Aktientitan am 04.10.10 08:59:15Wird laufen wie bei RBS, Citibank oder BoA.
      Bei der Citibank ist der Staat gerade dick am eincashen, in ein paar Jahren wird es der irische Staat gleichtun...
      4 Antworten
      Avatar
      schrieb am 04.10.10 12:06:35
      Beitrag Nr. 460 ()
      Antwort auf Beitrag Nr.: 40.257.760 von ooy am 04.10.10 09:53:57würde dann bedeuten, dass sie sehr stark an steigenden Kursen interessiert sind ;)
      3 Antworten
      Avatar
      schrieb am 04.10.10 12:46:54
      Beitrag Nr. 461 ()
      Antwort auf Beitrag Nr.: 40.258.583 von Tom06 am 04.10.10 12:06:35So ist es...
      Avatar
      schrieb am 04.10.10 15:37:44
      Beitrag Nr. 462 ()
      Antwort auf Beitrag Nr.: 40.258.583 von Tom06 am 04.10.10 12:06:35Die sind daran interessiert, dass der Laden ueberlebt. Und gewiss ist das noch lange nicht. Realistisch erwartet glaube ich niemand, dass der Staat die Kohle, die in AIB gepumpt wurde jemals voll wiedersieht.
      Man kann hier zocken aber ein serioeses Investment sieht anders aus.
      1 Antwort
      Avatar
      schrieb am 06.10.10 10:02:27
      Beitrag Nr. 463 ()
      AIB will sein Anteil an M&T verkaufen. Dies sollte etwa 2 Mia. geben. Ist es nicht so, dass durch diesen Verkauf AIB bis ende 2010 genügend Kapital zusammen bring ohne dass der Staat 3.5 Mia reinstecken muss?
      1 Antwort
      Avatar
      schrieb am 06.10.10 11:26:19
      Beitrag Nr. 464 ()
      Antwort auf Beitrag Nr.: 40.271.726 von Gadaffi am 06.10.10 10:02:27schön wär`s, ist aber leider nicht so
      es fehlen ein paar milliardchen....
      Avatar
      schrieb am 12.10.10 07:55:02
      Beitrag Nr. 465 ()
      Allied Irish Banks, p.l.c.
      AIB - Proposed Disposal of the M&T Sharehol...






      DUBLIN, Ireland (11th October 2010) - Allied Irish Banks, p.l.c. ("AIB")
      [NYSE:AIB] announces that it is convening an Extraordinary General Meeting to be
      held at 11.00 a.m. on 1 November 2010 (the "EGM") to consider and, if thought
      fit, pass a resolution to approve the proposed disposal of its approximately
      22.4% shareholding (the "Shareholding") in M&T Bank Corporation ("M&T").

      The Circular, including the EGM Notice convening an EGM of AIB to be held at
      11.00 a.m. on 1 November 2010 at Bankcentre, Ballsbridge, Dublin 4, will be
      posted to shareholders today.


      A copy of the Circular will shortly be available to download from the Company's
      website:www.aibgroup.com/investorrelations and via the National Storage
      Mechanism, which is located at

      http://www.hemscott.com/nsm.do.
      A copy of the Circular will also shortly be available for inspection at:

      Company Announcements Office,

      Irish Stock Exchange,

      28 Anglesea Street,

      Dublin 2,

      Ireland.

      Tel: + 353 1 6174200.



      Notes

      1. converted at a rate of US$1.3856 to €1

      Additional Information

      This is not a circular or equivalent document. Please read the whole Circular,
      in particular the risk factors set out in the Circular. You should not rely on
      any summary information as set out in this announcement.

      This announcement does not constitute an offer to purchase or a solicitation of
      an offer to sell securities, nor shall there be any sales of these securities in
      any jurisdiction in which such offer, solicitation or sale would be unlawful
      prior to registration or qualification under the securities law of such
      jurisdiction. The distribution of this announcement in jurisdictions other than
      Ireland, the United Kingdom and the United States may be restricted by law and
      therefore persons into whose possession this announcement comes should inform
      themselves about, and observe, such restrictions. Any failure to comply with the
      restrictions may constitute a violation of the securities laws of any such
      jurisdiction.

      For further information, please contact:

      Alan Kelly Catherine Burke

      General Manager, Corporate Services Head of Corporate Relations and
      Communications

      AIB Group AIB Group

      Dublin Dublin

      Tel: +353-1-6412162 Tel: +353-1-6413894

      email: alan.j.kelly@aib.ie email: catherine.e.burke@aib.ie



      The contents of this announcement should not be construed as legal, business,
      financial, tax, investment or other professional advice.

      Morgan Stanley & Co. Limited and AIB Corporate Finance Limited ("AIB Corporate
      Finance") are acting as joint financial advisers to AIB in relation to AIB's
      disposal of its M&T shares. In addition, Morgan Stanley & Co. Limited and
      Morgan Stanley & Co. International plc are acting as sponsor and corporate
      broker, respectively, in connection with the disposal.

      Morgan Stanley & Co. Limited and Morgan Stanley & Co. International plc
      (together, "Morgan Stanley") are acting in the aforementioned capacities for AIB
      and no one else in connection with the disposal and will not regard any other
      person (whether or not a recipient of this announcement) as Morgan Stanley's
      client in relation to the disposal and will not be responsible to anyone other
      than AIB for providing the protections afforded to clients of Morgan Stanley or
      for providing advice in relation to the disposal or any other matter referred to
      in this announcement.

      AIB Corporate Finance is acting exclusively for AIB and no one else in
      connection with the disposal and will not regard any other person (whether or
      not a recipient of this announcement) as its client in relation to the disposal
      and will not be responsible to anyone other than AIB for providing the
      protections afforded to clients of AIB Corporate Finance or for providing advice
      in relation to the disposal or any other matter referred to in this
      announcement.

      Apart from the responsibilities and liabilities, if any, which may be imposed on
      Morgan Stanley or AIB Corporate Finance by the Listing Rules, neither Morgan
      Stanley nor AIB Corporate Finance accepts any responsibility whatsoever and
      makes no representation or warranty, express or implied, for the contents of
      this announcement, including its accuracy, completeness or verification or for
      any other statement made or purported to be made by AIB, or on AIB's behalf, or
      by Morgan Stanley or AIB Corporate Finance, or on Morgan Stanley's or AIB
      Corporate Finance's behalf, in connection with AIB, the Shareholding, M&T or the
      disposal, and nothing in this announcement is or shall be relied upon as a
      promise or representation in this respect, whether as to the past or future.
      Each of Morgan Stanley and AIB Corporate Finance accordingly disclaims to the
      fullest extent permitted by law and under the Listing Rules all and any
      responsibility and liability, whether arising in tort, contract or otherwise,
      which it might otherwise have in respect of this document and any such
      statement.

      None of the Minister for Finance, the Department of Finance, the Irish
      Government, the National Treasury Management Agency, the National Pensions
      Reserve Fund Commission or any person controlled by or controlling any such
      person, or any entity or agency of or related to the Irish State, or any
      director, officer, official, employee or adviser of any such person (each such
      person, a "Relevant Person") accepts any responsibility whatsoever or makes any
      representation or warranty, express or implied, for the contents of this
      announcement, including its accuracy, completeness or verification or for any
      other statement made or purported to be made by AIB, or on AIB's behalf, or by
      Morgan Stanley or AIB Corporate Finance, or on Morgan Stanley's or AIB Corporate
      Finance's behalf, or by any Relevant Person or on any Relevant Person's behalf
      in connection with AIB, the Shareholding, M&T or the disposal, and nothing in
      this announcement is or shall be relied upon as a promise or representation in
      this respect, whether as to the past or future. Each Relevant Person accordingly
      disclaims to the fullest extent permitted by law and under the Listing Rules all
      and any responsibility and liability, whether arising in tort, contract or
      otherwise, which it might otherwise have in respect of this document and any
      such statement.

      This announcement contains "forward-looking statements", within the meaning of
      Section 27A of the U.S. Securities Act of 1933 (as amended) and Section 21E of
      the U.S. Securities Exchange Act of 1934 (as amended) regarding the belief or
      current expectations of AIB, AIB's Directors and other members of its senior
      management about AIB's business, and the transaction described in this
      announcement. Generally, words such as "may", "could", "will", "expect",
      "intend", "estimate", anticipate", "believe", "plan", "seek", "continue" or
      similar expressions identify forward-looking statements. All statements other
      than statements of historical fact are, or may be deemed to be, forward-looking
      statements. These forward-looking statements are not guarantees of future
      performance. Rather, they are based on current views and assumptions and involve
      known and unknown risks, uncertainties and other factors, many of which are
      outside the control of AIB and are difficult to predict, that may cause actual
      results to differ materially from any future results or developments expressed
      or implied from the forward-looking statements.

      The forward-looking statements speak only as of the date of this announcement.
      Except as required by the Financial Regulator, the Irish Stock Exchange, the
      FSA, the London Stock Exchange plc or applicable law, AIB does not have any
      obligation to update or revise publicly any forward-looking statement, whether
      as a result of new information, further events or otherwise. AIB expressly
      disclaims any obligation or undertaking to publicly release any updates or
      revisions to any forward-looking statement contained in this announcement or
      incorporated by reference to reflect any change in AIB's expectations with
      regard thereto or any change in events, conditions or circumstances on which any
      such statement is based.



      [HUG#1450939]








      This announcement is distributed by Thomson Reuters on behalf of
      Thomson Reuters clients. The owner of this announcement warrants that:
      (i) the releases contained herein are protected by copyright and
      other applicable laws; and
      (ii) they are solely responsible for the content, accuracy and
      originality of the information contained therein.

      Source: Allied Irish Banks, p.l.c. via Thomson Reuters ONE
      Avatar
      schrieb am 12.10.10 11:18:54
      Beitrag Nr. 466 ()
      habe kauforder zu 0,18 cet gegeben. langsam werden wir hinkommen. totalverlust durch totale verstaalichung nehme ich hin
      3 Antworten
      Avatar
      schrieb am 12.10.10 14:23:39
      Beitrag Nr. 467 ()
      Antwort auf Beitrag Nr.: 40.303.837 von gauner1 am 12.10.10 11:18:54...ich denke eher wird testen bald die 0,50 cent, als deine gewünschten 0,18.
      Diese Aktie ist z.Zt. halt nichts für schwache Nerven, da den Aktionären immer
      nur stückenweise die "Wahrheit":confused: suggeriert und es ständig neue Entwicklungen
      gibt.;)












      Keine Kauf- bzw. Verkaufsempfehlung, jeder in seiner Verantwortung!
      2 Antworten
      Avatar
      schrieb am 12.10.10 17:41:41
      Beitrag Nr. 468 ()
      Antwort auf Beitrag Nr.: 40.259.734 von KingofCurrywurst am 04.10.10 15:37:44... irgendwann will der Staat seine Aktienpakte verkaufen ... und dann will er gute Preise sehen!

      ... und die irische Wirtschaft springt bestimmt schneller an, als die griechische ...
      Vgl. hierzu auch: Irish Independent
      http://www.independent.ie/business/irish/leading-uk-stockbro…
      Avatar
      schrieb am 13.10.10 07:58:35
      Beitrag Nr. 469 ()
      AIB warning on negative impact of more downgrades



      By Laura Noonan

      Wednesday October 13 2010

      AIB has warned that any further downgrades from ratings agency could have a "materially negative impact" on the bank's financial and funding position.

      The warning is included amongst a litany of "risk" factors outlined in a detailed prospectus on the bank's plans to sell its 22pc share in US-based M&T.

      The document also confirms that AIB's trading conditions have become "increasingly challenging" in recent months and that the bank expects a decision on its restructuring plan by "late 2010/early 2011".

      The risk factors are the most prominent feature of the prospectus, reflecting the bank's legal obligation to make its shareholders aware of any potential adverse developments.

      AIB and other Irish banks have been hit with a raft of downgrades in recent months, with ratings agencies citing difficult banking conditions coupled with weakness in the Irish sovereign's finances.

      "Any further downgrades, or delay in upgrades, in the credit ratings of the Continuing Group (AIB) could have a materially negative impact on the volume and pricing of its funding and its financial position," the prospectus warns.

      AIB says that while it has issued term funding of €6.6bn in 2010, most of that debt is for two to five years, with the bank already suffering from "limited access" to longer-term borrowings.

      AIB also warns that further downgrades could "weaken" the bank's "competitive position in certain markets" and could lead to "significant withdrawals of corporate or retail deposits".

      Beyond downgrades, AIB cautions that plans to downsize the bank's operations could trigger "industrial action or other labour conflicts including strikes".

      The bank was believed to be poised to shed some 1,000 jobs before the dramatic developments at the end of September when the bank was effectively nationalised and its two top managers agreed to step aside.

      Trade union sources last night said that the "momentum" had gone out of job cut talks in recent weeks amid uncertainty around AIB's future management.

      "We don't have any plan to ballot members in AIB at this time," said a spokesman for bankers' union, the IBOA.

      - Laura Noonan

      Irish Independent


      http://www.independent.ie/business/irish/aib-warning-on-nega…
      1 Antwort
      Avatar
      schrieb am 13.10.10 15:56:42
      Beitrag Nr. 470 ()
      geht hier etwa was ? ;)
      Avatar
      schrieb am 13.10.10 17:13:23
      Beitrag Nr. 471 ()
      Antwort auf Beitrag Nr.: 40.309.810 von Aktientitan am 13.10.10 07:58:35Muessen die schreiben, steht bei vielen Gesellschaften im Kleingedruckten...
      Avatar
      schrieb am 19.10.10 21:41:15
      Beitrag Nr. 472 ()
      Antwort auf Beitrag Nr.: 40.305.216 von Carola11 am 12.10.10 14:23:3918 cent,der macht seinem namen alle ehre ;)
      Avatar
      schrieb am 22.10.10 16:33:23
      Beitrag Nr. 473 ()
      Bin jetzt auch mal mit 10.000 Stk rein. Mal sehen...

      Hab außerdem noch 4.000 Citi und 1000 NBG :-) Yeah!!!
      2 Antworten
      Avatar
      schrieb am 22.10.10 19:31:53
      Beitrag Nr. 474 ()
      Antwort auf Beitrag Nr.: 40.375.028 von OliverFFM am 22.10.10 16:33:23Angeber sind meistens überhaupt nicht investiert.
      Wen interessieren Deine Stückzahlen??
      1 Antwort
      Avatar
      schrieb am 23.10.10 10:05:53
      Beitrag Nr. 475 ()
      Bevor man investiert sollte man das hier lesen ...


      http://www.faz.net/s/RubEC1ACFE1EE274C81BCD3621EF555C83C/Doc…
      3 Antworten
      Avatar
      schrieb am 23.10.10 11:46:20
      Beitrag Nr. 476 ()
      Antwort auf Beitrag Nr.: 40.376.355 von rudimental am 22.10.10 19:31:53Du hast natürlich Recht, aber erstens gings mir nur um die Relation, das Verhältnis der Positionen zueinander und zweitens sind das ja wohl keine Unsummen, oder?:keks:
      Avatar
      schrieb am 23.10.10 11:50:46
      Beitrag Nr. 477 ()
      Antwort auf Beitrag Nr.: 40.378.010 von sporttrader am 23.10.10 10:05:53na da knall ich noch n "off-topic" über GR hinterher.

      http://www.bild.de/BILD/politik/wirtschaft/2010/10/23/griech…
      Avatar
      schrieb am 23.10.10 19:29:36
      Beitrag Nr. 478 ()
      Antwort auf Beitrag Nr.: 40.378.010 von sporttrader am 23.10.10 10:05:53und genau deshalb steht AIB bei 0,40 Euro..
      1 Antwort
      Avatar
      schrieb am 23.10.10 23:38:34
      Beitrag Nr. 479 ()
      Antwort auf Beitrag Nr.: 40.379.227 von jacomo1 am 23.10.10 19:29:36...natürlich gibt es wichtige Zusammenhänge zwischen einem Land und einem wichtigem Unternehmen, gerade bei den Banken (Staatshilfen);

      Nichtsdestotrotz muss man das aber ab und an :) auseinanderhalten!

      Abgesehen davon, ist Irland durch die EU besichert und eine Bank ist nicht wie die andere …
      Avatar
      schrieb am 25.10.10 20:17:56
      Beitrag Nr. 480 ()
      Könnte jemand mal ein paar realistische Gründe nennen, warum man daran glauben sollte, dass das Papier noch mal über 1 EUR steigt?

      Ich würde ja gerne dem Tipp "Ins Depot legen und dann schlafen gehen" folgen, aber ich hätte gerne noch ein paar Beruhigungstabletten.
      Haut mal was Aufmunterndes in die Tasten. :-)
      4 Antworten
      Avatar
      schrieb am 25.10.10 22:28:45
      Beitrag Nr. 481 ()
      Antwort auf Beitrag Nr.: 40.386.831 von eaglez am 25.10.10 20:17:56würde ich gerne - kenne mich aber nicht sooo gut mit AIB aus. Ob das jetzt schon Schnäppchenpreise sind? Ich weiß nicht.

      Etwas anderes. Banco Popolare hat heute ihr KE bekannt gegeben, um die Basel III EK Anforderungen erfüllen zu können.

      Ähnliches liegt hinter der Deutschen Bank und auch hinter NBG (soll kein Vergleich sein ;-) Logischerweise ist daraufhin der Kurs stark gefallen. Zuletzt heute bei der Banco.

      Das steht AIB noch bevor, oder? Kann mir nicht annähernd vorstellen, dass die für Basel III gerüstet sind. Ist das so. Bitte um kurze Info oder einen Link.

      Danke!
      3 Antworten
      Avatar
      schrieb am 26.10.10 08:35:28
      Beitrag Nr. 482 ()
      Antwort auf Beitrag Nr.: 40.387.847 von OliverFFM am 25.10.10 22:28:45Previous 52-Week Low Surpassed in Shares of Allied Irish Banks (AIB)

      Written on Tue, 10/26/2010 - 1:57amBy Chip Brian

      Shares of Allied Irish Banks (NYSE:AIB) traded at a new 52-week low yesterday of $1.12. Approximately 2.3 million shares have traded hands yesterday vs. average 30-day volume of 6.3 million shares.
      Allied Irish Banks closed at $1.12, approximately 33.9% below its 50-day moving average of $1.70. SmarTrend will be monitoring shares of AIB to see if this bearish momentum will continue.
      SmarTrend is bearish on shares of Allied Irish Banks and our subscribers were alerted to Sell on August 25, 2010 at $1.99. The stock has fallen 43.6% since the alert was issued.
      Avatar
      schrieb am 26.10.10 09:08:22
      Beitrag Nr. 483 ()
      Antwort auf Beitrag Nr.: 40.387.847 von OliverFFM am 25.10.10 22:28:45Basel III ? AIB hat gelinde gesagt gerade ganz andere Sorgen...
      1 Antwort
      Avatar
      schrieb am 26.10.10 09:46:35
      Beitrag Nr. 484 ()
      Antwort auf Beitrag Nr.: 40.388.910 von jacomo1 am 26.10.10 09:08:22ich weiß, aber das war nicht meine Frage.
      Avatar
      schrieb am 26.10.10 10:53:20
      Beitrag Nr. 485 ()
      Antwort auf Beitrag Nr.: 40.305.216 von Carola11 am 12.10.10 14:23:39Moin Carola11,

      was sagst Du,Geld weg,oder Auferstehung? :confused:

      Gruß
      hauswand :cool:
      Avatar
      schrieb am 26.10.10 13:58:36
      Beitrag Nr. 486 ()
      denke mal wenn die irische wirtschaft wiederkommt und das wird sie schneller als die griechen grins zieht diese aktie wieder an
      Avatar
      schrieb am 26.10.10 16:45:37
      Beitrag Nr. 487 ()
      geht anscheinend noch billiger:confused:
      Avatar
      schrieb am 26.10.10 17:53:13
      Beitrag Nr. 488 ()
      Weiß jemand, wann hier die nächsten Zahlen zum Quartal anstehen? Vielen Dank im voraus.
      15 Antworten
      Avatar
      schrieb am 27.10.10 08:04:36
      Beitrag Nr. 489 ()
      Antwort auf Beitrag Nr.: 40.393.509 von Corsianer am 26.10.10 17:53:13Moin Corsianer,

      die zum Quartal kommen am 1.11.2010 bestätigt!

      Gruß
      hauswand :cool:
      14 Antworten
      Avatar
      schrieb am 27.10.10 08:26:09
      Beitrag Nr. 490 ()
      Antwort auf Beitrag Nr.: 40.396.416 von hauswand am 27.10.10 08:04:36Sorry,kaufe das Wort Zahlen! :D
      13 Antworten
      Avatar
      schrieb am 28.10.10 08:44:20
      Beitrag Nr. 491 ()
      Antwort auf Beitrag Nr.: 40.396.499 von hauswand am 27.10.10 08:26:09neue besen...

      http://www.thepost.ie/breakingnews/business/eyqlsneykfmh/
      Avatar
      schrieb am 28.10.10 09:39:53
      Beitrag Nr. 492 ()
      Antwort auf Beitrag Nr.: 40.396.499 von hauswand am 27.10.10 08:26:09und wieder saftig runter...:mad:
      11 Antworten
      Avatar
      schrieb am 28.10.10 11:41:14
      Beitrag Nr. 493 ()
      Antwort auf Beitrag Nr.: 40.405.108 von OliverFFM am 28.10.10 09:39:53Moin OliverFFM,:)

      ja das ist zum kotzen,ich habe vorgestern auch noch gekauft! :mad:

      Hier dein Link:http://www.thepost.ie/breakingnews/business/eyqlsneykfmh/

      Ich mache den mal auf,vielleicht hilft der ja! :D



      Zwischenbericht Vorsitzende des AIB ernannt
      27/10/2010 - 20:56:53

      David Hodgkinson hat heute als Interims-Präsidenten auf AIB ernannt, vorbehaltlich der behördlichen Genehmigung.

      Herr Hodgkinson sagt sein Ziel ist es, eng mit allen Beteiligten auf AIB die ernsten Herausforderungen konfrontiert, die die Bank zu bewältigen.


      Der Finanzminister Brian Lenihan ist erfreut über die Bewegung, sagte Herr Hodgkinson Führung wird entscheidend sein für AIB ermöglichen, ihre aktuellen Herausforderungen zu überwinden und spielen ihre Rolle bei der wirtschaftlichen Erholung in Irland.

      Gruß
      hauswand :cool:
      10 Antworten
      Avatar
      schrieb am 28.10.10 17:39:59
      Beitrag Nr. 494 ()
      Antwort auf Beitrag Nr.: 40.406.218 von hauswand am 28.10.10 11:41:14denke das es bis zum 1.11.2010 weiter fallen wird,,,wegen ke. und beteiligung vom staat usw,,,


      und dann mal schauen:)
      9 Antworten
      Avatar
      schrieb am 28.10.10 22:21:02
      Beitrag Nr. 495 ()
      Antwort auf Beitrag Nr.: 40.409.527 von Jo62 am 28.10.10 17:39:59das sehe ich seit heute auch so und hab meine Posi komplett verkauft.
      Avatar
      schrieb am 28.10.10 22:31:35
      Beitrag Nr. 496 ()
      Antwort auf Beitrag Nr.: 40.409.527 von Jo62 am 28.10.10 17:39:59aber warum genau bis zum 01.11.?
      Avatar
      schrieb am 29.10.10 08:31:43
      Beitrag Nr. 497 ()
      Antwort auf Beitrag Nr.: 40.409.527 von Jo62 am 28.10.10 17:39:59Du scheinst zu viele Scheinchen zu besitzen oder bist überhaupt nicht investiert. Anders kann man Dein Anlageverhalten nicht interpretieren. Auch für Dich noch mal der Hinweis das die neuen Aktien bei der in wenigen Tagen folgenden KE mit 0,50€ zur Zeichnung angeboten werden. Ich verstehe Deine Logik nicht. Sollte der Kurs am Tage der KE unter 0,50 liegen, wird sie keiner zeichnen, es sei denn ich weiß nicht mehr wohin mit meinem vielen Geld. Doch, einer Klientel traue ich auch einen Einstieg unter 0,50 zu; die Banken, da kommt es auf einige Mrd. mehr Verlust anscheinend nicht mehr an.:laugh::p




      Es könnte sehr zügig über die 0,50 hinaus laufen. Keine Empfehlung zum Handeln!
      6 Antworten
      Avatar
      schrieb am 30.10.10 09:44:36
      Beitrag Nr. 498 ()
      Avatar
      schrieb am 31.10.10 14:16:19
      Beitrag Nr. 499 ()
      Antwort auf Beitrag Nr.: 40.413.007 von Market-Insider am 29.10.10 08:31:43schon mal drüber nachgedacht, dass die KE schief gehen könnte?
      5 Antworten
      Avatar
      schrieb am 03.11.10 09:08:07
      Beitrag Nr. 500 ()
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