Seems loads of “distressed loans” .
They’re not making any progress with their % of NPLs, still almost 30% nearly a decade after the financial crisis. They’re probably too small to be able to do much about it.
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They also pissed the regulator off royally over their approach to dealing with people on tracker mortgages. Used loan forbearance options as mechanisms to get people off the trackers. Its led to a massive review of the practise across the industry and huge sums of compensation being owed. I havent seen the accounts but should be a big allowance in their books for this as they had a huge proportion of trackers on the balance sheet
They also made a few serious errors in enforcing on their BTL properties and appointed recievers where the paperwork didnt allow for it. That’s set them back a long way in reducing NPLs and likely had a significant negative impact on sale of loan portfolios
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AIB in bother?
Go on…
I heard someone on the radio from them a few weeks ago blowing about their 1.1 billion profits.
They are probably playing the poor mouth now given the fact there is public pressure about loan/mortgage freezes. Utter cunts
Irish banks are amongst the best capitalised banks in the world.
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Are you Brian cowen ?
Great bit of business from AIB today buying back Goodbody’s for 5 times what they sold it for in 2010
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Goodbodys and Davy provided a useful service during the Tiger, issuing unbiased buy recommendations on AIB and BOI.
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Pardon my ignorance but why does a bank need to own a Stockbroker ??
They don’t. But sure why not
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Cos it’s fairly difficult to make decent money from normal banking at this stage
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Davy’s got a nice fine today too - the largest ever for a stockbroker
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Didn’t they have it during the boom years too ???
That sounded really really dodgy.
Yep. Was sold off as party of their divestment from non core activities. Fexco and the execs made a nice profit 10 years later.
Extremely - surprised each participant wasn’t reprimanded