By Padraic Halpin DUBLIN (Reuters) - Bank of Ireland <BIRG.I> was on course to grow its loan book annually for the first time in over a decade and cut its costs in the first six months of the year to make early progress towards new medium-term targets. Bank of Ireland roughly halved its balance sheet over the past decade following a devastating property crash and like all lenders, found net loan book growth elusive after repayments and redemptions continued to exceed improving new lending. Its total loans grew to 76.6 billion euros (£68 billion)from 76.1 billion at the end of 2017, as it aims to increase the size of the book by around 20 percent by 2021, part of plans laid out last month to improve profitability and efficiency. Chief Executive Francesca McDonagh said the bank expects net loan book growth to continue in the second half of the year but the degree to which it will come through on the business side very much depends on Brexit negotiations. "There is always risks … [Read more...] about Bank of Ireland grows net loan book, cuts costs
Shares bank of ireland
By Graham Fahy DUBLIN (Reuters) – Jason and Orlaigh O’Connor secured a half-million-euro mortgage 11 years ago to buy the family home from Orlaigh’s ageing parents, even though Jason had to work overtime to meet the repayments and Orlaigh had no regular income. Now, with barely a dent made in the principal and their account 75,000 euros in arrears, the couple face the prospect of never being able to pay back the loan. The O’Connors’ case is typical of a situation stymying Irish efforts to deal with some of the most stubborn home mortgage arrears in Europe, after the 2008 crash halved house prices and led to the most expensive bank rescue in the euro zone. While Ireland’s economy has recovered, clocking the fastest growth in Europe for four straight years, a push to purge the soured loans has stalled – a legacy, critics say, of forced evictions of peasants by absentee landlords in the 19th century that sowed a national aversion to repossession. … [Read more...] about Home mortgage debt outstanding legacy of Ireland’s financial crisis
BELFAST-based software start-up DisplayNote Technologies has been given another £1.1 million cash injection from the Bank of Ireland Kernel Capital Growth Fund, bringing the investor's total stake in the firm to £2 million.Founded in 2012, DisplayNote builds technologies that make it easier for people to present, share and collaborate across large-format displays, desktop and mobile devices.Its screen-sharing technology allows users to collaborate in various settings, from meeting rooms to lecture halls.The company has already secured multi-million pound contracts with global blue-chip customers including NEC, BENQ and Sahara (which distributes its Montage system).DisplayNote says it will use the latest Kernel cash for key hires as it builds on its international customer base across the US, Europe and Asia."This investment will allow us to bring new products to market, invest further in research and development, and grow our team as we continue to expand our global customer … [Read more...] about Screen-sharing technology firm DisplayNote in £1.1m investment boost
DUBLIN (Reuters) – Bank of Ireland’s <BIRG.I> net loan book grew slightly in the first quarter following years of repayments and redemptions exceeding improving new lending, as it reported strong demand for credit in the first three months. The bank, which has led a return to profit across the sector in recent years following a banking crash a decade ago, had said it expected to see net loan book growth in 2018, helping boost its margins later in the year. New lending volumes exceeded redemptions by 100 million euros (£87.7 million), it said, leaving its loan book at 76 billion euros at the end of March. That was driven by a 20 percent year-on-year rise in new lending, including a 33 percent increase in new Irish mortgage lending that inched its share of the fast recovering market up to 28 percent. The bank’s net interest margin (NIM), a measure of the profitability of its lending, fell to 2.22 percent from 2.24 percent at the end of 2017, although Davy … [Read more...] about Bank of Ireland sees first sign of net loan book growth
0 Comments Poll: Were Ireland and Ulster rugby chiefs right to sack Jackson and Olding? BelfastTelegraph.co.uk Lindy McDowell and Eilis O'Hanlon take opposing views on the decision taken by rugby chiefs. https://www.belfasttelegraph.co.uk/news/northern-ireland/poll-were-ireland-and-ulster-rugby-chiefs-right-to-sack-jackson-and-olding-36809262.html https://www.belfasttelegraph.co.uk/incoming/article36800068.ece/3c387/AUTOCROP/h342/bpanews_ed19ae3c-309b-4a59-aa9a-f89c01381bc3_embedded235721038 Email Lindy McDowell and Eilis O'Hanlon take opposing views on the decision taken by rugby chiefs. No, both of their careers have been macerated by a vocal social media backlashBy Lindy McDowell In the end it wasn't a victory for feminism. It was a victory for finance. Because, let's face it, those who generally call the shots in sport are the sponsors. And in the opinion of many Ulster Rugby fans, it would appear to have been the pressure from the sponsors that played a key role … [Read more...] about Poll: Were Ireland and Ulster rugby chiefs right to sack Jackson and Olding?