BANK of Ireland lent more than £1bn to businesses in the North last year – up by a third. The bank said the growth took place across small, medium and large businesses. Overall, small company lending saw a 22pc increase in 2016. And...
Read MoreNew research shows the cost of financial fraud to consumers
Online financial services and lending companies are increasingly being targeted by fraudsters and costing consumers millions of pounds around the world last year alone, according to research. Cyber attacks against online lending companies and...
Read MoreGlobal will mull IPO on €100m valuation
Cork-based financial services firm Global Shares aims to be in a position in 2020 where it could stage an initial public offering (IPO) on either the London Stock Exchange or the Nasdaq. The firm is expected to be valued at about €100m by...
Read MoreBrexit and Trump weigh on consumers
Consumers are less confident about the economy this month than they were in January, as Brexit and US President Donald Trump’s protectionist rhetoric played on their minds. But the latest Bank of Ireland Economic Pulse shows that businesses...
Read MoreEir bids to refinance €1.6bn of loans
Eir has launched a process to cut the cost of its debts, by asking lenders to accept lower interest payments. Last summer Eir, formerly Eircom, reaped savings of €17m a year when it refinanced bonds that carried a 9.25pc interest rate and...
Read MoreBank of Ireland says no dividend payment for shareholders until 2018
Bank of Ireland(BOI) has announced that it will not pay shareholders a dividend until 2018. The bank said it had taken the decision to award dividend payments to shareholders at the end of the 2017 financial year. BOI announced underlying profit...
Read MoreUlster Bank profits hit by costs arising from tracker scandal
Ulster Bank’s operating profit in Ireland fell by €338m last year as a result of costs paid to thousands of its customers affected by the tracker mortgage scandal. The bank posted a profit of just €24m for last year due to an...
Read MoreCentral Bank monitoring Irish lenders with UK exposure to gauge Brexit risks
The impact of Brexit on the Irish economy is likely to be “negative and material,” the Central Bank deputy governor has said, as she revealed it is monitoring the effects on Irish banks with UK arms. New data yesterday showed that the...
Read MoreAIB to close half of its 30 branches in Northern Ireland
AIB is closing half of its bank branches in Northern Ireland Ireland as part of a dramatic shake-up. A total of 15 of its 30 branches are to shut down in the next six months. No further closures are planned in the Republic. It is likely the...
Read MoreRevenue targeting UK pensions in crackdown
TAX officials have sent letters to 500,000 taxpayers warning them that they are running out of time to tell Revenue if they have foreign earnings that they have failed to declare. The warning also relates to a bank account abroad or a pension...
Read MoreWe must counter protectionist talk, says EU chief
All our economies will suffer if we fail to counter the protectionist argument espoused by radical nationalists, one of Europe’s top officials has warned. European Commission first vice-president Frans Timmermans said that if the argument...
Read MoreThree former RSA Insurance Ireland employees fined after admitting misconduct at company
Three former staff members of RSA Insurance Ireland (RSAII) have been sanctioned and fined by a UK watchdog. The former Chief Financial Officer (CFO) and two former actuaries admitted misconduct following an Financial Reporting Council’s...
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