Anglo with no mortgage business, no ATMs and no branch network accounts for 66.6% of this, yet AIB and Bank of Ireland account for 14% and 7% respectively.
INBS needs more than Bank of Ireland almost as much as AIB.
Why does none of this make sense?
Surely AIB and BoIs losses should be much much higher % of their balance sheets?
How can Anglo lose so much on commercial loans, yet the other banks competed as much for commercial loans?
How much losses are sitting on AIB and BoIs books for residential loans?
Does adding €50Bn to the national debt mean an annual €2Bn service fee (assuming a generous 4% IR)? Does this have to be factored into the budgetary numbers?
How does BoI have less commercial losses than INBS?
I’m guessing, better loan quality, better security and less financing of development land, plus they held back a bit at the peak of the bubble, whereas INBS (and for that matter, Anglo, AIB and BOSI) went full steam ahead throughout 2006 and 2007.
Although there is a conspiracy theory afloat that NAMA are deliberately forcing bigger discounts on Anglo/INBS.