BoI the one to monitor

#981 … formation/

Information here if anyone is interested.

Pg133: 8.2bn of €92.76bn loan book provided for (8.8%). Was €7.5bn of €100.2bn in p/y (7.5%)

Pg134: 2bn of the 8.2bn relates to residential, up from 1.6bn in the p/y.

Pg135: 73.867bn on deposit at y/e compared with 75.17bn at p/y end.


Loans to deposit ratio down to 114% sounds good but deposits are falling and loans falling even faster. (Although customer deposits are up a nudge).

Net interest margin up to 2.03%. Paying depositors less and hiking variable mortgages.


Wilbur Ross & Fairfax selling a 6.4% stake in BoI.


Time to get outta Dodge…

#985 … -1.1712294


So they sold on a whim :laughing: , no thought put into it at all. No need for expensive inhouse analysts or external advisers. They make Buffet look vulgar!


That’s hilarious spin. Do you think anyone believes it?


They took an early profit so what.

They have recouped their entire initial investment and then some.

They have completely de risked their investment, no matter what the shares do now they still profit.

Hardly a get out of Dodge moment as they still own what >10% of the bank.


What percentage does the Irish state own - explicitly or otherwise?


These penny stock traders are entitled to their profit.
The Irish Government wanted to create an illusion that the Irish Bank Industry hadn’t been totally nationalised. They bought shares for funny money to assist the Irish Government in this objective and now they should be able to take their pay cheque for the work they did.


Clearly investing at 10 cent a share was a great move regardless of any spin. Committing serious cash at the time was a brave move.

I’d be surprised if they didn’t have a bit of a sick feeling in their stomach when signing up to it.

It was real money being committed so I don’t get the comments about funny money or conspiracy theories.


Shane Ross: The vulture steals a march on the minister - -> … 75073.html


ICS mortgages could be sold to an unregulated entity. … 33528.html


BoI’s own board knows our banks are in trouble - Shane Ross -> … 37689.html


Was just reading that BR Mr Ross does not paint a very cheery picture, no great surprise to most here but I know people who think we are back to flying to New York to buy a pair boots


Draghis doom loop has allowed them to suspend all reform. What is somewhat baffling (or maybe not) to me is the lack of competition entering the Irish banking market, there was talk of Musgrave group but that fizzled out. Surly with a clean balance sheet and the availability of banking specialists there is space to open a profitable bank. I suppose though it’s hard to compete with Draghis free money and the central banks protection of existing incumbents and saving BOI and AIB is de-facto government policy.


Flip are in the process of trying to launch an online bank here but it will be small scale.

A gateway to any big international bank getting into the Irish market would be via an acquisition of PTSB or Ulster Bank RoI, if any of them have the stomach for that.


Non recourse mortgages priced as recourse would dissuade big banks from buying existing banks.

Big banks starting fresh would find out quickly that Irish people completely mis price risk, so wouldn’t value a clean balance sheet.

To get to the level of Irish banks power in Ireland, you would need to grease a lot of the current players hands, so that would be an additional upfront and recurring cost. You don’t want the central bank and the regulator to actually do their job now do you? that would erode any competive edge a new fresh player would have completely.

A new small bank may not offend as many people so would not need to grease as many hands.


BoI set to close its Isle of Man operations - Nick Webb -> … 80069.html

#1000 … er-at-agm/

If you want to be a bank shareholder, be a bank shareholder, it is not a charity.

I am not surprised that Boucher treats the finance committee as idiots, if you are going to ask him questions that he can’t legally answer, he is going to be a p***k