Danske Bank

Linky-link please?

Not on free website yet

They provisioned SOME of this 3 months ago ( obviously not a YEAR ago) but 2.14% of the loan book was impaired q4 08 and now it is 7.4% in q1 09 . It TREBLED .

independent.ie/business/iris … 30107.html

Last evening, Thursday May 7th, Pat McArdle was on the Six-One News on RTE.
He was asked why Ulster Bank were not passing on the ECB rate reductions!
His Answer was along the lines of:
Ulster Bank were operating like a commercial company, they are not part of the Government guarantee.

I interpret this as - every bank that is passing on the ECB **under pressure **from the Government, doing so is actually increasing their losses otherwise all banks would do it - therefore the Government are increasing the potential bailout cost for taxpayers!

Anyone else have this interpretation?

Yup 100%. I am also led to understand that this form of interpretation is also known as thinking things through, which could very well be classed as unpatriotic or something.

Yeah for godsake be careful, this common sense thing is dangerous in the wrong hands.

Danske Bank Reports Loss, Expects Loan Losses to Remain High

Danske has REDUCED its projections for losses from the Q1 period mention further back. This is good news all things considered.

Note that Danske cherry picked its residential mortgage book and went for Low LTV loans as much as possible, none of your 85%+ jobbies for them.


Post of the day !
We are all still too busy gazing at the car wreck that is residential, and failing to notice the two commercial juggernauts ploughing into oneanother creating an even bigger mess.

Our other problem is that Irish commercial lending has gone into holes in Chicago and €1bn towers in Canary Wharf. It is highly globalised and exposed to every overheated market one can imagine .

It is also highly opaque and not accounted for by the Central Bank .

same logic cheap things are not good; there must be something wrong.
same logic, NAMA shouln’t write off a big percentage of developer land, as banks cann’t afford it and taxpayers have to bear more.
For god sake, Lets do it once and we will build our country from there.

Danske say there will be another few quarters of impairments in their troubled Irish wing …

ft.com/intl/cms/s/0/9f962508 … z2WgLMT8Xa

Hmmm, they’re the broker where I leave a few of my long term share holdings, wouldnt use them as a regular bank but I found them a nice balance between low fees but still instant access with an okay online interface if I needed to dump or buy in a hurry, thanks for the warning, looks like I need to start transferring my holdings elsewhere, they’d already jacked the fees up anyway.

Danske Group Chief Executive Fired


Paulson eyes Danske property portfolio -Joe Brennan- > independent.ie/business/comm … 53974.html