Reuters: Irish Banks Top Aggressive Property Loans Poll

[Blue_Horseshoe]

“The findings are less reassuring than we had expected,” Merrill Lynch analysts said

reuters.com/article/bankingF … 7920080313

Blue Horseshoe

[Tyrannosaurus]

Royal Bank of Scotland and Anglo Irish Bank were not immediately available for comment.

AGGRESSIVE UK COMMERCIAL PROPERTY LENDING (VALUER POLL)

BANK NUMBER OF CITATIONS

HBOS 7

“Irish banks” 6

Anglo Irish 5

RBS 5

Allied Irish 5

Barclays Capital 3

Deutsche Bank 3

CapMark 3

“Securitisers” 3

“Late entrants” 2

Clydesdale (NAB.AX: ) 2

Goldman Sachs (GS.N: ) 2

“U.S. investment banks” 2

Citigroup (C.N: Quote, Profile, Research) 1

Macquarie 1

Bank of Ireland (BKIR.I: ) 1

Merrill Lynch (MER.N: ) 1

Credit Suisse (CSGN.VX: ) 1

Lehman Brothers (LEH.N: ) 1

Bradford & Bingley (BB.L: ) 1

Irish Nationwide 1

Kaupthing (KAUP.IC: ) 1

Lloyds TSB (LLOY.L: ) 1

HSBC (HSBA.L: ) 1

“German banks” 1

Eurohypo (EHYG.DE: ) 1

West Bromwich Building Society 1

Newcastle Building Society 1

“Smaller lenders” 1

(See www.reutersrealestate.com for the global service for real estate professionals from Reuters).

(Additional reporting by Paul Hoskins in Dublin and Steve Slater in London; Editing by Andrew Callus)

[A_Random_Walk]

That is an ugly ugly survey for Irish banks with some very stark conclusions

“The UK commercial real estate bubble is bursting and the banks are going to lose money. The question that investors want answered now more than ever is how good, or bad, has underwriting been and how much money will lenders lose as a consequence?,” the note said.

[Green_Bear]

It’s the second Irish invasion of Britain. The descendants of the Irish workers who built the housing estates, the roads, the airports and the shopping centres of postwar Britain are taking over. In the last 18 months, billions of pounds have been spent by Irish investors, many of them from post-ceasefire Northern Ireland, buying up vast quantities of commercial and residential property in England and Scotland.

According to Irish banks and leading property consultants on the island, Ireland’s entrepreneurs have taken on and beaten foreign investors like the Saudis and the Germans in the acquisition war across the Irish Sea.

Irish spend billions in UK property spree
Sunday April 9 2006
guardian.co.uk/money/2006/ap … tionalnews

Ireland has overtaken the United States as the single largest cross-border investor into UK commercial property, accounting for almost 22% of total overseas purchases in 2005, claims global property adviser DTZ.

Irish are top foreign purchasers of UK commercial property
Aug 24, 2006
finfacts.com/irelandbusiness … 7024.shtml

[kerrynorth]

The figures I recollect seeing previously was that the Irish banks had something like a E9billion exposure to UK commercial property.

[NCD]

Should this article not be in the Central Bank forum as it goes a long way to explaining the recent pressure on Anglo’s share price

[verbatim]

@NCD

Should this article not be in the Central Bank forum as it goes a long way to explaining the recent pressure on Anglo’s share price

This thread has been replicated about 4 or 5 times already, which seems to be the style of the pin recently.

Here is one of the incarnations on the Central Bank section

thepropertypin.com/viewtopic.php?t=7926

complete with recent moves in Anglo CDS spreads.

[Tyrannosaurus]

this thread beats the other by a day