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 Post subject: Re: The AIB thread
PostPosted: Thu Mar 02, 2017 7:13 pm 
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Raymond luxury yacht wrote:
250m dividend to the state. 1.7bn profit. Ok it's a start anyway on the €20bn pumped in. Good news for the long suffering taxpayer nonetheless.



Not a start. A continuation. Already over €6bn returned to the State.


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 Post subject: Re: The AIB thread
PostPosted: Thu Mar 02, 2017 8:29 pm 
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mortgageboy wrote:

Not a start. A continuation. Already over €6bn returned to the State.


In various fees and charges.

To argue that this is a pure win for the state requires the assumption that the €21bn put in was sitting around doing nothing at the time. Which is of course pretty intellectually dubious......


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 Post subject: Re: The AIB thread
PostPosted: Thu Mar 02, 2017 8:56 pm 
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Of Systemic Importance

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I'd have seen 2008 and I did see it at the time as the opportunity to break the banking duopoly and with a healthy banking sector after their demise a fitter healthier wealthier economy afterward. The Irish Government passed up this opportunity.


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 Post subject: Re: The AIB thread
PostPosted: Thu Mar 02, 2017 8:58 pm 
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Skippy 3 wrote:
mortgageboy wrote:

Not a start. A continuation. Already over €6bn returned to the State.


In various fees and charges.

To argue that this is a pure win for the state requires the assumption that the €21bn put in was sitting around doing nothing at the time. Which is of course pretty intellectually dubious......


The 21bn wasn't sitting around - it was borrowed. So you have to factor in the borrowing costs. But these aren't that high. The point is most people still believe austerity was a result of bailing out the banks, when really that wasn't the case at all.


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 Post subject: Re: The AIB thread
PostPosted: Thu Mar 02, 2017 9:15 pm 
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Back Home with Mammy

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Aib and BOI announced massive profits in the last week. It's business news.

When you think back to the vincent browne's of 2009 or 2010 you thought you'd hardly see the day again in a generation. That's quite a success. But this narrative doesn't suit too many who dominate our airwaves in Irish politics or the media it seems.


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 Post subject: Re: The AIB thread
PostPosted: Thu Mar 02, 2017 9:21 pm 
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Of Systemic Importance

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Raymond luxury yacht wrote:
Aib and BOI announced massive profits in the last week. It's business news.

When you think back to the vincent browne's of 2009 or 2010 you thought you'd hardly see the day again in a generation. That's quite a success. But this narrative doesn't suit too many who dominate our airwaves in Irish politics or the media it seems.

Persons close to me are being screwed over since then by these banks who convinced Government to drive all competition off the Island.

bailing out the banks shouldn't have been a pure cold hard business decision by an Investor seeking a return.
What we got was Government giving the banks permission and protection to screw everybody they could so long as no repossessions were done.


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 Post subject: Re: The AIB thread
PostPosted: Thu Mar 02, 2017 9:28 pm 
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Back Home with Mammy

Joined: Feb 22, 2017
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Jeysus. Can the banks ever be non controversial.
If people are being screwed over by higher interest rates at least part of this is due to the increased credit risks in this country thanks to defaulters strategic or otherwise and the unprecedented lack of recourse on secured lending.


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 Post subject: Re: The AIB thread
PostPosted: Thu Mar 02, 2017 9:31 pm 
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Raymond luxury yacht wrote:
Jeysus. Can the banks ever be non controversial.
If people are being screwed over by higher interest rates at least part of this is due to the increased credit risks in this country thanks to defaulters strategic or otherwise and the unprecedented lack of recourse on secured lending.

and whose fault is that? The guys elected to look after the best interests of the citizens of the Country.


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 Post subject: Re: The AIB thread
PostPosted: Fri Mar 03, 2017 12:19 pm 
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dipole wrote:
answering my own question.
At the time of article is was .2% not in govt. ownership.

http://www.irishtimes.com/business/fina ... -1.2347731


yeah, wasn't there numpties complaining that their shares dropped in value cause Noonan signaled the banks valuation was incorrect or something to that affect , can't remember the exact specifics apart from a few cannies got burned

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 Post subject: Re: The AIB thread
PostPosted: Fri Apr 14, 2017 1:41 pm 
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Nationalised

Joined: Oct 29, 2007
Posts: 11800
Location: Multiverse
AIB sells non-performing BTL loans to Goldman Sachs


Quote:
AIB has sold a portfolio of non-performing loans relating to buy-to-let properties to Goldman Sachs for a reported €200m.

The loans related to around 1,500 properties around the country, which were held by close to 1,200 different borrowers.
...
The sale is part of AIB's ongoing attempts to deal with its arrears problems as it looks towards a return to the stock exchange.

By the end of last year the value of non-performing loans on the bank's loan book had fallen to €9.1bn from a peak of almost €29bn.


http://www.rte.ie/news/business/2017/0414/867727-aib-portfolio-goldman-sachs/


I think I know a few people whose loans will be shifted in this.


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