Allied Irish Banks Share Discussion Threads

[ch1ck] 29/3/2010 09:17

No Santander ALBK in talks over the weekend with the Irish Gov. Luckily I sold on Friday will buy back this week

[jak1] 29/3/2010 09:11

By the Irish state...

[ch1ck] 29/3/2010 08:46

Take over article in the UK Times on Sunday I am suprised the price has fallen

[crockanure8] 29/3/2010 08:23

heading for zero....bye bye

[caveat_emptor] 28/3/2010 13:54

Brave man that bets either way so!!!

[hybrasil] 24/3/2010 11:17

the volatility here is fantastic

[moochy] 19/3/2010 14:22

How many European countries can the EU save?

Is there any chance that Ireland can go Bankrupt?

Does anyone have an opinion on this?

[moochy] 19/3/2010 14:14

How many European countries can the EU save?

Is there a chance for Ireland to go bankrupyt?

Does anyone have an opinion on this?

[masurenguy] 19/3/2010 14:05

Deja vu !

Are ye sure dat yer name is really Moochy and not Murphy ?

[moochy] 19/3/2010 13:54

The former chairman of Anglo Irish Bank is being questioned by Irish police about alleged financial irregularities.

Sean FitzPatrick stepped down in December 2008 after admitting he had concealed millions of euros in personal loans from the Dublin-based bank.

He hid the loans from shareholders by temporarily transferring them to another bank before each year-end to avoid revealing them in the accounts.

The bank became a symbol for the decline of the "Celtic Tiger" economy.

Last year, Anglo reported the biggest loss in Irish corporate history when it made a loss of 4.1bn euros (£3.7bn) in the six months to March on the back of large impairments on its property loans to developers.





The troubles of Anglo Irish Bank
Its latest set of results, due to be published soon, are expected to be much worse.

The bank was one of the stars of Irish business during the country's property boom, lending billions of euros for development in Ireland and the UK.

It was nationalised by the Dublin government in 2009 after it threatened to collapse in the face of a property crash.

Aside from the concealment of directors' loans, other scandals to afflict the bank included a scheme to allegedly give artificial support to the bank's share price and the recording of a huge loan from another bank as a customer deposit.

Legal action

Last week Mr FitzPatrick told the bank he could not repay 70m euros (£63m) he owes in unpaid loans.

As a result, the bank has started legal action against him in an attempt to recover the debt.

Mr FitzPatrick was arrested at his home in Greystones, County Wicklow, by the Garda Bureau of Fraud Investigation on Thursday. His house was also searched.

Following the arrest, Finance Minister Brian Lenihan said he had "always stated there is an extensive Garda investigation under way".

"I have been cautious not to prejudice that investigation and am eager to see justice take its course."

[masurenguy] 18/3/2010 16:35

Ex-Anglo Irish chairman FitzPatrick in fraud inquiry

The former chairman of Anglo Irish Bank is being questioned by Irish police about alleged financial irregularities. Last week Mr FitzPatrick told the bank he could not repay 70m euros (£63m) he owes in unpaid loans. As a result, the bank has started legal action against him in an attempt to recover the debt.
Mr FitzPatrick was arrested at his home in Greystones, County Wicklow, by the Garda Bureau of Fraud Investigation on Thursday. His house was also searched.
Following the arrest, Finance Minister Brian Lenihan said he had "always stated there is an extensive Garda investigation under way". I have been cautious not to prejudice that investigation and am eager to see justice take its course."

[crockanure8] 17/3/2010 09:25

pension fund investment

[mawallace] 17/3/2010 09:15

I see that Greencore Group Plc have notifed of an interest in the company shares?
a. Is it a acqustion or disposal? and

b. What is a company which is a convienvce food business doing buting shares in Allied Irish banks?

[lbo] 16/3/2010 12:51

Allied Irish Bank has failed to reach an agreement with four businessmen, including a son of well-known hotelier Jim Mansfield, over the repayment of some €6.28 million arising from loans advanced to develop lands in Co Meath.

The proceedings had been admitted to the Commercial Court last week but were adjourned after the defendants made proposals to the bank.

Yesterday, Denis McDonald SC, for AIB, said the talks had "come to nothing" and the bank was proceeding with its application. Ms Justice Mary Finlay Geoghegan adjourned the case to next month.

[mountpleasant] 12/3/2010 15:18

Takes his meat around the back, ha ha

[hermana] 12/3/2010 15:01

You can think what you want but I couldn't possibly comment!!

[mountpleasant] 12/3/2010 14:57

Are you saying he is a crafty butcher?

[mountpleasant] 12/3/2010 14:46

Thats old news, people had written that off in their own minds, years ago.

[hermana] 12/3/2010 14:33

Davy takes yet another dump on investors.

[lbo] 12/3/2010 14:30

A 52-acre residential site in Shankill, Co Dublin, owned by developer Joe O'Reilly and a group of investors put together by Davy has been written down to 5 cent in the euro.

Investors in the project have been told if the site is sold today they will get nothing back. The Woodbrook residential site has not got full planning permission and is now likely to go into NAMA, the toxic loan agency.

An investors' update covering 2009, seen by the Irish Independent, states: "To reflect the significant risk to recovering capital, the investment has been written down to €0.05.''

Davy Investors declined to comment through their representatives yesterday.

[lbo] 12/3/2010 14:17

The banks have raised about half the €25 billion to €30 billion in debt maturing this year, according to Dublin firm Glas Securities, which specialises in fixed-income markets. Some €25 billion falls due before the two-year State blanket bank guarantee expires on September 29th next

[caveat_emptor] 12/3/2010 08:11

If anyone here is SHORT....the time has come to think about it.
These bank shares look like they are going to take off above £2.


The only people who seem to be negative about their porspects,
or ability to repay loans are people like us!!!

AIB 'pleased' with €3bn State-backed bond sale

Friday March 12 2010

Allied Irish Banks raised €3bn in the bond markets yesterday in two State-guaranteed transactions.

The bank initially tapped investors with a five-year bond, which raised €2bn. Orders for the bond reached €3.3bn.

The issue carries an annual coupon of just over 4pc, or what's known in the market as 1.55 percentage points over the benchmark 'mid-swaps' rate.

AIB also decided yesterday to issue a €1bn two-year bond, as a result of inquiries from bond investors.

"We're very pleased with both transactions, from the perspective of amounts achieved, price and investor and geographic spread," said Donal Murphy, head of wholesale treasury at AIB Capital Markets.

He said the bank took the "deliberate decision to leave unfulfilled demand in the market, being conscious of future issuance from the Irish system."

The transactions were managed by investment banks Credit Suisse, Deutsche Bank, JP Morgan Chase and Societe Generale.

Ahead of the new bond placements, Finance Minister Brian Lenihan revealed this week that over €37bn of bank liabilities are currently covered by the new State guarantee scheme.

The eligible liabilities guarantee (ELG) scheme allows lenders to issue bonds of up to five years in maturity.

The original two-year blanket guarantee for the country's six domestic lenders is due to expire at the end of September. The Government's fees for the new scheme are higher than the original.

Shares in AIB ended yesterday's session up 2.2pc at €1.40. Rival Bank of Ireland advanced 1.2pc to €1.17.

- Joe Brennan

Irish Independent