Bank Of Ireland Share Discussion Threads

[lbo] 06/8/2014 16:23

Well just looking at the five major UK banks ie Barclays, Lloyds, RBS, HSBC and Standard Chartered the price to book ratios range from just 0.4 for RBS to 1.4 for Lloyds, with Standard Chartered, Barclays and HSBC all having price to book ratios of 0.65.

All highlight the fact that any of these five UK banks and all European banks which average 1x, while Deutsche is only 0.6, are all better Value then Bank of Ireland at the moment which trades at 2x book value.

[montyhedge] 05/8/2014 16:47

You can get anything written by financial journalists for the price of a good lunch, all depends your position long or short to what is written.

Anyone who makes investment decisions on what they read in a newspaper should not be investing.

[hvs] 05/8/2014 13:49

Its BANKRUPT like the country.

BANCO SPIRITO SANTO

IDIOTS in charge.

[cricklewood] 02/8/2014 09:34

BANK of Ireland is putting 1,500 homes on the market and making €250m available for new house construction projects.

The country's largest bank, which yesterday announced its first six-month profit since the crash, revealed it will be selling the 1,500 houses – including repossessed homes – within months.

The sale of so many houses is sure to cause ripples in the property market which suffers from acute shortages in the capital as well as oversupply in many other areas of the country.

Only 5,400 homes were sold in the first three months of the year, so the bank's decision to sell so many properties in the coming months will have a relatively large impact on supply.

An initial €250m has been earmarked to lend to developers, chief executive Richie Boucher said yesterday.

But that pot of money for developers can be increased if there is demand from builders who also have cash themselves to put up for projects, he said.

The Government is also trying to meet demand with promises to stimulate supply and thereby cool the overheating property market but these plans have yet to translate into large numbers of homes.


Yesterday, Mr Boucher said lack of construction is only one part of the blockage in the housing market. He predicted sales of secondhand homes would increase following recent price increases, he said.

"Demand does attract supply," he said.

Controversially, around one in six of the houses to be sold has been been repossessed. In addition are so called voluntary sales of homes by borrowers in deep arrears, sales of buy- to-let properties in the hands of receivers and houses being completed in previously stalled development schemes.

Mr Boucher said he could not put a figure on how many new house-builds the bank could finance with its €250m fund. "We have a large fund of money, and we will let the builders talk for themselves," he said.

The bank's decision came on the same day that the SIPTU trade union set out a four-year plan it believes will solve the current social housing crisis and create 65,000 jobs.

SIPTU said its €3.7bn plan to resolve the housing crisis by 2018 would create 25,000 social housing units and create 65,000 construction jobs.

The paper written by the union's economist Marie Sherlock proposes that the funds are raised from the National Treasury Management Agency and loans from the Council of Europe and the European Investment Bank.

Earlier this week, AIB chief executive David Duffy said his bank was in discussions with developers about schemes that could add 5,000 new homes.

But Mr Duffy had warned that house buyers face up to four more years of shortages as supply lags behind demand for new homes.

The Department of Finance has identified a lack of start-up capital among builders as a major blockage in the system.

In an interview with the Irish Independent, Richie Boucher said some traditional family building firms in particular have emerged from the crash with cash.

Builders

"They have maybe some equity so we are working with them," he said.

Some developers are also being supported by outside equity providers, he said.

Builders, even those with money have become more conservative, he added.

Initially, many developers who have money are targeting smaller schemes, he said.

"What we see at the moment is a lot of in-fill type development. What will happen is those guys will make some money on that and have more equity to put into the next deal, but they will want to be careful as what was a dangerous feature last time around was that people bet the farm."

The need in Dublin alone for new houses is estimated to be as high as 10,000 new units per year.

The interventions by Bank of Ireland and AIB come after the National Asset Management Agency (NAMA) announced earlier this month that it was ready to build 3,000 homes and fund up to half of the country's housing needs over the next five years.

NAMA claims it has access to sites which can deliver 22,000 new houses and apartments over the next five years and it has committed to funding delivery of 4,500 by 2016.

Irish Independent

[lbo] 01/8/2014 16:26

Just trying to undo the PR disaster of selling all his shares back in April!

[tiptv1] 01/8/2014 13:48

Zak Mir conducts his major market round-up and says to BUY in Bank of Ireland (Governor & Co of) (BKIR.L). See more at:

[kemorkid] 01/8/2014 12:52

So a director buys 500 000 shares ???

[jswjsw] 01/8/2014 09:34

... sorry, that should have read tangible NAV

[jswjsw] 01/8/2014 09:25

LBO - those figures were published in June and are historic.
The levels of assets has now risen above liabilities, representing a watershed for BKIR...

What bothers me slightly is intangible NAV which, at 20c, is lower than I was expecting
j

[lbo] 01/8/2014 08:11

Interesting if Bank of Ireland were to measure all it's financial instruments at fair value it's shareholders' equity is more than wiped out.

[cricklewood] 01/8/2014 07:46

Yes Monty very nice indeed.


hxxp://www.rte.ie/news/business/2014/0801/634545-boi-first-half/

Bank of Ireland has reported a pre-tax profit of €399m for the first half of 2014.

That includes an €87m one-off gain due to changes in its defined benefit pension scheme.

Excluding this and other items which are not part of its core day-to-day banking operations its underlying profit for the six month period was €327m.

The bank said its return to profitability was driven in part by a reduction in the level of write downs on bad debts.

Bank of Ireland's first half impairment charge fell 43% to €285m in the six months to the end of June.

[montyhedge] 01/8/2014 07:20

Superb figures.

[hvs] 31/7/2014 16:44

No wonder its BANKRUPT.

[docdave2] 31/7/2014 15:11

Haha well they show up as reds for sells beside the blue buysThey are probably dark book orders so you won't see them on your level 2 screensA secretive method of trading I never agreed with but it's legal unfortunately!

[hvs] 30/7/2014 13:58

lol !!!!!

Its BANKRUPT like the country.

[cricklewood] 30/7/2014 13:55

Doc

Don't believe it, most buys show up as sells.

[boldtrader] 30/7/2014 13:54

You sure they're sells docdave? the spread is tight and Barc/stockbrokers only showing 40plus mil dealt to press.

[docdave2] 30/7/2014 13:00

31M sold @10:432.5M sold @10:4425M sold @11:003M sold @11:161M sold @11:272.5M sold @11:562.5M sold @12:065M sold @12:163.25M sold @12:34Just over 75M sold over a 2 hour timeframe!!! Is the news really that bad???So now you must ask yourself how on earth does any stock with such a high sell volume go up....... Simple.... Scheming market makers and brokers sucking in the little man in!!!!

[kemorkid] 30/7/2014 11:05

friday morning.
aib reported this am -back into profit.

[razr] 30/7/2014 11:03

Massive volume this morning on the ISEQ. Any news out?!