Irish Life&P.Gp Share Discussion Threads

[cudman] 15/8/2014 21:08

hxxp://businessetc.thejournal.ie/permanent-tsb-recapitalisation-legality-challenge-1622508-Aug2014/

Don't think that link will work for some reason, referred to Europe anyway.

[shareho1der] 15/8/2014 12:45

Today is the day the Court will decide if capitalisation of this Bank is justified .Hope its not postponed again .

[investorpesant] 24/6/2014 18:08

just to add to that theres a 900 million provision on the comercial loan book blackrock said in the 2011 pcar/plar,that the adverse credit losses would be 400 million.

[investorpesant] 24/6/2014 16:58

i see there going to sell there comercial loan book.i would imagine at a masive loss WHY? other banks BOI and AIB have got irish comercial loans there not told to sell these loan books off,the LTD ratio on these irish banks are falling and overshooting imo.ptsb as fell to 142% in the first quater and would be probaly below the 122% demanded by the imf by the third quater.there is no reason to sell these loans and what about the subrime mortgage book,masdings boasting about having 13% market share of all irish mortgages and competing in the market.and then next thing oh lets sell 460 million of irish residental mortgages.these rats have done everything posible to justify the nationalisation of ilp even if not robbing the balance sheet with elg fees bank levys intrest on contingency capital they will lose massive amounts of money by giving away bank loans at massive discounts to justify there actions of 2011

[investorpesant] 21/6/2014 08:24

postponed to 15 august

[shareho1der] 17/6/2014 09:06

The Court final verdict on recapitalisation is on 20 June ?Am I right ?

[wexboy] 06/4/2014 17:10

Company: Permanent TSB Group Holdings

Prior Post(s): 2012 & 2013

Ticker: IPM:ID

Price: EUR 0.112

Q1: Why on earth is Permanent TSB still a listed company? Q2: And why on earth does it still exist as a stand-alone bank?! Like Allied Irish Banks (ALBK:ID), the Irish government owns over 99% of the outstanding shares – so we have a tiny tail wagging this dog... And after everything the Irish tax-payer's endured to date, this continuing state fantasy of a third force in Irish banking is a mockery. [Maybe I should say third & fourth force - with all & sundry pretending the credit unions remain in good health. The bailout of Newbridge Credit Union (absorbed by Permanent TSB!) is simply the tip of the iceberg]. Of course, this has been desperately seized upon by Permanent TSB management, with their (Good) Bank plus Two strategy designed to create the illusion of a (core) healthy bank...which is on the verge of rising like a phoenix, from the toxic dross which has been neatly carved out into Non-Core & AMU divisions. All that's needed now is some fancy sleight of hand to try jam them down the taxpayer's throat without anybody noticing.

Meanwhile, I'm astonished to how little progress has been made in the past year. Total operating income only increased due to a decline in ELG fees, while net interest margin (exc. ELG) is a puny 0.82%. Against this, management's actually delivered an increase in (pre-impairment) operating expenses!? So it's no surprise the bank can't even make a pre-impairment profit... On top of this, we have further impairments of nearly a billion. The balance sheet's no better – Core Tier 1 capital looks healthy enough at 13.1%, but equity/total assets is just 6.3% & the loan-to-deposit ratio's a ludicrous 150%.

Equity now stands at EUR 2.4 billion, but we need to cross-check the current impairment provision (of 4.0 B). As before, I'll apply a 60% haircut to the bank's 7.9 B of impaired loans & a 30% haircut to 1.6 B of past due but not impaired loans – an equity adjustment's obviously required. Bearing in mind the poor equity/total assets & loan-to-deposit ratios, continuing (pre-impairment) operating losses, and the further increase in impaired/past due (gross) loan balances, I'm not prepared to place more than a 0.5 P/B multiple on the bank:

(EUR 2.4 B Equity – (7.9 B Impaired * 60% + 1.6 B Past Due * 30% – 4.0 B Actual Provision)) * 0.50 P/B / 36.5 B Shares = EUR 0.016

Permanent TSB shares require a bloody health warning – they're massively over-valued, and almost as toxic as their loan portfolio! Haven't taxpayers lost enough already? They should steer clear...

Price Target: EUR 0.016

Upside/(Downside): (85)%

_

[investorpesant] 28/3/2014 22:34

anyone got any views on the results without slagin off other investors lol.
heres my opinion.ELG fees £105 million,this says it all,didnt this levy finish in the first qtr of 2013.this adds up to about a third of the banks earnings,without this the bank would have gone into pre provision proffit,and by comparison BOIs ELGs costs fell to 80 million,even tho there loan book is three times bigger ? without going on forever.just want to pinpoint a part of the loan book and compare it to BOI.the BTL defaults at ptsb 90 days + fell from 5011 end of last year to 3905 down 22% early cases under 90 days 1200 cases to 1000 but apparantly NPLs went up and there was a 290 million provision,the total provision on the BTL book is 1.3bn BOI reported in there results 8k BTL 90 days + defaults with a provision of 990 million.
SHAREHOLDER if you look at the results under debt securities ptsb govererment bonds have gone from 2.9bn at june 2013 to 3.1bn at end of year i hope this answers your question.

[stockonomist] 06/3/2014 23:20

Great thread

[stockonomist] 06/3/2014 21:16

LOL

Let's see what the lying conman will do.

He threatened for months to litigate against IPM directors and then showed himself up to be a washed up busted flush.

[shareho1der] 06/3/2014 21:14

Lol. I hope you have Loverat permission before copying and pasting his posts .He could sue you for violation of copyright laws.Be careful .

[stockonomist] 06/3/2014 21:08

The Irish Life and Permanent Thread - IPM
Loverat - 28 Mar 2012 - 21:59:13 - 3614 of 3812
Not really paying much attention to this at the moment. Just come across a company with an even worse management than IPM who just happened to steal my small shareholding today.

[stockonomist] 06/3/2014 20:52

The Irish Life and Permanent Thread - IPM

Loverat - 31 Aug 2011 - 14:00:32 - 3228 of 3810

Well guys

I have lost out on these but in the hundreds so no big deal personally.

[stockonomist] 06/3/2014 20:51

Wasn't there a lying conman who pretends to be a lawyer claiming he actually made profit on IPM ?

[stockonomist] 06/3/2014 20:50

LOL

The Irish Life and Permanent Thread - IPM

Loverat - 12 Aug 2011 - 18:20:12 - 3191 of 3807

This is one action I would consider taking upon myself at the appropriate time and after further advice.

I warned about the problems with action groups some time back and I was proved right. Unfortunately I failed to heed my own advice and steer clear.

If you want to get anything done in this life forget about relying on ADVFN posters and other strangers.

[stockonomist] 06/3/2014 20:49

The Irish Life and Permanent Thread - IPM
cudman - 12 Aug 2011 - 09:27:28 - 3189 of 3807
Take it you didnt pursue it on your own Loverat?

[stockonomist] 06/3/2014 20:49

boo hoo

The Irish Life and Permanent Thread - IPM
Loverat - 12 Aug 2011 - 01:37:16 - 3188 of 3807
The government were wrong. The BOD were wrong. Legally and morally. The former knew this and the latter merely carried out the orders they were given.

You lot were taken for mugs but regrettably had no fight in you when there was a chance to salvage something. You can't blame the shareholder above for taking action. I sent the papers over to pursue legal action - but the others backed out at the last moment.

So, I guess the message is - if you want to get things done - do it yourself and don't rely on others to support you.

[stockonomist] 06/3/2014 20:47

The Irish Life and Permanent Thread - IPM
Loverat - 01 Aug 2011 - 19:29:44 - 3140 of 3806
I would be interested in knowing who might be keen on a second wave of litigation.
At the appropriate time of course.

Please e-mail me with your user name and shareholdings - if interested.

My brand of litigation is far from conventential but nevertheless something which may be worth exploring. And this litigation may be dirt cheap.

[e-mail]

[stockonomist] 06/3/2014 20:46

The Irish Life and Permanent Thread - IPM

Loverat - 31 Jul 2011 - 22:11:55 - 3130 of 3805


Litigation, litigation and yet more litigation. Irish Life Shareholders are going to fight this until the bitter end. Until the last man.

[stockonomist] 06/3/2014 20:43

ish Life and Permanent Thread - IPM
Loverat - 29 Jul 2011 - 18:02:04 - 3116 of 3804
Aimho

It is a question I cannot answer. Who really knows what will happen.

Personally, I plan to take part. But then I only hold 8,000 or so shares.