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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Irish Life&P.Gp | LSE:IPM | London | Ordinary Share | IE00B59NXW72 | ORD EUR0.32 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0285 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMIPM TIDM74SV
RNS Number : 5131K
Irish Life & Permanent Grp HldgsPLC
15 July 2011
15 July 2011
Irish Life & Permanent Group Holdings p.l.c.
Results of European Banking Authority stress tests
The results of the European Banking Authority (EBA) stress tests on Irish Life & Permanent p.l.c. (IL&P), the Group's banking subsidiary, are published by the Central Bank of Ireland today.
The results of the EBA stress tests for IL&P, including the recapitalisation of EUR3.6 billion in Core Tier 1 (including EUR0.3 billion of buffer capital) required under the Prudential Capital Assessment Review (PCAR) announced in March, show capital ratios for the bank in 2012 of 28.4% under the baseline scenario and 20.4% under the adverse scenario.
The EBA stress tests methodology differs in a number of respects from that applied in the PCAR exercise. The EBA tests cover the two years to end 2012 whereas PCAR extended over the 3 years to the end of 2013. Accordingly, the EBA test results do not include IL&P's loan losses for 2013 or the expected losses from asset disposals, arising from deleveraging in 2013. These items together with differing assumptions in relation to balance sheet growth, funding costs and timing of actions account for the difference in the EBA result for end 2012 and the PCAR result for end 2013.
For the purposes of meeting the bank's capital requirement under PCAR an Extraordinary General Meeting will be held on 20 July 2011 to approve, inter alia, the issue of up to EUR3.4 billion of Ordinary Shares and EUR0.4 billion in Contingent Capital Notes to the Minister for Finance.
Full details of the results of the EBA stress tests for IL&P are available on the Group's website, www.irishlifepermanent.ie and are also published on the Central Bank of Ireland's web site www.centralbank.ie .
Contacts
Investor Relations
Barry Walsh
Tel: +353 1 704 2678
Orla Brannigan
Tel: +353 1 704 1345
Media
Ray Gordon, Gordon MRM
Tel: +353 1 665 0450
This information is provided by RNS
The company news service from the London Stock Exchange
END
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