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Bank of Ireland 2012 Results : €2.1 billion loss


gerhard dengler

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RahenyFG

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Should those with a current account with BOI be worried?
 

Niall996

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Even if the state could keep that 2billion instead of giving it to BOI who will in turn give it to the German Banks who made a collosal fuchup themselves, we'd waste at least half of it on rubbish stuff.
 

Sync

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Bank of Ireland has reported an underlying loss before tax of €1.5 billion for 2012, a decrease of 2 per cent on 2011.

BoI losses fall to €1.5 billion - The Irish Times - Mon, Mar 04, 2013

Somebody's got it wrong....


BTW:
The decline in margin reflected the relatively high cost of customer deposits, and the “continuing negative impact of historically low official interest rates on earnings from certain of the group’s assets”, chief executive Richie Boucher said, adding, “re-building the net interest margin is one of the group’s key priorities”.
Who speaks like this? Is this how CEOs speak? No. If you've a problem with tracker mortgages, just bloody say it. Also:

“re-building the net interest margin is one of the group’s key priorities”.
That's as clear a message as you'll ever get that the next time an opportunity comes, they're upping your mortgage rate.

Interesting note on the plight of mortgage holders:
The proportion of buy to let mortgages in arrears increased to 23.36 per cent as of end December, compared to 20.77 per cent on June 30th 2012 and 16.81 per cent on December 31st 2011
That's a 35% increase in the number of buy to let mortgages in trouble in 14 months.
 
Last edited:

Howya

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Bank of Ireland reports loss of

The best banking pupil in the Irish banking class lost €2.1 billion in 2012 according to their annual report.
I can't locate their annual report on line but the above link tells it's own story.

In 2011 and 2010, BOI made a profit of €40 million and a loss of €609 million respectively.
http://www.bankofireland.com/fs/doc/wysiwyg/boi-annual-report-2011-web.pdf (page 174).

Link to report
http://www.rns-pdf.londonstockexchange.com/rns/1147Z_-2013-3-4.pdf
 

Howya

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Bank of Ireland has reported an underlying loss before tax of €1.5 billion for 2012, a decrease of 2 per cent on 2011.

BoI losses fall to €1.5 billion - The Irish Times - Mon, Mar 04, 2013

Somebody's got it wrong....


BTW:


Who speaks like this? Is this how CEOs speak? No. If you've a problem with tracker mortgages, just bloody say it. Also:



That's as clear a message as you'll ever get that the next time an opportunity comes, they're upping your mortgage rate.
the preliminary statement shows 2.166bn loss
 

Analyzer

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Howya

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And operating profit went from 413m in 2011 to 242m in 2012

Impairment charges went from 1.9bn in 2011 to 1.7bn in 2012 - so still taking big hits on the loan front
 

ShoutingIsLeadership

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That's as clear a message as you'll ever get that the next time an opportunity comes, they're upping your mortgage rate.
5pm on the Friday of a very big sporting, Easter or bank holiday weekend.
 

gerhard dengler

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Bank of Ireland has reported an underlying loss before tax of €1.5 billion for 2012, a decrease of 2 per cent on 2011.

BoI losses fall to €1.5 billion - The Irish Times - Mon, Mar 04, 2013

Somebody's got it wrong....


BTW:


Who speaks like this? Is this how CEOs speak? No. If you've a problem with tracker mortgages, just bloody say it. Also:



That's as clear a message as you'll ever get that the next time an opportunity comes, they're upping your mortgage rate.

Interesting note on the plight of mortgage holders:

That's a 35% increase in the number of buy to let mortgages in trouble in 14 months.
RTE reporting BOI €2.1 billion loss in 2012.
Irish Times is saying €1.5 billion loss in 2012.

Howya's link http://www.rns-pdf.londonstockexchange.com/rns/1147Z_-2013-3-4.pdf shows a loss €1.82 billion

Let's take €1.82 billion result - after tax - as being correct.
 

Analyzer

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RTE reporting BOI €2.1 billion loss in 2012.
Irish Times is saying €1.5 billion loss in 2012.
Given their previous track records.....it is possible that they are both incorrect.
 

niall78

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Neither did anybody in senior management at BoI.
I'm starting to think that advert was for the senior management in the banks. The general public had no problem understanding the benefits of tracker mortgages, it was the managers who didn't have a clue about the risks associated with them to their banks.
 

Analyzer

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Bank of Ireland has reported an underlying loss before tax of €1.5 billion for 2012, a decrease of 2 per cent on 2011.

BoI losses fall to €1.5 billion - The Irish Times - Mon, Mar 04, 2013

Somebody's got it wrong....


BTW:


Who speaks like this? Is this how CEOs speak? No. If you've a problem with tracker mortgages, just bloody say it. Also:



That's as clear a message as you'll ever get that the next time an opportunity comes, they're upping your mortgage rate.

Interesting note on the plight of mortgage holders:


That's a 35% increase in the number of buy to let mortgages in trouble in 14 months.
Sync - I think you are on to something here.

Boucher, was head of the Ireland division of BoI, in the binge era. That is the division that reported most of the damage in later years.

And they promoted him, for his "performance". Which did not consist of Boucher sticking his head out and saying something different from the (flawed) consensus in Irish banking.

He is fudging. Again.
 

Radix

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the preliminary statement shows 2.166bn loss

It really needs to be higher at this stage of the bust, reflective of a greater level of write offs of debts which people haven't a hope of ever getting on top of. People will become usefully productive again if they are given some sort of hope, and there is still far too little of that for a recovery from our excessive credit fuelled binge.
 
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