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Wednesday 8 February 2023 Dublin: 9°C

# The Banks

Last year
2022
# The Banks
Exiting Ulster Bank gives customers six-month 'deadline' to repay their overdrafts
But bank officials said the lender will remain flexible and urged customers having difficulties to come forward immediately.
# The Banks
Competition authority launches full probe into Permanent TSB's €7.6 billion Ulster Bank deal
The investigation will determine whether the proposed acquisition could lead to a substantial lessening of competition in the State.
# The Banks
Flurry of announcements caps off noteworthy week for Irish banks and their customers
Stakeholders say the industry is staring down the barrel of one of the biggest logistical challenges in its history.
THE MORNING LEAD
Is your bank exiting the market? Take action soon, experts say. Here's what you need to know
A report by
Ian Curran
Ulster Bank and KBC Bank are in the process of winding down their Irish operations as announced last year.
Ulster Bank and KBC Bank are in the process of winding down their Irish operations as announced last year.
Concerns have been raised in recent months about the scale of the logistical challenges involved.
Consumer experts say customers have time to sort out new arrangements but they should "take action" soon.
# The Banks
Ulster Bank gives current and deposit account customers six months' notice to switch providers
Separately, KBC Bank announced yesterday that from June, customers will get 90 days’ notice to move their accounts.
THE MORNING LEAD
Banks 'ill-prepared for the biggest logistical challenge in Irish banking since the euro'
A report by
Ian Curran
Concerns have been raised that the exits of Ulster Bank and KBC Bank could be “the perfect storm” for the remaining banks.
Concerns have been raised that the exits of Ulster Bank and KBC Bank could be "the perfect storm" for the remaining banks.
Over one million customers will have to choose a new provider and switch over their current accounts.
But the Financial Services Union believes significant customer service issues are likely to arise, Ian Curran reports.
Is your bank exiting the market? Take action soon, experts say. Here's what you need to know
# The Banks
Ulster Bank to write to customers, giving them six months to close current and deposit accounts
It’s part of the NatWest-owned bank’s phased withdrawal from the market in the Republic of Ireland, announced in February 2021.
# The Banks
Bank of Ireland reports a pre-tax profit of €1.4 billion for 2021
Bank of Ireland CEO Francesca McDonagh said it delivered its “strongest performance since the global financial crisis”.
All time
# The Banks
State to sell 15% chunk of its AIB stake over the next six months, Donohoe announces
The plan is similar to the one used by the Government to sell part of its remaining bailout-era stake in Bank of Ireland.
# The Banks
Bank of Ireland fined €24.5 million for IT failures that had potential 'serious' customer impact
The failures could have led to customers being denied access to basic banking services.
# Central Bank
Regulator to pursue former Permanent TSB executive in first individual tracker mortgage probe
The bank reached a €21 million settlement with the Central Bank in 2019 in respect of 42 regulatory breaches.
# Sean FitzPatrick
Anglo's collapse has had an outsized impact on Irish life and so will Seán FitzPatrick's legacy
The former chairman of the collapsed bank never felt he had anything to apologise for.
# The Banks
Competition watchdog launches full probe of Bank of Ireland proposal to buy KBC Bank loans
The CCPC said an in-depth investigation was required to determine whether the deal would weaken competition.
# The Banks
Any return of bonuses for top bankers 'would not be acceptable' to staff and public
The FSU has sought a meeting with Paschal Donohoe over plans to sell the State’s stake in Bank of Ireland.
# big deal
Bank of Ireland buys most of Davy Group for €440 million
The firm was put up for sale earlier this after being rocked by a €4.1 million regulatory fine.
# The Banks
Ireland's bank network 'is being destroyed' says FSU after AIB announces 15 branch closures
AIB cited the “unrelenting shift” to digital banking as one of the reasons for the branch cull.
# The Banks
Hundreds of jobs in Dublin to go as Deutsche Bank moves to cut its Irish workforce
Some 250 full-time roles will be relocated while a number of contractor jobs will be cut altogether.
# The Banks
Banking on the short-term — The government is selling 'part' of its 13.9% stake in Bank of Ireland. But why now?
Finance minister Paschal Donohoe announced the six-month sale process yesterday.
# Road To Recovery
House prices, debt and uneven recovery: What are the biggest risks to the Irish economy according to the Central Bank?
“A clearer path to recovery” has become visible in recent months.
# The Banks
'Lingering resentment': Public trust in Irish banks remains low after 2008
But trust levels have improved substantially among younger customers since the crash.
# The Banks
Ulster Bank topped the Financial Ombudsman's complaints table in 2020 for the second year in a row
The watchdog also received 492 new complaints about tracker mortgages in 2020.
# The Banks
Ulster Bank fined €37.8 million for its 'unacceptable' handling of tracker mortgage scandal
It’s the largest fine the Central Bank of Ireland has ever handed out.
# davy sale
'Breaking the link': Ireland's corporate accountability regime set for major overhaul in the wake of Davy scandal
The Central Bank wants an expanded regulatory toolkit to tackle individuals.
# The Banks
Permanent TSB reports a pre-tax loss of €166 million in 2020 as Covid hits new lending
The 75% State-owned bank took a loan impairment charge of €155 million.
# The Banks
'A landmark deal': AIB agrees to buy stockbrokers Goodbody for €138 million
The bank says the move will diversify its revenue streams and address gaps in its customer offerings.
# The Banks
Here's the full list of 103 Bank of Ireland branches set to shut across the island
The branch network in Ireland will reduce from 257 to 169 and from 28 to 13 in Northern Ireland.
# The Banks
Central Bank to ensure Ulster Bank customers are treated fairly, as it moves to pull out of Ireland
The bank is already in discussions with PTSB over the sale of Irish assets.
Ulster Bank said this morning that the move won’t mean an immediate change for customers
Staff are "deeply disappointed" by the decision to wind down Ulster Bank in Ireland
Minister for Finance Paschal Donohoe called it a "difficult day" from an Irish banking perspective and for Ulster Bank staff
# The Banks
Ulster Bank exit is 'not good news for Ireland', says Taoiseach
The Government’s priority is to protect the 2,800 workers affected by the decision, Micheál Martin said.
# Ulster Bank
Ulster says go: Bank's decision to exit was in the wind — but why is it happening now?
Ulster Bank’s long goodbye creates major headaches for policymakers.
# The Banks
Government to explore creating a 'third force' in Irish banking if Ulster Bank exits Irish market, says Varadkar
A formal announcement is expected on Ulster Bank’s operations in the Republic of Ireland tomorrow.
# bpfi
Banking Federation says capital requirements here are making lending and mortgages more expensive
Irish mortgage applicants face some of the highest interest rates in Europe.
# The Banks
Irish banks want to take on Revolut together — but why has the competition watchdog 'rejected' them?
Why has it taken so long for Irish banks to address competition from fresh-faced fintech companies?
# ECB
Hopes for a swift economic recovery in 2021 have faded, says ECB
A resurgence of the virus has weakened euro area growth forecasts.
# The Banks
KBC Bank pushed into €41 million loss for 2020 despite positive third quarter figures
However, the Belgian-owned bank saw a ‘record number’ of mortgage applications in the third quarter.
# The Banks
Ulster Bank tells Donohoe 'no decision' yet taken on its future amid reports it could be wound down
The Minister for Finance met with representatives from Ulster Bank today.
# tracker mortgages
Banking Culture Board not commenting on individual reports after KBC's €18.3 million fine
Central Bank investigations into three other banks are ongoing.
# The Banks
KBC Bank fined €18.3 million by the Central Bank over tracker mortgage scandal
The Central Bank said the impact on customers was ‘devastating’.
# The Banks
Ulster Bank plans to cut 266 jobs to reduce costs
The bank suffered a loss of €276 million in the first six months of the year.
# The Banks
Union seeks 'urgent' WRC intervention over Bank of Ireland's plan to cut workforce by 1,400
The Financial Services Union has written to the WRC seeking conciliation.
# The Banks
'There are people working in their bedrooms keeping the banking system going and this is their reward'
Bank of Ireland redundancies ‘surprised’ the general secretary of the Financial Services Union.