The Governor and Company of the Bank of IrelandNYSE
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  • Jul. 31, 2015, 8:12 AM
    • Bank of Ireland (NYSE:IRE): 1H underlying Net profit of €743M.
    • Net interest income of €1.22B (+5% Y/Y).
    | Jul. 31, 2015, 8:12 AM
  • Mar. 30, 2015, 2:49 PM
    • Prem Watsa's Fairfax Financial (OTCQB:FRFHF) - along with Wilbur Ross - stepped into Bank of Ireland (IRE, OTCPK:IREBY) when it was teetering on failure in 2011, and has hired Deutsche to place 935M shares, which would whittle its stake in half to 2.9% of the lender.
    • Fairfax will be selling the stock for almost four times what it paid.
    • Ross and Fairfax sold about 2B shares in the bank about a year ago, and Ross exited his stake completely in June.
    | Mar. 30, 2015, 2:49 PM | 1 Comment
  • Jan. 29, 2015, 9:12 AM
    | Jan. 29, 2015, 9:12 AM | 2 Comments
  • Dec. 9, 2014, 1:18 PM
    • Affirming Bank of Ireland's (IRE -2.4%) BB+/B counterparty credit ratings, S&P lifts its outlook two notches - from negative to positive, "Reflect(ing) our view of decreasing economic risks for Irish banks." Nevertheless, the stock is lower on the session alongside a sizable selloff for all of Europe.
    • "We believe that banking system credit losses resulting from Ireland's continued correction of economic imbalances accumulated before the crisis are declining and will pose less of a risk to sector profitability over the next two to three years than we had previously anticipated."
    • S&P last week upgraded Ireland's credit rating.
    | Dec. 9, 2014, 1:18 PM | 1 Comment
  • Aug. 18, 2014, 3:47 AM
    • Eurozone banks are expected to borrow about €250B in cheap four-year money from the European Central Bank in September and December under the ECB’s "targeted long-term financing operations".
    • The new loans would come on top of the more than €1T in cheap finance the ECB pumped into the financial system between late 2011 and 2012 to avert a financial crisis.
    • The new funds are expected to boost lending to the region’s credit-starved businesses.
    • Europe’s economic outlook has not been pretty. Last week, figures outlined a slowdown in Germany and France and Italy in recession.
    • Related stocks: SAN, DB, IRE, CS, ING, BBVA, BCS, RBS, HSBC, LYG
    • ETFs: EUFN
    | Aug. 18, 2014, 3:47 AM | 3 Comments
  • Jul. 29, 2014, 5:41 PM
    • Top gainers, as of 5:15 p.m.: ZLTQ +23.6%. MM +17.4%. RUBI +15.9%. ECYT +11.8%. RNG +11.0%.
    • Top losers, as of 5:15 p.m.: MMSI -11.1%. NTRI -9.4%. DWA -8.7%. IRE -6.8%. BWLD -6.4%.
    | Jul. 29, 2014, 5:41 PM | 3 Comments
  • Jul. 17, 2014, 4:54 AM
    • Prior to its takeover of European bank supervision on November 4, the ECB will release collections of data on the euro zone's 128 most important lenders to insure the banks can withstand future crises.
    • The published review in the second half of October will outline leverage measures, standardized ratios of non-performing loans and other statistics, giving the banks only two weeks to come up with plans to deal with capital shortfalls.
    • Related stocks: SAN, DB, IRE, CS, ING, BBVA, BCS, RBS, HSBC, LYG
    • ETFs: EUFN
    | Jul. 17, 2014, 4:54 AM
  • Jul. 10, 2014, 9:44 AM
    • When the going gets tough, the tough suspend trading. Portugal has halted trade in Banco Espirito Santo with the stock off 17.2% on the session and 54% over the last month. At issue are financial troubles for the bank's privately-owned holding company, Espirito Santo International. Its accounts are currently under review by an external auditor who has identified irregularities and concluded the company "is in serious financial condition."
    • Santander (SAN -5.8%), UBS (UBS -1.8%), Deutsche Bank (DB -3.1%), Bank of Ireland (IRE -5.6%), Credit Suisse (CS -2.8%), ING (ING -3.2%), BBVA (BBVA -3.1%). U.K. banks: Barclays (BCS -3.8%), RBS (RBS -1.9%), HSBC (HSBC -1.9%), Lloyds (LYG -2%).
    • European financial sector ETF: EUFN -2.4%.
    | Jul. 10, 2014, 9:44 AM | 7 Comments
  • Jun. 10, 2014, 7:18 AM
    • "The sale of Wilbur Ross’s remaining stake in Bank of Ireland (IRE), giving up the board seat which he held for just under three years, reinforces our view that there remains little in the way of incremental positive catalysts on the horizon," says Nomura. “Further overhang remains with over 60% of the shares in the hands of the top 10 investors, although most are in it for the long haul.”
    • Down nearly 4% in early action, Bank of Ireland is now off 2.5% in London action. The ADRs fell 2.1% in New York trade yesterday following the news.
    • Previously: Ross exiting rest of Bank of Ireland position
    | Jun. 10, 2014, 7:18 AM | 2 Comments
  • Jun. 9, 2014, 3:11 PM
    • Three years after his investment helped keep Bank of Ireland (IRE -1.6%) from being nationalized, Wilbur Ross is exiting his holdings. Ross cut his 9% stake down to 5.5% in March, and the current offering will bring it to zero. Sources say Ross will have doubled his money on the deal.
    • "At the heart of Wilbur Ross is a distressed investor," says analyst Ciaran Callaghan. "Bank of Ireland is no longer a distressed play."
    | Jun. 9, 2014, 3:11 PM | 5 Comments
  • Apr. 29, 2014, 9:39 AM
    • Capital shortfalls will need to be covered within six months for those lenders failing under the EBA's baseline stress test scenario, while banks failing under the adverse scenario will have nine months to fix things.
    • ECB Vice-President Constancio: "Banks should start to consider what private sources of capital could be raised as a result of this exercise and plan accordingly."
    • Earlier: The EBA unveils stress test criteria. 124 banks from 28 EU states are subject to the exams. Among the larger ones: DB, BNPQF, BNPQY, SCGLY, SAN, BBVA, UNCFF, UNCFY, IRE, NBG, CRZBY, CRARY.
    • European financial sector ETF: EUFN
    | Apr. 29, 2014, 9:39 AM
  • Mar. 4, 2014, 1:07 PM
    • Wilbur Ross and Fairfax Financial (FRFHF) paid about €0.10 per share when they acquired about an 18% stake in Bank of Ireland (IRE -6.6%) in 2011 to help prevent the lender's nationalization. Not unexpected given strong demand for the stock, today's sale whittles their holdings down to about 12%. The two have more than tripled their money with the investment.
    • The Irish government continues to hold a 14% stake in the bank and there will no doubt be heightened interest in an offering of these shares.
    | Mar. 4, 2014, 1:07 PM | 6 Comments
  • Mar. 4, 2014, 9:10 AM
    | Mar. 4, 2014, 9:10 AM | 4 Comments
  • Jan. 15, 2014, 11:57 AM
    • Good news could be in store for European banks as chatter says the ECB is considering just a 6% capital requirement in its stress tests as opposed to the 8% previously promised. A small number of countries aren't even satisfied with 6% and reportedly may press for a lower number.
    • Previous European bank stress tests are known mostly for giving passing grades to lenders who just a short while later required government bailouts.
    • Tails in the air today include: Santander (SAN +1.6%), Deutsche Bank (DB +2%), ING (ING +0.9%), BBVA (BBVA +3.4%), Bank of Ireland (IRE -0.6%), and Allied Irish Banks (AIBYY +6.3%).
    • Related ETF: EUFN
    | Jan. 15, 2014, 11:57 AM | 2 Comments
  • Jan. 6, 2014, 9:43 AM
    • The Irish government has hired banks to prep the first bond sale since exiting its EU bailout, reports Bloomberg.
    • The country did raise money from the bond markets last March, but was still involved in the bailout at that time.
    • Related ETFs and stock: EIRL, IRL, IRE
    | Jan. 6, 2014, 9:43 AM
  • Dec. 4, 2013, 11:20 AM
    • Talked about for some time now, Bank of Ireland (IRE -2.6%) today moved forward with a €580M equity raise to help fund the redemption of some of the government's preferred stake in the rescued lender. The move allows the bank to sidestep a 25% increase in the amount owed on the preferred stake had it not been redeemed by the end of March.
    • Ireland itself is hoping to exit its own bailout on December 15 and the successful share sale should help bolster that plan.
    | Dec. 4, 2013, 11:20 AM | 4 Comments