Wednesday 25 May, 2022
The exit of KBC and Ulster Bank will whittle Ireland’s number of retail banks from five down to just three.
The original timeframe was 90 days.
Ulster Bank is set to withdraw all of its banking services from Ireland.
Both Ulster Bank and KBC Bank are winding down their operations in Ireland.
McDonagh joined Bank of Ireland in October 2017 as Group Chief Executive Officer.
The bank will pay out €213 million to shareholders, including the State.
Bank of Ireland CEO Francesca McDonagh said it delivered its “strongest performance since the global financial crisis”.
Swift is a discreet but important cog in the machinery of international finance.
it conducted a review of the five main retail banks.
The issue has since been resolved.
Mortgages drawn down in 2021 were worth a total of €10.5 billion, the highest value since 2008.
The bank will also acquire Business Direct and Lombard Asset Finance loan business under the deal.
The bank has committed to giving up to six months notice of its departure in 2022.
Barclays, Royal Bank of Scotland, HSBC and Credit Suisse all received fines.
The review will also assess submissions on the salary cap for bankers.
Ulster Bank has over one million customers, along with 2,800 staff and 88 branches across the country.
The number of new phishing websites detected by the bank’s fraud prevention team has doubled since last month.
The move will see 280 Ulster Bank employees move over to AIB as part of the deal.
The sale is to happen through a pre-arranged trading plan that will be managed by Citigroup Global Markets.
Vasileios Madouros of the Central Bank says a fresh review of its mortgage lending measures will include submissions from the public.
Last month, the bank confirmed plans to close 88 branches in Ireland and 15 branches in Northern Ireland.
The Sinn Féin TD says the move leaves the future of the Irish banking sector uncertain.
The Financial Services Union will request an “urgent meeting” with the banks.
Fianna Fáil senator Malcolm Byrne says traditional banking is clearly disrupted and it’s important we get ahead in education and upskilling to cope with the changes.
Bank of Ireland is to appear before an Oireachtas Finance Committee this afternoon.
Buy-to-let investors now account for less than 1% of mortgages, compared to 20% in 2006, according to new figures.
Green Party and Fianna Fáil TDs are calling for the government to revisit the idea of community banking.
That’s according to figures released by the Banking & Payments Federation Ireland today.
Ulster Bank and NatWest were heavily criticised by TDs for its treatment of staff.
The bank will be wound down gradually over the next few years.
Irish mortgage applicants face some of the highest interest rates in Europe.
Around 2.1 million people used contactless payments each day last month.
The app, Synch Payments, hit a roadblock last week.
Cillian Doyle says there are positive international examples of how large banks taken into public ownership can work better for customer, environment and economy.
The CCPC was notified of the proposal from AIB, BOI, KBC and Permanent TSB earlier this month.
The CCPC was notified of the proposal from AIB, BOI, KBC and Permanent TSB last Friday.
The bank said it aims to achieve over 10% reduction in costs by 2023.
Eoin McGee says he’s suspicious of the motives of Ireland’s banks who agreed to offer mortgage payment breaks to customers in March.
A new campaign aims to highlight the dangers for teens and encourage their parents to look out for red flags.
