‘Poised for years of growth’

SHAREHOLDERS of Irish Life & Permanent (IL&P) have been told the next two years will see the group’s structure “dramatically changed”, after which the business will be “poised for years of growth.”

The message came from group chairperson Gillian Bowler, who also told the 500 present at Dublin’s RDS that “the journey to recovery is well underway”.

In responding to the findings of an external study into the group’s corporate governance framework – prompted by IL&Ps lending to Anglo Irish Bank at the tail end of last year – Irish Life will upgrade its risk management structure to make it impossible for such transactions to get past the board undetected, in future.