Banks fail to throw lifelines to struggling firms

BANK of Ireland’s trading statement yesterday contained no talk about the green shoots of recovery appearing any time soon.

More to the point, outgoing chairman Richard Burrows warned an impairment charge of €6 billion in the three years through to 2010 could increase if economic conditions get any worse.

Earlier its trading statement, released in advance of the AGM, said the economic environment continued to be difficult and demand for lending was weak.