Finance Department directs board to open talks

THE Educational Building Society (EBS) will start merger talks with the Irish Nationwide Building Society (INBS) this week, says EBS boss Fergus Murphy.

Finance Department directs board to open talks
Tue, 24 Nov, 2009 - 00:00
Brian O’Mahony and Geoff Percival

His comments confirm weekend reports that the Department of Finance had instructed the board of Irish Nationwide to start merger talks with the EBS.

The EBS chief added the group will require additional state funding of €100 million to secure its capital base.

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CourtsPlace: IrelandPerson: Fergus MurphyPerson: MurphyPerson: Finance MinisterPerson: Brian LenihanPerson: LenihanEvent: ACOIOrganisation: Finance DepartmentOrganisation: the Educational Building SocietyOrganisation: EBSOrganisation: Irish Nationwide Building SocietyOrganisation: INBSOrganisation: Department of FinanceOrganisation: Irish NationwideOrganisation: Association of Compliance OfficersOrganisation: Irish Life & PermanentOrganisation: IL&POrganisation: NAMAOrganisation: EBS/INBS
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