AIB has revealed that 2019 pre-tax profits fell by 60% to €499m. Though more or less €10m a week, the figure is down from 2018’s €20m-plus a week. Though all banks pay an annual levy the fact that they can, like all banks, write off losses against tax, meaning it will pay no corporation tax on profits for years to come, must soften the blow.
The final bill for KBC Bank Ireland for its part in the industry-wide tracker mortgage scandal is likely to settle around €143m and the number of cases for the bank is unlikely to rise significantly above the 3,769 accounts affected.
Last year, monetary policy returned to an easing mode, in response to a marked slowdown in global growth, and the IMF estimates that the monetary easing added 0.5% to world growth in 2019.
The Governing Council is dominated by state central bank governors, but it is not fair to suggest that they will prioritise national interests if they have to reveal how they ballot when deciding monetary policy, says