UK banks brace for property loan losses from Covid-19 economic hit

UK banks brace for property loan losses from Covid-19 economic hit

British lenders are bracing for a hit from commercial property loans as shopping centre developer Intu Properties becomes the first such firm to ask for emergency relief following the coronavirus outbreak.

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Record €600m in contactless payments made in May

Record €600m in contactless payments made in May

The average daily spend is an increase of 7% compared to the spending in February prior to the Covid-19 restrictions.

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New CEO Crowley plots Permanent TSB future after Covid-19 amid 'significant' pressure for bank

New CEO Crowley plots Permanent TSB future after Covid-19 amid 'significant' pressure for bank

New Permanent TSB CEO Eamonn Crowley has pledged there is a future for the mortgage bank in lending to small firms but said the fallout from Covid-19 crisis will be “significant” as it again faces some sort of increase in home loan arrears when the payment breaks for 10,000 customers come to an end.

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Unfilled credit gap of nearly €1 billion in potential loans to Irish farmers revealed

Unfilled credit gap of nearly €1 billion in potential loans to Irish farmers revealed

There’s an unfilled credit gap of nearly €1 billion in potential loans to Irish farmers, according to an EU-funded study of financial needs.

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Banker chief: Politicians must not interfere in loan decisions

Banker chief: Politicians must not interfere in loan decisions

Politicians should not get involved in banks' loan decisions, the head of the Irish Banking and Payments Federation (IBPF) says.

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Hertz creditors face tough choices in coming weeks

Hertz creditors face tough choices in coming weeks

Hertz Global Holdings' creditors were offered two bad choices when hammering out a deal to keep it out of bankruptcy: Cut the 102-year-old company some slack and hope it recovers, or let it slip into insolvency and try to recoup their investment in sales of its devalued rental fleet.

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Donohoe to ‘follow up’ on banks over mortgage loan issues

Donohoe to ‘follow up’ on banks over mortgage loan issues

Finance Minister Paschal Donohoe has pledged to investigate if banks are withdrawing mortgage loan offers because workers are part paid by the state wage subsidy scheme.

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AIB said it will refund customers 'unpaid charge' fees

AIB said it will refund customers "unpaid charge" fees

The unpaid charge to be refunded is €10 per item and is applied when there is insufficient funds in a customer’s account.

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Bank of Ireland increase payment limit on contactless cards to €50

Bank of Ireland increase payment limit on contactless cards to €50

Yesterday, AIB was heavily criticised for charging fees on the accounts of people who have lost their jobs during the coronavirus crisis.

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Man who unearthed tracker mortgage scandal says consumers should receive two month Covid-19 bills amnesty

Man who unearthed tracker mortgage scandal says consumers should receive two month Covid-19 bills amnesty

A financial adviser who played a major role in uncovering the €1bn tracker mortgage scandal has called for “all payments, bills and direct debits” to be stopped for two months.

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Irish State raises €1bn in cheapest cost in its history, in silver lining to Covid-19 crisis

Irish State raises €1bn in cheapest cost in its history, in silver lining to Covid-19 crisis

It came as the National Treasury Management Agency -- the States' debt office -- sold €1bn of debt payable in 2029 at a negative interest rate of around 0.15%.

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Financial Services Union seek gender pay gap data from all Irish retail banks

Financial Services Union seek gender pay gap data from all Irish retail banks

Bank of Ireland announced a target to establish 50:50 gender balance in appointments to senior management and leadership by 2021.

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UK's new bank levy will fund anti-money laundering

UK's new bank levy will fund anti-money laundering

The British Treasury will also throw another £14 million at Companies House.

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AIB customers to be charged for 'contactless' payments from May

AIB customers to be charged for 'contactless' payments from May

From May 30, the bank is also introducing a quarterly maintenance fee of €4.50 for current accounts.

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Men paid 24% more than women in Bank of Ireland

Men paid 24% more than women in Bank of Ireland

Men are paid 24.2% more than women in Bank of Ireland as the organisation publishes details of its gender pay gap.

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The Irish Examiner View: Ballyhea says enough

The Irish Examiner View: Ballyhea says enough

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.

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Letters to the Editor: Final march for bank-debt injustice at Ballyhea

Letters to the Editor: Final march for bank-debt injustice at Ballyhea

On Wednesday, the Ballyhea Says Know campaign presented a report ‘The Eurozone Crisis — Was the Euro Itself A Primary Cause?’ to the GUE-NGL group in the European Parliament in Brussels.

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AIB is to cut 1,500 staff by 2022

AIB is to cut 1,500 staff by 2022

AIB had about 9,500 staff at the end of 2019. Most of the cuts will come from teams working on reducing the bank’s bad loans and “head office” type job.

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Central Bank fines Ulster Bank €4.6m over mortgage arrears

Central Bank fines Ulster Bank €4.6m over mortgage arrears

The Central Bank has slapped a €4.6m fine on Ulster Bank over its failure to compile and submit statistics under a former mortgage arrears agreement.

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John Daly: The ABCs of paying your bill by phone

John Daly: The ABCs of paying your bill by phone

After a dinner in London the other week, with younger acquaintances, I unexpectedly experienced the fresh wind of progress.

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Jobs at risk at HSBC with 27 branches set to close

Jobs at risk at HSBC with 27 branches set to close

The banking giant will keep 594 branches open across the country.

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HSBC profit plummets by 33% to €12bn

HSBC profit plummets by 33% to €12bn

The bank says parts of its business are not performing well enough.

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Bank not allowed write off tax bill

Bank not allowed write off tax bill

The Tax Appeals Commission has dismissed an appeal by a retail bank that it could use its trading losses to write off a tax bill for almost €1.5m on rental income from repossessed properties.

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Royal Bank of Scotland rebrands and hands special dividend to UK taxpayers

Royal Bank of Scotland rebrands and hands special dividend to UK taxpayers

The Royal Bank of Scotland group is changing its name to NatWest.

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KBC Bank tracker bill likely to top out at €143m at 3,769 cases

KBC Bank tracker bill likely to top out at €143m at 3,769 cases

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.

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Bank who overcharged interest is ordered to pay €35,000 compensation

Bank who overcharged interest is ordered to pay €35,000 compensation

The Financial Services and Pensions Ombudsman (FSPO) upheld almost half of all complaints it formally investigated in 2019 issuing legally binding decisions in the banking, insurance and investment sectors.

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Central Bank calls for cut to government debt

Central Bank calls for cut to government debt

The Central Bank, the Parliamentary Budget Office, and the world’s largest ratings firms have all urged the next government to avoid pumping up spending that could lead to a new crash.

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Central Bank urges grip on public spending

Central Bank urges grip on public spending

The Central Bank has urged the next government to keep a firm grip on public spending and reduce public sector debt.

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Lagarde makes her mark on ECB as she introduces subtle changes

Lagarde makes her mark on ECB as she introduces subtle changes

The European Central Bank president has promised to listen more to policymakers but expects discipline in return, writes Balazs Koranyi, Francesco Canepa, and Frank Siebelt.

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ECB's Lagarde urges Europe to spend more

ECB's Lagarde urges Europe to spend more

ECB president Christine Lagarde said her institution’s loose monetary policy is hitting savers and stoking asset prices, as she called on governments to do more to boost the economy.

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Irish Examiner View: Banks’ hubris all too obvious

Irish Examiner View: Banks’ hubris all too obvious

It is all too easy to imagine bankers at a corporate golf outing sneering at their customers’ complaints.

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Oliver Mangan: With low-interest rates, opportune time to ramp up public investments on climate change

Oliver Mangan: With low-interest rates, opportune time to ramp up public investments on climate change

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.

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Danske offers 2,000 staff option to leave bank

Danske offers 2,000 staff option to leave bank

Danske Bank is offering 2,000 of its employees in Denmark the option of stepping down as the cost of adapting to a world with stricter regulations and negative interest rates just keeps growing.

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Abu Dhabi fund cuts stake in Italy's UniCredit bank

Abu Dhabi fund cuts stake in Italy's UniCredit bank

Abu Dhabi sovereign wealth fund Mubadala more than halved its shareholding in Italian bank UniCredit as the holder of about 6% of the world’s oil reserves sells stakes in overseas assets.

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Ferdinando Giugliano: How bailing out bankers has become all the rage again

Ferdinando Giugliano: How bailing out bankers has become all the rage again

Politicians agreed on a rulebook for recapitalising banks after €600bn was spent saving them. But so many exemptions now make it worthless, says Ferdinando Giugliano.

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Yanis Varoufakis: The problem isn’t Christine Lagarde. The problem is the ECB

Yanis Varoufakis: The problem isn’t Christine Lagarde. The problem is the ECB

Yanis Varoufakis says Mario Draghi’s stewardship of the ECB was blighted by the constraints he worked under — and the same problem faces his successor.

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TSB apologises after payment glitch leaves UK customers without wages

TSB apologises after payment glitch leaves UK customers without wages

The lender said a ‘small number’ of people have been affected.

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Germany to avoid recession, says bank

Germany to avoid recession, says bank

Growth in Germany, Europe’s biggest economy, will remain weak in the fourth quarter but there is no reason to fear a recession and there are signs that prospects for its vast industrial sector may be stabilising, the Bundesbank said.

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Fears of new banking charges scandal as interest may have been overcharged on insurance products

Fears of new banking charges scandal as interest may have been overcharged on insurance products

Irish banking faces another overcharging scandal, as EBS investigates the way it has bundled charges for building and life insurance payments and mortgage protection insurance into its monthly mortgage bills.

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KBC boss apologises for 'insensitive' comments on trackers

KBC boss apologises for 'insensitive' comments on trackers

KBC Group CEO Johan Thijs has issued an apology for comments he made yesterday which drew a strong political response.

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KBC Bank ‘committed’ to Ireland as top boss expresses impatience over tracker probe

KBC Bank ‘committed’ to Ireland as top boss expresses impatience over tracker probe

The chief of KBC Bank Ireland has said its parent is “absolutely committed” to staying in Ireland even as the top boss of the Belgian group expressed impatience with the long-running Central Bank review into

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Centuries-old bank vaults to give up their treasures

Centuries-old bank vaults to give up their treasures

Valuable and historically important items currently held in bank vaults are to be handed over to the State under new laws being drawn up.

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Savvi CU fined over pay and breaking loan rules

Savvi CU fined over pay and breaking loan rules

The Central Bank said it has slapped a fine of €185,500 on Savvi Credit Union, one of the country’s largest credit unions, after investigating that it paid a director and breached long-term lending guidelines.

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Bill will help tackle white collar crime and clean up finance suggests Minister

Bill will help tackle white collar crime and clean up finance suggests Minister

Finance Minister Paschal Donohoe has insisted senior bankers and financial sector officials will face fines, bans and potential disqualification from roles under new financial transparency rules.

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Banks called out on fees

Banks called out on fees

Any interest wrongly charged to mortgage borrowers in arrears over legal fees should be reimbursed, according to Fianna Fáil finance spokesman Michael McGrath.

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As Draghi leaves, markets row back on future ECB rate cut bets

As Draghi leaves, markets row back on future ECB rate cut bets

President Mario Draghi’s final meeting as head of the ECB last week saw the Governing Council keep policy unchanged.

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Letter to the Editor: Review of banks’ role in crisis must be honest

Letter to the Editor: Review of banks’ role in crisis must be honest

Brian Hayes (Irish Examiner, October 24) has morphed into an apologist for the banks and bankers. He paints a picture of them as benign bystanders in the chaos following the financial crash of 2008.

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Ulster Bank fixes technical glitch that stopped social welfare payments for 10,000 customers

Ulster Bank fixes technical glitch that stopped social welfare payments for 10,000 customers

Ulster Bank has said that they have fixed the technical glitch which had stopped around 10,000 social welfare payments today.

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Barclays posts higher profits despite £1.4bn PPI charge

Barclays posts higher profits despite £1.4bn PPI charge

The bank increased adjusted pre-tax profit by 16% to £1.8bn for the three months to September.

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RBS swings to a loss after £900m PPI hit

RBS swings to a loss after £900m PPI hit

The lender posted pre-tax operating losses of £8 million for the three months to September 30, down from £961 million a year ago.

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Irish banks commit to the bereaved

Irish banks commit to the bereaved

Five Irish banks will each set up a phone line to help the bereaved access funds to pay for funerals for their loved ones.

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Tony Spollen was an unwitting yet vital cog in exposing rotten heart of banking culture

Tony Spollen was an unwitting yet vital cog in exposing rotten heart of banking culture

Tony Spollen did his job in Allied Irish bank without fear or favour, exposing fraudulent practice irrespective of the consequences for himself, writes Michael Clifford

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Barclays halts ‘last in town’ and remote branch closures in UK for two years

Barclays halts ‘last in town’ and remote branch closures in UK for two years

The bank will also launch a new cashback scheme – but said a facility allowing customers to withdraw cash over the counter at Post Offices will end.

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ECB is creating a monster with zero interest rate policy

ECB is creating a monster with zero interest rate policy

Depositors and investors will, by now, realise that the zero interest rate policy being pursued by the European Central Bank (ECB) is having a disastrous effect on pensions, savings and investments.

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Giving the banks a run for their money

Giving the banks a run for their money

As a population we have grown accustomed to having everything at the touch of a button, an instant society, so why should our banking be any different?

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Banks raise concerns ahead of ECB meeting

Banks raise concerns ahead of ECB meeting

European banks have stepped up their protest against rock-bottom interest rates ahead of this week’s ECB meeting, which is expected to underpin a policy that tramples their profits and has even pushed some to offer free loans.

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Lobby group defend banks' sale of customer loans to vulture funds

Lobby group defend banks' sale of customer loans to vulture funds

One of the chief lobby groups for the banking sector has defended the controversial and divisive practice of the State's main lenders selling non-performing loans - or NPLs - to so-called vulture funds.

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Financial institutions urged to protect firms against money laundering

Financial institutions urged to protect firms against money laundering

It is estimated that between 2-5% of global GDP is laundered each year – between €715 billion and €1.87 trillion.

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Revolut banking app hit by technical issues

Revolut banking app hit by technical issues

Revolut customers were left unable to use features of their banking apps today due to technical issues.

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