Share trading in Irish banks will be temporarily suspended on the Irish Stock Exchange from tomorrow morning, it has been announced.

Anglo Irish is to cease as a brand, governor of the Central Bank Patrick Honohan has confirmed.

Dublin: Irish Life & Permanent (IL&P) and a consortium of private equity investors, led by Dublin-based house Cardinal Capital, have been confirmed as the final two bidders who will battle it out for control of the EBS Building Society, which is currently under state control.

IRISH Life & Permanent is still seen as the lead contender to buy EBS despite strong interest by three international consortia.

IRISH banks could come under pressure to be more forgiving with mortgage holders in difficulty if a bid by a US billionaire for EBS is successful.

THE sale of the EBS is being viewed as an ongoing process as no real progress has been made this week despite reports that veteran American investor Wilbur Ross is to take control of the lender.

BORROWERS at EBS building society face another hike of 0.6% on their mortgages before the year end, adding 1.2% to the cost of variable mortgages in 2010.