SUBSTANTIAL and profound changes to banking regulation are needed to create a solid banking system, according to an industry watchdog.

THE proposed changes in financial regulation must send a clear signal to international markets that “Ireland is serious about repairing its regulatory system”.

The chief executive of Irish Life & Permanent plc has called on the Irish business community to increase the level of financial support it provides to Universities in Ireland in order to support the future success of the economy and the broader society.

The Iseq index of shares has continued its poor week as speculation grows that Ryanair have made another move for Aer Lingus by buying shares in Aer Lingus.

Irish Life & Permanent plc have announced the appointment of Denis Casey as group chief executive designate of the group.

Irish Life & Permanent plc has announced financial results for the first half of 2006.

FORMER Permanent TSB chief executive Brian McConnell left the bank with a “termination payment” of €464,000, it emerged yesterday.

The ISEQ fell 45.43 points to 7811.1 today.

AFTER a 9% rise in 2005 operating profits, IL&P is poised for another strong year. Banking arm, Permanent TSB, is winning the account war with 67,000 new customers last year.

IRISH Life & Permanent reported a 32% boost to pre-tax profits to €270 million for the first half of 2005, over the same period last year.

Irish Life and Permanent have announced an increase in profits for the first six months of this year.

IRISH Life & Permanent is on course to meet all its targets for this year, buoyed by the strong Irish economy and a labour market that rose 70,000 in 2004.

Ian Guider

The ISEQ managed to hold on to gains made in the morning to close up 26.65 at 6,056.60 today.

The chief executive of Irish Life & Permanent plc, David Went, has announced a number of changes to the group’s senior management team.

IRISH Nationwide Building Society chief executive Michael Fingleton was paid €1.32 million last year.

IRISH Life & Permanent chief executive David Went has joined the ranks of the €1 million a year executives with a total pay package of €1.025m.

INDIVIDUAL Irish banks have contributed to an undermining of trust in the Irish banking sector, Irish Life and Permanent group chief executive David Went has acknowledged.

PERMANENT TSB says it has been the biggest beneficiary from the opening up of the current account market.

IRISH Life & Permanent profits grew by 10% last year, helped by increased pension sales and a better outturn at its general insurance subsidiary.

Irish Life and Permanent has announced total after-tax profits of €411.2m, up 57% from €261.8m last year.

Irish Life & Permanent plc has announced that it will donate €100,000 to support relief efforts in Asia following the devastation caused in the region by this week’s earthquake and tsunami.

The businesses of Irish Life & Permanent “continue to thrive” according to the Group Chief Executive David Went.

THE Irish banking sector is in a lot bigger trouble than people thought.

THE head of the country's fourth largest bank says the country’s reputation as a financial services centre is being damaged by constant criticism of the banking system.

Irish Life & Permanent chief executive David Went has made a strong defence of the banking sector in Ireland.

IRISH LIFE & Permanent (IL&P) beat market expectations yesterday when it reported first-half pre-tax profits of €192 million.

Irish Life and Permanent (ILP) have announced an underlying pre-tax operating profit growth of 15% to €185.8m in an interim report.

ANALYSTS are expecting an upbeat trading statement from Irish Life and Permanent, which could boost the share price, tomorrow.

DAVID WENT, the chief executive of Irish Life & Permanent, earned close to €1 million last year, according to its annual report for 2003.

The ISEQ index of Irish shares was down 30.95 points to €5370.32 ahead of the traditional Easter break.

According to the Irish Life & Permanent group's annual report chief executive David Went was paid an increase of €124,000 last year.

IRISH Life and Permanent reported a 10% fall in after tax profits for 2003 yesterday after a €47 million loss on the sale of its last American business.

Irish Life & Permanent (IL&P) has reported pre-tax profits of €261.8m for last year, nearly €30m lower than in 2002.

WHEN the Eircom dream turned to dust, thousands of novice shareholders walked away from the stock markets, many of them never to return.

BANK of Scotland Irish boss Mark Duffy has reacted angrily to the assault on the company by the Irish Bankers Federation and others in the banking sector.

INITIAL analysis of the impact of the 0.5% cut in ECB interest rates suggested the two big banks could lose €15m each if they passed on the full reduction to consumers.

IRISH Life & Permanent full-year results surpassed expectations, with pre-tax profits soaring to €358.2m compared to €79.1m in 2000.

BUY Irish Life and Permanent shares to get a 3.8% dividend in May, Dolmen Stockbrokers advised clients yesterday.

Irish Life & Permanent has revealed a 74% drop in profits after exiting its US operations and investing in its domestic business.

Irish Life & Permanent says its life business played a key role in raising group product earnings during 2000 by 17% to €266m.