No loans to NAMA, but regulator to review ILP

THE Financial Regulator will carry out a review of Irish Life and Permanent’s operations, but the lender will not be selling any loans to NAMA because it largely avoided lending to developers.

The bank said it believes its current capital requirements are sufficient based on initial talks with the Regulator. Unlike the other Irish banks, ILP has been immune to the NAMA debate having gone through its loan portfolio and not finding any development loans and any assets that needed to be transferred to the agency.

Its share price has also performed much better than that of AIB and Bank of Ireland, hovering around €1.50 above them.