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19/05/2009
Burrows Stands Down As BoI Announces Losses
Bank of Ireland Chairman Richard Burrows will leave his post following the bank's annual general meeting in July, it has been announced.
The announcement came as the bank admitted a pre-tax loss of €7 million compared with a pre-tax profit of €1.9 billion the previous year. Underlying pre-tax profits dropped by 80% to €332 million.
Speaking to RTÉ radio, Riche Boucher, the bank's Chief Executive, warned that the BoI faces another difficult year ahead and admitted that he had made mistakes in lending.
However, he said that the bank was very enthusiastic about working with the National Assets Management Agency (Nama).
(KMcA/BMcC)
The announcement came as the bank admitted a pre-tax loss of €7 million compared with a pre-tax profit of €1.9 billion the previous year. Underlying pre-tax profits dropped by 80% to €332 million.
Speaking to RTÉ radio, Riche Boucher, the bank's Chief Executive, warned that the BoI faces another difficult year ahead and admitted that he had made mistakes in lending.
However, he said that the bank was very enthusiastic about working with the National Assets Management Agency (Nama).
(KMcA/BMcC)
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Central Bank Report €1.2bn Profit
The Central Bank have reported a yearly profit for 2011 of €1.2bn, most of which has been paid to the Government as a dividend. In its annual report published this morning, the Central Bank says the governor, Patrick Honohan, will take another voluntary pay cut this year. Most of the Central Bank's profit of €1.
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The Central Bank have reported a yearly profit for 2011 of €1.2bn, most of which has been paid to the Government as a dividend. In its annual report published this morning, the Central Bank says the governor, Patrick Honohan, will take another voluntary pay cut this year. Most of the Central Bank's profit of €1.
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Ireland WeatherThis Evening and Tonight:A fine end to the day with some sunshine, then clear spells overnight. Low cloud could form around some Irish Sea coasts later in the night, or a few fog patches in prone spots.. Minimum temperature 9 °C.
