BOi is pullling all stops from everywhere.. insurance business, tax loss credits, writeoffs, UK business, interest earnings spread, negotiation of mortgage terms, reduction of expenses, other sources of income.. Financials are out the first week of August, should be interesting..
AIB has been releasing bits of information in their regulatory filings (NY) , they have been positive..
According to the Irish CB the difference between loan pay back and new loans drawn down is close to 500million for the month of May. Households have reduced debt by 2.4 billions in 5 months. There's 3.7% less borrowing YTD.
When boi release the half year figures in a months time, lending could be a black spot. Hopefully the UK will make up for the Irish figures. To make money banks need to lend and in boi case it's extra important. That NIM needs to push on to 2.5% and writing new profitable loans is key.
With a CT rate of 12.5% I presume the value of the DTAs are 1.25bn (using the 10bn threshold). IF this was guaranteed by government at a CHARGE it increases the capital base by the same amount as the asset entry. This would then a very neat way for the 1.4bn preference shares to be repaid without the need for some other form of capital raise. The value of the government shareholding would go up and another uncertainty for BOI removed, everyone gains. Surely a decesion like that is a no brainer. This is where Richie being so belligirent with the Dail & lacking conventional & accepted charm pays a price I suspect
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