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I suppose as the resolution approving the 1Bn share buy back confirmed the end of december 2024 as the completion date the buy back should be completed by then. T and C of approval may mean it's execution is at BOD discretion.
2 negatives from BIRG statement ;
cost to income ratio gone out from 42 to 45%.
NPE exposure increased from 3.1 to 3.2%
would not be surprised if buy back balance of 480mill deferred to issue of results in 2/25. hopefully I am wrong and delivered with H1 24 end of July.
anybody going to AGM and raise the buy back balance issue.
MIM meant NII . Best correct before Jon Jon smacks my bum
An optimist would say that’s a drop from a 6% reduction to a 3% reduction
The upgrade in NII (although not that significant) is still good news - BIRG tend to be conservative in guidance so their updates/outlook are fairly trustworthy - looks like everything is "steady as she goes" at present
NIM expected to fall 3/4% down from 5/6%
Strong first quarter lifted NIM guidance
GG,
BOD have approval to sell 1Bn value of shares ,approval expiring towards end of December 24.
The buy back of the balance could be raised at the AGM on 23 May - may not be raised by the BOD ( they have approval already ) but could be raised by a question from the floor. As less than half the 520mill buy back will not be completed by AGM date BOD may be inclined to push this out until release of H1 figs at end of July.. an early announcement could result in less shares being bought back as sp could push ahead.
Forget about the dividend SELL
This is a very strong sell over 10 euros
Another stupid question god help you
I’d say that kind of announcement would be covered at the AGM
Reading between the lines
You reckon they will give a heads up on the 480 tomorrow, John, it should negate the ex div effect if it's positive.
bankinter = ole version of revolut. no mention of current account or branches? i have had a great experience with digital banks (revolut) for fx exchange and a better version of go henry and a **** poor experience with them again revolut! for missed loan payments and a 4 month wait to speak to an actual person, again had to involve the banking ombudsman!
so not wetting myself just yet,
gla.
Hey JH, what price will the share be after H1 results
Jon Jon your the guy who can’t read between the lines Is that why your so keen for me to read between them for you
"they have approval to buy back 1 bill by year end"
"they have committed to buying back 520mill by year end."
You dont have to prove to the Board once AGAIN you have a Doctorate in Pedantry. We are well aware of this.
What the Board is really interested in is whether or not the BOD will proceed with the buy back of the 480mill balance when announcing H1 24 results. This announcement will be awaited with as much interest as the PBT figure.
Any possibility you might give us your H1 PBT prediction before results are announceed - even a "reading between the lines " figure will suffice.
You will have a field day "reading between the lines" following the Q1 interim statement next tuesday. Look forward to your comments.
Hopefully , you will stick to 1 line pedantic cynicism henceforth as you are posting to your strength.
JH, Tks for that.
Joxer22 posted the revised Davy PT of €14.60. Suspect I will have cashed out long before that price is achieved.
GLTA
They have approval to buy back 1b by year end
They have committed to buying back 520m by year end
For now the rest is garbage talk
Ashton,
to clarify, the balance relates to 480 mill. they have confirmed the 520mill buy back which will be be concluded in 24 1 way or the other. I am hoping this will be concluded by time of h1 24 results , hoping they will announce with those results the completion of the 1 billion buy back for which they have secured approval.
Ashton,
while the BOD of BIRG secured approval to a 1bill buy back expiring in december 24 the balance of the buy back is at the discretion of the Board.As AIB have approved a 1 billion buy back and are proceeding with this through a similar reduction in the state ownership I am hopeful that BIRG will follow suit when publishing the H1 24 results at end of july.
Cuckoo,
As you are aware all corporate bodies to maximise profits tend to concentrate on their core activities.With your Doctorate in Pedantry and Cynicism you should concentrate on your 1 line pedantic cynicism.
As the q1 interim mgt statement on the 30 april will be short on specifics you will be given ample opportunity to " read between the lines".
Some of the questions on here today you wouldn’t get them in junior infants
€10.12 at close today
I guess gg and yourself are sellers @ €10.62 let’s hope it hits that really soon
The taxi is on me
JH, What happens if they haven't spent the balance of €352M by the end of July. Does the bank need to hold an EGM to renew the "Buy Back"?
GG,
is that a serious question to Kenq ? €167,947,646 spent as of 25 April with a balance of €352,052,354 to be spent which means daily buy back rate needs increasing to complete 520 mill spend by time of H1 results end of July. Share buy back totals 18,210,535 as on 25 April.
Q1 Interim mgt statement on 30 April which could be interesting especially to "reading between the lines " followers.
SP around 10.14 late afternoon but appears to finish with 10.32 at 17.57.
might see your €10.12 plus 50c with a little luck next week.
Kenq2020, how far are we thru the buybacks, do you know?