George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
On the plus side, this stock does provide numerous opportunities to buy in...
the EU is one big mess.. it is not growing.. the french are loosing out factories to the east bloc.. le pen was complaining about this shift in production.. the east takes away.. they dont produce..
its called " shorting " happens to countless stocks for no apparent reason sometimes
Eastern europe... " they simply do not produce" Aclaw, massive shift in manufacturing to eastern block... Brexit is turning into one big mess for the UK. May is a clueless, two dimensional politician.
.. regarding the UK.. the £ is on fast recovery.. i dont see a recession here.. i am now more worried with the. €. than the £.. the UK provided the banking stability for the €.. now the brexit has changed the EU .. i see two problems for the EU.. 1). the EU expanded too fast.. the east block countries absorb capital.. and social programs.. they simply do not produce.. add greece to the list.. add countries like spain with unbalanced budgets and 20% unemployment.. add the economic slowdown of france .. and you have a huge economic problem .. the UK is small compared to other EU countries but has kept its own currency.. the UK is a banking power.. it can weather these changes much faster .. 2) . the politics - UK has more stability than other countries of the EU.. the political instability of the EU has been front page news.. greece.. france .. spain without a govt for over 9 months ... 3 elections.. the basque and catalan independence problem.. the rest of the EU with the immigration problems causing social and political friction.. the virtual non support by the east block countries to these new problems.. german elections soon.. i see a bumby ride ahead for the UK .. but nothing beyond what the can handle.. i am more concerned about the EU longer time ( 5 years +)
I don't think so ,Nama took all bad loans,the made loads of redundancies,most Banking done same Pensions I accept still problem but no dif from most Companies in Europe Problem I have as Shareholder with all Opposition gone in Ireland people at top are on good salaries but have no real inv in this Bank when it comes to Shareholders meetings forget it it looks to me like private Bank The big question who runs it the people on big salaries or Goverment G L A
Boi should of capitalised on the irish market more , im impressed with the 30 percent increase in mortages , but the non performing loan ratio must be reduced AS mentioned below as this scares investors , but i suspect 2018 will be a great year but as ive always said this year will be boring year and am happy with anything 20 something cent for this year if you consider brexit with no dividend im not surprised its around this range
Totally agree with everything you say observe. 12% is a huge amount of a reserve for any bank to have to keep and a big part of the reason the ECB QE has taken so long to have an impact on the real economy. It's also a reason why Paddy Cosgrove is considering bringing a huge Fintec conference to Dublin. 6 or 8 years of almost no bank lending as reserves were built up from 5 to 8% has opened the door to serious banking competition. Unfortunately whether we like it or not that 12% has become very important (as an excuse if nothing else) to market makers looking at Irish banking. It's partly the fault of the banks because they still carry a high % of long term non performing loans. The nettle of repossession has never been grasped. The proposed deal between AIB and David Halls organisation may be a game changer in that area soon. If the NPL % was less than 4% bkir would be (or should be) one of Europe's most desirable banks. On the UK business. For some reason the business over there has suddenly become a stick to beat BKIR with which makes no sense. Currency changes aside it's a no brainer. A nation wide, almost zero cost gateway into a market 10 times the Irish market. In a short time it's added 40% of the banks business. Every pound borrowed or deposited is a gain regardless of brexit or exchange rates. In theory it should see the banks valuation eventually exceed pre crash highes . Finally Richie. He did a huge job for the bank but for the last year and maybe more he has led the bank to a stand still. A serious lack of ambition at home especially has seen us not capitalise on practically no competition in the market . Why is bank of ireland, with the dominant position and foot print it has in this country only lending 25% of new mortgage borrowing? That number bugs me a lot more than 12% CET1.
Thanks for post re AGM and "observations". Agree with all. Unfort current CEO looks to be a passenger in the process for a long time. Your health is your wealth and I hope he's ok going into the future.
PGee has some valid observations. This is not about CET (going forward a bank that is going to run its capital levels at 12% is going to battle to make a return....they have to trade capital to the bone not have it as a luxury); not about profitability (BKIR is producing in the top 5% in Europe); not about the pension fund (it is being largely hedged against currency moves and is now only realistically exposed to credit spread between the AAA curve and the Corporate Credit curve, which happens to move around a bit at present); not about Stg vs Eur (the business in the UK is funded in Sterling and therefore the only currency exposure is the profit/loss flow from this book). Management has closed down all the obvious leakage and risk and seek to maximize the P+L statement from growth in mortgages and interest rate spread. This is all factual and yet the capitalized value of BKIR is at 50% of its most obvious peer, AIB that happens to be owned 99% by the State and is seeking to offload 25% of its shares in an IPO. There is skulduggery going on, simple manipulation that is being condoned by the State and perpetuated by those firms that have been appointed by the State to oversee the sale of AIB. Surprise, surprise!! One other point to make on this would be the likelihood that Irish institutions have been hoodwinked into retaining funds for the upcoming AIB IPO. For better or worse based around pure valuation these institutions are going to throw investor money into a share that is trading at close to 100% premium to its cousin share, BKIR. In holding back funds now they remove themselves from allocation of any sum to BKIR, when value is at its highest!! The fraud is coming out of the UK where the mandate is sitting and allocation of funds is open for business. Having dropped into the AGM of Friday I have to say there are a couple of points to be made: 1) the residual anger by what I assume is a minority of current shareholders to the original collapse in BKIR back in 2008-09 remains high. Sad to see but it is deep seated. 2) Management are highly defensive regarding the payment of a dividend. Their reasons for not paying on 2016 results are abysmal. My original read that they failed in their duty and had to have been influence by some other external factor unrelated to the well being of BKIK remains. 3) I appreciate that Boucher is exiting and I can't fault him for his role in the bank from 2008 on wards but right now something is badly wrong. He did not utter a single word at the AGM, not one. He was completely spaced out. Now we can all appreciate if something new on the medical front has come down and we thank him for his time and service but come on, you cannot be contributing zero to the group and remain on. Hand the reins over to Kane (who is not short of words or savvy) on a temporary basis and step down. For me it was a sad spectacle.
Yeah this could turn out to be a perfect storm for a United Ireland - not that it matters much to me. But the UK is headed for a 10 year recession IMO. Brexit will be a catastrophe for the UK.
.. a .12% is very good compared to other major banks.. some large americans have such a poor CET they are vulnerable ro any sudden financial mkt conditions.. CET is no excuse at all.. a few years ago the metrics for BOI were much less.. BOI was still trying the turn a profit and the sp was in the 30's.. when Ross was investor he was majority.. Ross sold and others like blackrock replaced Ross.. BOI was pushed down 50% for no reason.. the 14% govt ownership seems like the target.. the govt needs to police this share or they will never recover what they plan from this bailout program.. now BOI.. later AIB.. was waiting in the news regarding the reverse split but none at all..
The CET has little or nothing to do with the 10% SP drop last week, 12% CET is quite healthy and a good deal better than when it was 11.3% and the SP was in the mid thirties two years ago. This is a concerted attack, presumably because the BoI SP is the only metric for valuing the upcoming disposal of the governments bank shares, it is an orchestrated fraud on the Irish Exchequer and the Irish people as a consequence to the tune of approximately €6Bn, a new banking scandal!
The people that run this Bank do not seem to have invested very much over the yrs Starting to think the might be right,you know what the say about directors buys helping Shares Could be us Shareholders got this wrong,as always stand to be corrected G L A
Quite right as usuall John and thank you. Always great to read your insightful posts.. But, Knowing the way share moves with the help of manipulaters, my guess is by the end of next week we will be around 0.22-224
Unfortunately this is an extremely important metric for banks and especially BKIR. Some annalists were hoping for a 12.6% result today so at 12% it was well below expectation. My fear this morning and judging by the 5% drop today, maybe also a few others is the dividend. At a CET1 of 12% or below it will be touch and go if we get one next march. On the positive side I think this may be a blip due to front loading (deposit maybe) on the new tec set up. With steady capital generation and changing bond yields due to ECB policy changes this should see us closer to 13% by year end. I thing there may be bargain hunters taking a look at 23c next tuesday.
Yikes.....Madness
A true ball buster of a share.
I hear from the academic branch of the family that opinion is still being canvassed in London concerning the "Way Forward". Seems about right really - take the decision - then discuss your current position to see if a policy objective can be achieved. Some of the opinions expressed by the Emeritus Branch left my correspondent wondering if Doctorates and chairs had simply been handed out in payment for "services rendered". One even suggested that Ireland might join the Commonwealth as a way of solving the border question. Latest economic data today seems to bare out my earlier post when I spoke about the country being on borrowed time so far as growth is concerned. Nuff said - enjoy the weekend.
.. barely a 2 page notification.. no mention of the reverse stock split.. of the ceo replacement.. of dividends.. an empty shell of a press conference .. other news mentions that a Baillie and Gifford from Scotland crossed the 3% ownership.. https://investorrelations.bankofireland.com
Pure and utter rodeo. There's young bucks out there making millions and bloody millions out this share and its manipulation thereoff. The sooner the better this share is cleavered re a share split towards reality the better.
Steady, so pleased with results ,obviously 12 percent cet1 needs some buffering , but 2018 this should bear fruit. In mean time I expect 2017 to be a boring year
Thanks to a more than lacklustre presentation of the results our manipulators are having a field day and making a monkey of the SP, close today 23, if we are lucky? Bring on the changes here!
Bit of a let down there. Investment in the new tec is been financed from cash flow so its a drain on reserves. Hopefully NIM going in the right direction and will help cancel some of the negative reaction there is going to be from a miss on the CET1
.. the £ doing much better v USD.. already in the 1.29 range..