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Bank of Ireland get 94% take-up

Wed, 09th Jun 2010 07:32

Bank of Ireland has received a take-up of 94.6% for the rights issue required by the Irish government to boost its capital base.The bank received valid acceptances in respect of 2.97bn shares out of a total 3.14bn on offer, although the €1.72bn cash call is fully underwritten.It also has the backing of the National Pension Reserve Fund Commission (NPRFC), which took up its entitlement worth over €600m.Terms of the issue were 3 new shares for every 2 at €0.55c and the Irish taxpayer will own up to 36% of the ordinary shares in the bank following the sale of those not taken up. The new shares will start trading on 14 June.In March, Bank of Ireland posted underlying losses of €3bn in the nine months to end 2009 after it wrote down the value of loans to customers by more than €4bn.
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18 Sep 2009 06:17

Friday newspaper round-up: Lloyds Banking, BSkyB, African Minerals

Lloyds Banking Group has been forced to abandon its plan to withdraw from the Government's toxic debt insurance scheme after failing to raise enough capital to meet the Financial Services Authority's strict requirements. The decision dashes the hopes of Eric Daniels, chief executive, who wanted a w

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19 Aug 2009 11:41

Former bank bosses rehired

Banks have lost tens of billions of pounds over the past few years, so it's perhaps a little surprising that men held responsible for the credit crunch have found gainful employment at some of Britain's biggest companies. Back in May, Richard Burrows apologised for Bank of Ireland's £6.2bn full-yea

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3 Jul 2009 17:12

London close: Stocks tread water

A late swoon saw Footsie relinquish virtually all of its gains, with losses on resource stocks counter-balancing gains made by banks. Barclays, Royal Bank of Scotland, HSBC and Lloyds Banking were the pick of the banking sector, despite chancellor Alistair Darling firing a warning about the re-eme

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3 Jul 2009 14:30

London afternoon: Banks lead the fight back

Share prices are creeping higher after yesterday's heavy falls, with banking stocks leading the fight back. Barclays, HSBA and Lloyds Banking lead the banking sector higher while insurers such as Aviva and Legal & General are also wanted. An exception to the general strength of insurers is Friends

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3 Jul 2009 12:02

London midday: Shares remain dull

Trading remains quiet in London, today after yesterday's excitement following dismal US unemployment figures. Friends Provident is the worst performing blue-chip as the market adjusts its share price to take account the demerger of its 52% stake in F&C Asset Management. Resource stocks are friendl

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3 Jul 2009 08:49

London open: Blue chips shrug off Wall St woes

London has shrugged off last night's collapse on Wall Street to trade higher in the absence of traders in the US, closed for Independence Day on Friday. The Dow Jones slumped more than 200 points Thursday as the market reacted badly to awful jobs data. Banks are a strong spot, despite chancellor A

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3 Jul 2009 07:38

London pre-open: Early buying forecast

London is promising to shrug off last night's collapse on Wall Street to trade higher in the absence of traders in the US, closed for Independence Day on Friday. The Dow Jones slumped more than 200 points Thursday as the market reacted badly to awful jobs data. The FTSE 100 is seen up about 8 point

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3 Jul 2009 07:19

Bank of Ireland under intense pressure

Ireland's premier bank, Bank of Ireland, has warned it is facing a squeeze on profit margins in addition to the huge impairment charges it will take this year and next. "Demand for new lending remains muted and the lower interest rate environment together with the impact on deposit pricing of more

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19 May 2009 09:34

Bank of Ireland chairman resigns, debt buyback

Bank of Ireland chairman Richard Burrows stepped down today after the bank slumped into losses for the year due to an increase in writedowns But shares moved ahead on a buyback programme, which will boost Tier 1 capital. The bank will purchase €1.4bn out of €3bn of debt. The group swung into loss

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