Member Info for Joeoh33

In response to the CCPC's concerns, Bank of Ireland has committed to supporting the growth of non-bank lenders - Dilosk DAC, which trades as ICS Mortgages, and Finance Ireland - in the Irish mortgage market.

It has commited to making €1 billion in funding available to these non-bank lenders through the purchasing of securities issued by them, to increase their funding capacity and reduce their cost of funding.

- Hardly worth the bother!

GLA

From RTE -

The State has further reduced its stake in Bank of Ireland today, bringing its shareholding in the bank to below 4%.

In a statement to the Dublin Stock Exchange, Bank of Ireland said the State's shareholding has been reduced to 3.996% from 4.93%.

GLA

Now we’re Cooking!

Makes perverse sense in a non Elon Musk way.

GLA

The market certainly loves drama……..

CEO does a reasonable good 5 year stint and moves to a bigger job, it’s hardly earth shattering stuff?

GLA

Off for pastures greener I suppose……

GLA

From RTE:

The State has further reduced its stake in Bank of Ireland, bringing its shareholding in the bank to below 5%.

In a statement to the Dublin Stock Exchange, the bank said the state's shareholding has reduced from 5.94% to 4.93%.

Francesca McDonagh, Group CEO of Bank of Ireland, said the over the past nine months the State's shareholding in Bank of Ireland Group has reduced by two thirds.

"The State is now the third largest shareholder in the group," the Bank of Ireland CEO said.

Keep going Paschal!

GLA.

For the laugh I subscribed to SWS and seen this nugget for BOI:

“Simply Wall St's valuation model estimates the intrinsic value at €9.72 per share.”

Holy Moly! What are they smoking over there!!

GLA.

I own 0.00000651 % of this bank and I feel that that’s exactly how much attention is shareholders are getting.

To the barricades I say!

any old BS will keep the shareholders happy it seems.

Years of being told what to do / given cover by the DoF has made the board too safe, any old BS will the shareholders happy it seems.

God forbid they might challenge themselves with a proper return to investors.

Too easy to kick for touch all the time…… to hell with offending political opinion…..they still have AIB!

Do the management in Mespil Rd think that treating shareholders as children is the way forward……

Is BOI being run for the benefit of its shareholders…..

What exactly are BOI waiting for……

Super results and super disappointing outcome!

GLA

The results leaking out of Mespil Road must be bad!

GLA

Observe2,

Thanks for the post.

A SP of €6.50 and a reliable 5% dividend would keep me on board for the foreseeable!

GLA.

Howth, you might be jumping the gun a tad, I think the results are on the 28/02/22? Still it would be nice to see some solid numbers and give people a reason to invest in this old gal!

GLA

Buybacks are fine and => keep up the good work, but it’s inflation and consumption that will drive this baby higher!

Just seen the latest on RTE,

https://www.rte.ie/news/business/2022/0119/1274613-bank-of-ireland-stake-sale/

Down to 6.93%.

GLA

MyHome,
(1) They levy the €100 account fee once a year, a fee note is sent out with it and the payment is taken from any cash balance available or they will ask for a separate payment.
(2) They €100 fee is a flat yearly fee. In addition to taxes etc. the transaction fee is either 1% of the trade or a minimum of €25. So if you only make one trade of €12000 in a year your fees will €100 + €120 so €220 total. The contract note shows the transaction fee and they are all collated once a year with the yearly fee note. (See the little bell in the top corner of the app for these notes).

Hope that helps.

GLA.

Myhome, I am with Goodbodys as well. They seem to update there accounts about 10.00pm or so each evening, so that may explain it?

GLA

For the Government:

Government has indicated it will continue to offload shares in a controlled way till the summer.
Government is a seller at current prices, as evidenced by the reduction from 14% to 8% recently.
Government has the stated intention to exit the bank, and if possible reduce stake in AIB.
For the government now is good time to do it, Covid constantly in the headlines and keeps the anti-bank shrills off the front pages.
At the moment there are obviously buyers of the government’s shares.

For Bank:

The Banks stated intention is to return to full private ownership.
A share buyback would be a huge vote of confidence by the bank in its own future.

For Shareholders:

A decent share buyback is more tax efficient than a paltry dividend.
The share price will likely be enhanced by both actions.

Just my 2 cents!

GLA

The board still has the authority to carry out a share buyback of up to 3% I think?