Member Info for Observe2

Not so whinner!

Observe1 stopped working (no idea why) so created Observe2!!

Am thinking he has been asleep for some time now!

You can wish away @Shiftstick, as the Triad of Fools have wished from their appearance on this platform post Covid (likely affected upstairs).

You cannot expect the market to pay you a premium (defined as anything on or above NAV) when you have no growth in the share, nor any hope of growth in the share. you do not need to be a genius to understand this, nor act as if it is not reality (no names mentioned).

Management have not figured it out and need to be fired. Their job should be focused on only
1) narrowing the discount via an aggressive share buyback program, that only stops when the positive capital available lowers down to the CET1 required, not available for non existent projects going forward. You want to do those (if they exist) then gear up.
2) declare dividends equal to 50% of ATP every year without fail. Stop the talk and walk the walk.
3) acquire existing mortgage assets from the marketplace (either from banks exiting or banks dumping their portfolios). These are available at discounts of up to 50c on the dollar. Stop all new lending at 100% on the dollar, you are simply writing off 25% on NAV valuation.

Till then you will languish at the lower end of the European banking sector; you will trade at a discount to NAV of between 25-50% of NAV and you will continue to dream that you are the genius and the guy next to you selling is the idiot. No free money in NAV trades that have incompetent management in place!!!

Just to clarify on the lunatic's demise: A demand to the compliance / monitors of this platform to remove the idiot, finally came to past. The utter rubbish being posted could not be ignored by the organizers and we finally see the end of him. Both Silverhorse and Fatboyslims are also on notice and further abuse (off subject on the BIRG site) will see their removal. May it happen soon. I have little doubt that being the same person, resistance to posting rubbish will be short lived.
RIP all idiot posters. Go air your rubbish on some other outlet, but not here.

Quite a negative article which focuses on the wrong issues in my opinion: the wage ceiling is something of an issue but clearly the excesses of the past have to be addressed and the reality is that the base salary that the CEO is on is more than justified by performance in the past five years. Have a look at the SP over 5 years and explain why she/he should be earning more. Right now BIRJ is a retail bank in a bi monopoly country; you hardly need a genius to run a bank in Ireland where you print money, you need someone that can mobilise that printing press for the benefit of shareholders....and that has not happened. I think moving to a division of CS for stupid money is borderline dumb: the place is bust and in all likelihood will fold inside of the next year. People in the know would not pick up the phone to a CS call!!!!
Perhaps BIRG should bring the fellow running Davy over now and let someone there pick up the reins in Davy going forward. The place is running sweet, even though they need to look at their fee structure if they want to stay that way. Given his time at AIB and Davy he does have an idea on how to get rewards back to who deserves them!!!! Been a long wait!.

Guys, we really have to rid ourselves of the lunatic triad! Their crazed commentary on having sold a few shares at 6.50 is simply incomprehensible!! All sane people remaining on this site have to cull them and leave them culled for good!!

@JohnHume. As you well know John, the Ass thinks that if he repeats something a 100 times it becomes fact/truth!!! Beyond comprehension and rarely worth commenting on!!
His current rant is the Eur8 SP metabolising to E10 by YE22!! The probability of this is approx 1% and yet it has become his one sentence mantra on this site. Zero substance, zero analysis. Nothing, just rubbish!!

His miraculous historic position at sub 2 SP (up from the all time low of 1.25) is thrown in periodically. All requests for him to produce a broker note, is ignored!!!

Everyone else is wrong/ dumb or stupid (spelt Stupit). Davy, Goodbody and now Berenberg. He is the genius, the narcissus, spreading a message of utter rubbish!!!

How I wish he and his aliases would disappear!!!

Government extends its sell off of its remaining holding (just sub 5%, c50m shares, cE300m) for 6 months.
Management announces approval of a 5% (c50m shares, cE300m) after regulatory approval, a cut in the 10% buyback approved at the AGM in 2021. But.....in true anti shareholder stance, management only declared a E50m (c7.5m shares) spend at end Feb 2022 as part of its pathetic "dividend". This R50m to be dealt in the next month.

Willing buyer and seller could have met at 5.75 which was touted on this board prior to Feb results. Management could have spent the cE300m, which comprised less than 1/3 of ATP of E1.2b and cleared the slate and maintained the momentum. But no. Hopeless muddle that serves no purpose. Can they/will they add to the E50m buyback outside of the dividend dates???? I would put the chances as zero.

Disappointing!!!!!!

Betting: Share price goes lower!!!!

Noticed that @ Cooking!!!
Couldn't be bothered to comment.
Asses are not known for their brains!!!

The never ending process to buyback a paltry E50m worth of shares seems to have reached a conclusion, with this morning's announcement.
Shock and awe? No!! Only small positive is a buy around their desired level of 5.75 (NAV of 0,6534).Do shareholders see any benefits? No. Momentum has been long lost and the snipers will drift this share down to the low 5s in the current market!!!
Sad story

Thinking is not too far afield: US Banking Sector (Wall Street Banks) trade comfortably at a TNAV of c 1.1:1. So analysis comment takes that and projects it into the BIRG price...comes out at 9.72. No thought, no understanding of European banking and obviously a total disregard for potential investors!!!
You should not be surprised with the US approach!!

Ireland will rue the day they take in 100k Ukrainians.
Mafia styled, vicious gangsters that have done nothing with their country since breaking with the USSR. No one wishes the woes of today on any nation but stand clear of charity in this case. Look to them for the IT scams into Europe over the past 20 years, not Russia. The riches go upward in that country, not downwards as indicated by someone here with the $200 weekly wage. Those guys are no longer in the country, just the patriots, urged on by words of heroism from the US and the UK, who never gave them the time of day 6 months ago.

Fire the management!!
They are not working for the shareholders....who are they working for?????

@Cooking re question

My earlier analysis argued a trading range of 5.99 to 7.04, reverse engineering the projected NAV to the European Banking average TNAV over 5 years. Ahead of the Ukraine debacle and now the sideswipe by management, I thought the postulation was holding up well. A bounce at 7.02 and a bottom at 6.00.
Declared ATP is 1.055b. Declared TNAV is 8.80 for 2021.
Applying the same parameters to the declared results from today, I get a trading range projected at 6.42 (lower) and 7.54 (higher) for 2022.
The fact that the SP is trading below 6.00 today (@ 5.90 it is at 0,6705 NAV) is a shocking indictment of management and its failure to recognize that SP outperformance is determined by distribution policy, either dividend or share buyback. No shareholder will get rich where distribution is pegged at 10% of ATP, in a year where profitability showed 14 year highs. Any contributor to this platform that condones this payout fails any shareholder litmus test and must not moan on when the SP under performs the European Bank Index throughout 2022. It is inexcusable and management should be replaced. 5c dividend and c8.3m shares is like bringing a peashooter to a bazooka party. What is the point!! Pathetic!!!
My prediction is that SP will do well to see 6.50 again in 2022.

@@howth1
Read the posts below.
PBT 1,221b
ATP 1,055b
Payout of 104m equates to 8.5% and 9.95% respectively.
Shocking decision. Management should be looking elsewhere, they do not work for the shareholders of this company.

Outstanding results, PBT 1.221b, ATP 1.055b. Exceeded all analysis's forecasts. TNAV 8.80 2021.
On the operating side, the one negative was a decline in Net Interest Income, a decline of 14bp on the year. This should reverse itself in 2022 as the EuroZone interest rate curve normalises.
The announcement of a shareholder's distribution total of 104m (dividend 54m and share buy back, subject to regulatory approval, 50m) will go down as the most shocking management decision since the wipeout in 2008. To release 10% of ATP in total distribution is incomprehensible and is a huge slap in the face to all shareholders. It goes against management objectives of 50% ATP payout and given the demands made on shareholders over the past 14 years, an absolute shocker. They have effectively utilised 90% of the 2021 ATP to pay for Davy and KCB, leaving a crumb on the table for shareholders.
The message has to be very clear. BIRG are not there for shareholders. Sell all holdings should be the carrion cry. Go find another share that provides a return and respect to shareholders. Simply shocking....there is no other description.
Expect SP declines.

Let's hope management behind the breakup! Biggest bargain in years, handed to them on a plate!
Can't see any merit in @Icarus42 view based on technicals. This is not a technical move.
Why would the Europeans sanction SWIFT? Not going to happen. Sanctions are not a one way street and Russia has the energy valve. That discussion is only being pursued by the US ( suits their energy sale agenda) and that buffoon running the UK (he just got a get out of jail card). Time to open up the coal mines again (dump the greenies) and fire up the nuclear plants. Why in heaven were they closed down, safe, unlimited energy. I would guess the Germans will be the first out of the blocks on this one! As for the Ukrainians, they mistook democracy for corruption and wonder why the Russians have come back to play. They had 30 years to deal, they never did!! You can rest assured that very few Ukrainian solders are going to give up their lives for a corrupt society....they are not that foolish!!

Down 10% today because they are still writing off loans from 2008. GBPP1 billion!! Can you believe it. They were bust back then and are probably still bust if you dig deep enough!!!
Same as the Swiss!

Who has a line into Management????

One should never object to others utilising what they cannot produce......but it must be acknowledged!!!

Plagiarism comes to mind!!

If SilverAss is into this then perhaps it can be used to get him off this site once and for all!! Best gift possible.

Pray @Icarus 42, where did your wandering take you in discovering this deed???

If management doesn't trigger their share buyback at these levels, they need to be fired. What a bonus for shareholders!!!