7 Feb 2011 18:27
BANK OF IRELAND
STATEMENT ON CAPITAL RAISING PLANS
07 February 2011
The Bank notes recent media speculation concerning the Bank's plans for meeting the Central Bank's incremental Core Tier 1 capital requirements of €2.199 billion by 28 February 2011, announced on 28 November 2010.
The Bank is discussing a number of structures with the State to raise the requisite Core Tier 1 capital by 28 February 2011. The Bank's objective in these discussions is to facilitate a subsequent stock offering to stockholders, at a point when there is likely to be further clarity following the Prudential Capital Assessment Review (PCAR) and Prudential Liquidity Assessment Review (PLAR) which are due to be completed by the 31 March 2011. None of these structures has been approved by or agreed with the State, and there is no certainty as to which, if any, of the structures under consideration will be adopted.
A further announcement will be made in due course.
For further information, please contact: | ||
John O'Donovan | Group Chief Financial Officer | +353 (0) 76 623 4703 |
Andrew Keating | Director of Group Finance | +353 (0) 1 637 8141 |
Dan Loughrey | Head of Group Communications | +353 (0) 76 623 4770 |
Tony Joyce | Head of Group Investor Relations | +353 (0) 76 623 4729 |