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Ciaran Hancock

Ciaran Hancock

Business Affairs Correspondent

Ciaran Hancock is Business Affairs Correspondent with The Irish Times.

Belgium’s KBC Bank says Irish unit’s loan loss provisions could hit €400m this year

KBC Bank Ireland recorded loss of €77m in quarter due to high loan loss provisioning

UK outsourcing and asset management group Capita expects to create an additional 800 jobs in Ireland over the next three years
UK outsourcing group Capita to double Irish workforce to 1,600 over next three years

Capita to hire some IBRC bank staff to manage loans as part of Nama contract

Herb Hribar, chief executive of Eircom
Hribar confident of steering Eircom towards viable future

The Eircom chief executive sees himself as a man who gets things done, and looks forward to many solvable challenges at the compan(...)

London-based Independent Strategy is a fan of Nama: “Nama, the superbly run Irish ‘bad bank’, may well deliver a profit to add to the exchequer balances down the road,” it says. Photograph: Cyril Byrne
Here’s hoping for victory for Ireland

Cantillon: A research note published by London analysts gives an upbeat view on Ireland’s prospects

Founded by Dermot Desmond in the 1980s, NCB has about €1.8 billion of private client funds under management. It was part-owned by Northern Ireland-born businessman Seán Quinn until the collapse of his business empire in the past three years.
Stockbroker NCB rebrands by taking the name of parent company Investec

NCB staff to relocate to Investec’s Irish head office in the Harcourt Building

Citi’s offices in Dublin. The bank is one of the largest foreign banks operating in Ireland and has a significant operations in the IFSC.
Citi to close Waterford branch later this year with the loss of up to 50 jobs

Bank said yesterday the decision was part of a wider global restructuring

Duncan Bannatyne, who borrowed money from Anglo Irish Bank in 2007, expressed frustration that he has not received a response to certain recent communications with the special liquidators of IBRC at KPMG in relation to his loans.
‘Dragon’ Bannatyne says IBRC putting deals ‘in limbo’

IBRC liquidation has put deals linked to gym chain in jeopardy, says businessman

The banks will never publicly admit to this but mortgage writedown/write-off will happen – for some people
Credit unions have nothing to fear from debt scheme

Irish League of Credit Unions should give Central Bank’s debt scheme a trial run

The Central Bank wrote to each of the country’s 396 credit unions on Friday inviting them to meetings where it hopes to persuade them to participate in its scheme
Credit unions urged to join trial debt plan by Central Bank

Irish League of Credit Unions says scheme is flawed and recommends boycott to affiliates

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Latest Markets

Car stocks lead European shares higher
Aer Lingus shares climbed 3.5 per cent in Dublin yesterday Better than expected company results lead European shares higher
National Treasury Asset Management chief executive John Corrigan (right) at NTMA briefing at the Treasury Building in Dublin. At left is Rossa White and centre Oliver Whelan. Bryan O'Brien / THE IRISH TIMES NTMA issues €500m of three-month bonds
Bond auction follows Ireland’s sale of 10-year bills earlier this month. Simon Dawson/Bloomberg NTMA to sell €500m of bonds this week
Brent crude rose slipped 2 cents to $106.32 a barrel by 0654 GMT, off an earlier high of $106.65. Photograph: Jin Lee/Bloomberg Brent steadies after hitting five-month low
Students take part in an anti-Troika protest outside the Presidential palace in Nicosia. Cyprus's Stock Exchange extended an almost two-week shutdown after the island placed controls on currency transactions to prevent a run on deposits when banks reopen. Photograph: Yannis Behrakis/Reuters Cyprus bourse to remain shut amid currency controls