Gerry Mallon of Ulster Bank. Banks  have offered apologies but only weak explanations  for the  overcharging. Photograph: Cyril Byrne

Some 51 people have lost their homes, but banks keeping mum on cause of scandal

Minister for Finance Michael Noonan: Sarp  was due to expire at the end of 2017 but its extension has been included in the finance Bill. Photograph: Alan Betson

Noonan aims to ‘remove any uncertainty’ for foreign direct investment in context of Brexit

CEO of AIB Bernard Byrne said the bank’s NPL ratio was about 17.5 per cent. Photograph: Gareth Chaney/Collins

Ratio affects bank stress tests performances, with SME sector highest at 30%

AIB said new lending drawdowns in Ireland increased to € 4.7 billion in the nine months to September 2016, 15 per cent higher than the prior year period. Photograph: Julien Behal/PA Wire

Growth in net interest income and underlying profitability driven by lower funding costs

Savills is forecasting rental growth of just under 10 per cent in Grafton Street by the second quarter of 2018. Photograph: Cyril Byrne

Rent rises set to slow as retail economy shifts to sustainable growth, company predicts

Ulster Bank chief executive Gerry Mallon has  said about 2,000 customers were denied a tracker rate in the past by the bank’s failure to honour contractual entitlements. Photograph:   Alan Betson

Fewer than 100 out of 2,141 SMEs successfully exited bank’s loan restructuring unit

Ulster Bank chief executive Gerry Mallon: banks is “satisfied” the fundamentals of the commercial property market in Ireland “remain sound”, particularly in urban locations. Photograph: Cyril Byrne

CEO Gerry Mallon says new mortgage lending up 49% on third quarter of 2015

Michael Fingleton cited his advanced age, poor health, and  demands of separate litigation as reasons to postpone inquiry’s work. Photograph: Alan Betson

Ex-Irish Nationwide chief bids to stall inquiry into his management of failed building society

Michael Fingleton, former chief executive of Irish Nationwide Building Society, arriving at the  Central Bank inquiry on Wednesday. Photograph: Alan Betson

Ex-Irish Nationwide chief among five former directors and senior managers under scrutiny

Michael Fingleton former Chief Executive of Irish Nationwide Building Society arriving at a Central Bank Inquiry, Black Hall Place.Photograph: Alan Betson / The Irish Times

Former CEO claims proceeding with inquiry would be breach of natural justice

Alan Murphy, managing partner  Eversheds law firm.   Photograph: Alan Betson

Eversheds set to partner with Sutherland Asbill & Brennan to form single brand

Independent News and Media chief executive Robert Pitt is said to have considered his position after dispute with company chairman Leslie Buckley. Photograph: Alan Betson

Why would firm consider acquiring national radio station that is losing market share?

 Former chief executive of Irish Nationwide Building Society Michael Fingleton is expected to attend Wednesday’s hearing. Photograph: Eric Luke

All key players involved in running INBS before collapse expected to attend hearing

Robert Pitt, chief executive of INM, and Leslie Buckley, chairman of INM. Photograph: Alan Betson

Issues arose over Independent News & Media bid for station owned by Denis O’Brien

INM said CEO Robert Pitt was “fully committed to his role”.  Photograph: Bryan Meade

Chief executive Robert Pitt said to be at odds with chairman Leslie Buckley

Triona Ferriter is to become AIB’s chief people officer.

Triona Ferriter, formerly with pharma group MSD, becomes chief people officer

Billy Kane, former PTSB chief executive, set up Finance Ireland in 2002. Photograph: Eric Luke

Investment gives agency 32% stake in SME lender led by former PTSB chief Billy Kane

Ulster Bank said it would remain in a strong capital position following payment of the dividend

This is the Irish bank’s first dividend payment since the crash of the financial sector

The Rush Credit Union offices for sale in Rush and Lusk are described as “modern, purpose-built and fully furnished”. Photograph: North County Leader

Loan book is understood to comprise performing loans of €8m and delinquent borrowings of €5m

Bernard Byrne:  reminded the committee that AIB had repaid  €6.5 billion since the crash.  Photograph: Cyril Byrne

Bank chief executive says objective is to repay €20.8bn bailout in full over time

The report recommends that consumers be given detailed cost information in renewal notices, that PIAB be given greater powers, and that the book of quantum, which provides guidelines for payouts, be updated on a regular basis

Minister for Financial Services Eoghan Murphy to present his own report

Incorrect tracker rate may have been applied to unfortunate AIB customers’ loans. Photographs: The Irish Times

Correct tracker rate not applied to loans, says AIB’s Bernard Byrne

AIB CEO Bernard Byrne is “confident” of repaying full State investment over time. Photograph: Luke MacGregor/Bloomberg

Full €20.8bn can be repaid, says CEO Bernard Byrne ahead of committee appearance

Sherry FitzGerald sold about 5,800 residential units last year with a capital value of €1.8 billion. Photograph: Frank Miller

Estate agent’s profit slips due to investments in staff, offices and technology systems

First-time buyers looking to buy  a newly built home worth €400,000 will now need a deposit of €20,000 compared with €58,000 previously.   Photograph: Rui Vieira/PA Wire

Central Bank tweaking of mortgage guides will do little to aid those on low incomes

Central Bank governor  Philip Lane  announcing the revised mortgage lending rules. Photograph: Alan Betson

Philip Lane pledges to act if relaxed mortgage lending rules lead to rapid rises

Central Bank governor Philip Lane: “(Past) measures have helped to ensure that those who buy homes are better prepared to manage their mortgage payments in the event of a future downturn in the economy or in the housing market.” Photograph: Eric Luke

Board had met to consider changes to its controversial mortgage lending rules

Bewley’s is planning a major refurbishment of its Grafton Street cafe, which will  re-open on a phased basis in 2017. Photograph: Aidan Crawley

‘Onerous lease’ on Grafton Street cafe drags Irish coffee and tea group into red

Permanent TSB group chief executive Jeremy Masding once again apologised for the failure of the bank to apply the correct tracker mortgage rate to 1,372 customers. Photograph: Eric Luke

Chief tells Oireachtas finance committee bank’s trajectory is ‘clear and positive’

Mr Justice Peter Kelly: Confirmed the appointment of McStay Luby as liquidators to Rush credit union.

Some of those central to events at north Dublin lender could face criminal charges

The exterior of Bewley’s Cafe on Grafton Street, Dublin. Photograph: Aidan Crawley

Expanded Grafton St refurb to include restoration of facade and Harry Clarke windows

Rush Credit Union’s liquidators will seek to sell its offices in the villages of Rush and Lusk. Photograph: North County Leader

Buyer to be sought for portfolio of about 1,500 loans with €9 million face value

Irish Life Investment Managers charged Irish Life €44 million in fees for acting as its investment manager last year, a rise of 10 per cent on 2014.

Company paid €8 million dividend to parent Canada Life Group UK in 2015

The Central Bank ran out of patience with Rush Credit Union in October 2016 – it had a hole of €4.7 million in its reserves while its liabilities exceeded its assets by €2 million. Photograph: iStockPhoto

Non-compliance, fund misappropriation and debt provision killed off Rush Credit Union

Rush Credit Union was deemed  insolvent with its  liabilities exceeding its assets by €2 million. Photograph: Garrett White

Credit union had €4.7m hole in reserves amid allegations of financial irregularities

On the wider issues facing the motor insurance market here, chief executive Mark Wilson said Ireland had been “living in dreamland”. Photograph: Joe O’Shaughnessy

Company chief says it has gone from one of the weakest balance sheets to strongest

The selected groups will assist the State with early-stage preparations for an IPO of AIB shares. Photograph:  Cyril Byrne

Government to appoint investment banks to assist in future stock listing

IRBS chief executive Ross McEwan: in 2014 he argued that teaser rates were a poor way to treat customers. Photograph: Dave Meehan

Parent company Royal Bank of Scotland scrapped them in the UK in 2014

Richie Boucher, Bank of Ireland chief executive, who will appear before the Oireachtas finance committee on Thursday. Photograph: Aidan Crawley

Exemption on regulator’s loan-to-value limit for 15 per cent of customers is welcomed

There’s no sign of Greencore chief executive Patrick Coveney losing his appetite for the job. Photograph: Cyril Byrne

Patrick Coveney clearly did his homework before the deal but still has some work to do

Aviva Ireland has appointed John Quinlan as its new chief executive to replace Hugh Hessing, who is returning to the UK operation.

Quinlan will replace Hugh Hessing, who is returning to the UK with Aviva

 Patrick Coveney of  Greencore:  will have to integrate the businesses and achieve returns flagged to investors amid economic uncertainty in   US and  UK. Photograph: Cyril Byrne

Patrick Coveney says US will ‘probably’ be bigger market than UK in next five years

Moody’s expects State’s 99.9%  stake in AIB to be sold by 2018

Ratings agency expects State to sell stake in Irish banks by 2018

Some 1,753 horses have been catalogued for this week’s sales at Goffs

Kildare bloodstock sales centre ‘doing well’ this year despite global uncertainties

“SMEs in regional and rural areas are not competing on a level playing field as they do not have access to high quality broadband”

Vodafone survey finds faster broadband drove online sales up 30% for half of firms

Ireland West Airport in Knock, Co Mayo. Connaught Airport Development Company Ltd, which operates the facility, made a profit of €112,201 to reduce its accumulated losses to €1.55 million.

Record annual passenger numbers of more than 720,000 expected

Former Zanzibar building on Dublin’s Lower Ormond Quay:  strong interest from investors. Photograph: Nick Bradshaw

Chesway seeking to build townhouse-style hotel at 22 Harcourt Terrace

Burlington Real Estate managing director John Bruder said the new fund would target properties in the €5 million to €15 million price range. Photograph:  Alan Betson

Fund will target mix of office, retail and industrial units in €5m-€15m price range

Total construction activity in the Republic increased for the second successive month in October. Photograph: Alan Betson

Building, orders and employment all rose rapidly last month, says Ulster Bank index

Minister for Finance Michael Noonan: “As a common-law, English-speaking and business-friendly jurisdiction, we will continue to be an attractive destination for US companies.” Photograph: Julien Warnand/EPA

Minister for finance will visit Washington, DC and Silicon Valley in bid to woo investors

Depositors of Rush Credit Union began receiving compensation payments on Friday

Rush Credit Union has €4.7m hole in reserves amid allegations of money laundering

The most pronounced fall in rates for owner-occupied homes was in standard variable rates, which fell 46 basis points to 3.5%  over the year to the third quarter

Volume of new mortgages in September amounted to €463m, bringing total for past 12 months to €4.7bn

Central Bank governor Philip Lane said the stock of loans to SMEs in 2016 is about half that in 2010. Photographer: Christopher Goodney/Bloomberg

Central Bank chief says State has one of EU’s highest shares of non-performing SME loans

  Choice Hotel Group chief executive Andy O’Neill: His start in the industry  was a waiter’s  apprenticeship  at 15 in  the old Forte in Dublin Airport. Photograph: Alan Betson

Share of €40m Dalata sale allows O’Neill to waive salary and build ‘holistic hospitality’ firm

The ERSI paper notes that between 2005 and 2007 some 80,000 housing units were built annually in Ireland. This dropped to just over 8,000 units in 2012 and 2013.

ESRI: Housing-related taxes have delivered ‘artificially low’ take

A provisional liquidator was appointed to Rush Credit Union  earlier this month. Photograph: Garrett White

Move follows appointment of provisional liquidator to Rush Credit Union

RSA Insurance Ireland’s loss ratio reduced to 88 per cent of premium income last year, down from 101 per cent a year earlier.

Company withdrew from areas with unsustainable losses such as motor cover

Home repossessions aren’t part of the Irish culture

35,000 families are two years or more behind with their mortgages, says Central Bank

City of London seen through the window of the European Banking Authority: it is set to move elsewhere in Europe after Brexit

Brian Hayes says Warsaw and Milan are leading battle to secure EBA after Brexit

Pearse Doherty: Government’s approach could leave “too much wriggle room” for financial providers to sidestep complaints. Photograph: Dara Mac Dónaill / The Irish Times

Pearse Doherty forwards Bill on time limit which led to 371 complaints being dropped last year

Citibank’s Irish subsidiary increased  its  assets followed a merger of its subsidiary in Ireland with UK-based Citibank International Ltd

Citibank Holdings Ireland’s total assets were €46bn at the end of last year

Some 3,000 major projects were granted planning in the first half of this year, up from about 2,100 in the corresponding period of 2015

Value of projects granted planning permission in first nine months of 2016 rose 45% to €8bn

The pension fund has been the subject of disputes between the ESB and its workers. In 2008, its actuarial deficit – the difference between future liabilities and income – was €1.96 billion.

Pimco selling its interest in asset portfolio with Tetrarch remaining as investor

 Economist David McWilliams and former Greek finance minister Yanis Varoufakis at last year’s Kilkenomics Festival. Photograph: Alan Betson/The Irish Times

David McWilliams will host special edition of ‘Agenda’ TV3 show from Kilkenny

Irish Life reported significant market share gains in its corporate business division, driven primarily by the winning of a number of very large  pension schemes

Ireland’s biggest life and pensions group set up Irish Life Health this year

Rush Credit Union is technically insolvent with a €4.7 million hole in its reserves.  Photograph: North County Leader

Questions remain as to why the Central Bank held off pulling the plug

Central Bank request approved amid claims including money-laundering at Rush union

Nama said it generated €4.3bn in proceeds between the start of this year and September 23rd, and it had €1.9bn in cash balances at the end of June

Agency to cut operating costs by a third next year as it announces €647m first-half profit

“It’s not clear that Michael O’Leary would have any interest in operating from an airport in Offaly but it is safe to assume he would insist on Ryanair paying little or nothing by way of passenger charges.” Photograph: Yves Herman/Reuters

Regional airports live off scraps and subvention as big three take almost all traffic

Bank of Ireland said sterling weakness versus the euro impacts the group’s reported balance sheet assets and liabilities as well as the euro equivalent of its sterling profits. Photograph: Bryan O’Brien/The Irish Times

Fall in value of sterling helped widen deficit in bank’s defined benefit pension scheme

BAM building contractors report doubling of pretax profit and 10% rise in turnover

Stephen Sealey, managing director of Brown Thomas: “Our business is only about level with last year. But it’s all to play for in the run-up to Christmas.” Photograph: Dara Mac Dónaill / The Irish Times

Rise in 2015 due to cost control, a €34m investment over three years and online sales

Minister of State for Financial Services  Eoghan Murphy: the State has “a highly educated workforce and a business-friendly environment”. Photograph: Dave Meehan

Ireland targeting 10,000 new international financial services jobs within five years

PTSB chief executive Jeremy Masding described the transaction as a “milestone” because it completes the final element of the restructuring plan agreed with the European Commission as part of its State aid. Photograph: Alan Betson / The Irish Times

Bank offloads remaining UK mortgage book to US firm Cerberus Capital Management

New Ireland provides life assurance, pension and investment solutions to individual and corporate customers. Photograph: Matt Kavanagh

Tony O’Riordan named chief financial officer at Bank of Ireland investment subsidiary

The Belmond Grand Hibernian, Ireland’s new luxury train.  This year the deficit at Iarnród Éireann will be about €11 million, according to a rail review. Photograph: Cyril Byrne

Second phase of western corridor would be utter folly

Docklands site to be developed for retail use and student accommodation

Iarnród Éireann accumulated losses of €150 million between 2007 and last year, in spite of achieving cost savings of €76 million over that period.

Review warns rail operator’s ‘balance sheet cannot sustain any financial shock’

US stocks trimmed losses as deal activity boosted consumer stocks and Microsoft rose towards a record, offsetting losses spurred by concerns a stronger dollar will dampen corporate earnings. Photograph:  Michael Nagle/Bloomberg

Stoxx Europe 600 Index takes five-day advance to 1.3% while Iseq falls 0.3%

Fitzwilton House: Iput plans to demolish the  1960s building and construct a new 17,405sq m office development, ranging from four to eight storeys

An Bord Pleanála clears Irish property fund Iput for €45m redevelopment by canal

Last year, AIB paid the highest levy at €60 million, followed by Bank of Ireland at €38 million, Permanent TSB at €27 million, Ulster Bank at €18 million and KBC Bank Ireland at about €7 million

Extension intended to generate income of €750m for exchequer

Mobads founder Kieran O’Keeffe, right: based in London, the company launched in October 2006 and has MobileWebAdz, Reporo, and BuzzCity as its brands

Founder Kieran O’Keeffe nominated for an EY Entrepreneur of the Year award

Mike McKerr: “It really would be a backward step in reinstating a hard border with the South”

Third year in a row in which accounting and consulting firm records revenue growth of 16% or more

Sonia Flynn, international VP at SoundCloud, is  one of Plynk’s strategic advisors. Photograph: Dara Mac Dónaill

Bank of Ireland, Delta, Enterprise Ireland and NDRC funding Irish payments start-up

In July PTSB announced a return to profitability for the first time since 2007 with an after-tax surplus of €80m for the six months to the end of June

Unite’s near 1,000 members in PTSB have rejected proposal on pay and performance

A branded taxi outside Unilever’s Marmite factory in Burton upon Trent in Britain. Photograph: Reuters

Unilever describes comments by SuperValu, operated by Musgrave, as ‘entirely inaccurate’

The accounts show that KCII Ltd acquired a majority stake in Brindisi which owns 92 per cent of Post Publications, which publishes the Sunday Business Post newspaper.

NI biomass venture Tyrone Energy contributes €2.6 million to KCII’s profit

Accounts just filed for Goldman Sachs Ireland Finance show that it made a profit of $1.7 million in 2015, up from $700,000 in the previous year. Photograph: Brendan McDermid/Reuters

Firm made $1.7m in 2015, as global heavyweight continues to wind up operations here

Under the  scheme customers who link their Bank of Ireland credit cards to SuperValu’s loyalty card will earn 250 bonus points, which can be swapped for money-off vouchers

Retailer’s scheme is in partnership with Bank of Ireland and Electric Ireland

SuperValu said: “We do not believe a price increase on the products under discussion is justified given the current exchange rate.” Photograph: Cyril Byrne

Retailer and supplier of lines such as Lynx and Pot Noodle in dispute over rising costs

Charles Haughey: in 1969, the then minister for finance introduced the artists’ exemption. Photograph: Alan Betson

Report considers income averaging, though other forms of funding might better suit

Developer Michael O’Flynn: “I couldn’t believe they left the 9 per cent rate for tourism in place when you can’t get a hotel bed in Dublin. Good luck to that industry but we need the same treatment,” he said. Photograph: Brenda Fitzsimons

Call to cut rate from 13.5% to 9% in sector that is ‘on its knees’ unheeded by Government

The Central Bank’s budget for regulating the financial sector is to rise  by 8 per cent to €148.3 million this year. Photograph: Matt Kavanagh

Insurance industry raises concerns about Central Bank plan to recoup regulation costs

A mock customs hut put up by Brexit protesters at the border town of Carrickcarnon:  Ireland is heavily exposed to Brexit with about 16 per cent of our exports going to the UK, and 40 per cent of indigenous company exports going there.  Photograph: Clodagh Kilcoyne/Reuters

Tax relief for small businesses and exporters, a farmer loan fund and retention of 9% Vat

The chief executive of Irish housebuilder Cairn Homes has welcomed the Government’s Help-to-Buy scheme for first time buyers, saying it represented the the best way to stimulate construction in the short term. Photograph: Alan Betson/The Irish Times.

Michael Stanley says income tax rebate should help first timers get deposit together

The special assignee relief was extended in Budget 2017 until the end of 2020. This was one of  a series of measures to assist sectors of the economy in danger of being adversely effected by Brexit.

Income tax relief scheme for in-State foreign workers costs exchequer €5.9m in 2014

The 1 per cent rate of USC falls to 0.5 per cent on the first €12,012 of eligible income. The next band has come down to 2.5 per cent from 3 per cent for income between €12,013 and €18,772. There will be a reduction to 5 per cent from 5.5 per cent for income between €18,773 and €70,044. Photographer: Chris Ratcliffe/Bloomberg

Noonan says he will phase out USC over time ‘as resources permit’

MEP Brian Hayes: “Unfortunately, we don’t have a well-developed market for fixed-rate mortgages in Ireland.”

Regulators want banks to be better protected from interest-rate risk, says Brian Hayes

Irish Life Assurance said it saw “strong growth in single premium life and pension sales, particularly through the independent broker and branch networks”

Life and pensions group made an after-tax profit of €122m in 2015, up from €47m in the previous year

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