Bernard Byrne, who has held a number of leading roles in AIB, has been named as new chief executive. Photograph: Eric Luke/The Irish Times

Bank must now wait for permission from ECB regulator to make appointment

 Ann Nolan  of the Department  of Finance:  raised issues of proper governance around the sale of Apthorp, a condominium on Manhattan’s upper west side, in 2012. Photograph: Eric Luke/The Irish Times

Department of Finance queried IBRC in 2012 about the sale of multimillion-dollar loan

From 2002 to 2009, Donal Forde ran the AIB unit responsible for €17 billion of loans for land and property development in Ireland. Photograph: Cathal McNaughton/Reuters

Donal Forde says he remains ‘very conscious of my failure and of the bank’s failure’

Former managing director of AIB , Donal Forde, at Leinster House for the hearing of the Oireachtas banking inquiry. Photograph: Clodagh Kilcoyne

Ex-MD who issued €17bn in land and development loans offers mea culpa

Former head of retail operations at AIB Donal Forde: “My own failing is a matter of deep personal regret.”

Inquiry hears evidence from bank’s former head of retail operations Donal Forde

Permanent TSB plans to raise €400 million with potentially additional shares being sold by the Government. Photo: Alan Betson/The Irish Times

Bank plans to raise €400m with additional shares potentially being sold by Government

Brendan McDonagh was summoned to Government Buildings at 7.45pm on the night of the guarantee. He was the NTMA’s director of finance at the time. Photograph: Eric Luke

Brendan McDonagh tells how officials were left in side room during dicussions

While the number of legal cases commenced and the level of repossessions ratchets up, the overall level of arrears has eased for AIB, reducing by 18 per cent in the Republic in 2014. Photograph: PA

Bank’s robust approach in selected cases aimed at flushing out strategic defaulters

Governor of the Central Bank of Ireland Patrick Honohan: would not favour any move to compel Irish banks to lower their standard variable rates. Photograph: Charles Platiau/Reuters

Anger grows at interest rates charged by Irish lending institutions

John Hourican: rejects speculation his return to Ireland is linked to seeking to become the new chief executive of AIB in succession to David Duffy.

John Hourican took job with Bank of Cyprus to rebuild it after national debt crisis

In January, Nama said it had collected €23.7 billion in disposal receipts, so chief executive Brendan McDonagh’s latest presentation suggests that some €1.3 billion in cash was generated by Nama in the first three months of this year. File photograph:  Cyril Byrne/The Irish Times

Chief executive says Nama is ‘firmly on course’ to repay senior debt

Quinn Insurance: as of September 30th, there were 2,317 claims outstanding on its policies. Photograph: Julien Behal/PA Wire

International group’s case to be heard at High Court on June 5th

The RDS wants to increase its main arena capacity from 18,500 to about 25,000 to host Leinster Rugby’s Pro 12 and European home matches, along with the Dublin Horse Show and outdoor concerts. Photograph: David Sleator

Society wants to increase main arena capacity to 25,000 for horse show

Applegreen has 98 forecourts in the State, including 12 dealers and eight motorway stations

Irish fuel group targeting an IPO of its service station business for June

Interior of the five-star Powerscourt hotel in Enniskerry, formerly a Ritz-Carlton, which Tetrarch says pays more than €1m annually in council rates and ground rent to the Slazenger family.Photograph: Cyril Byrne/The Irish Times

Irish investment group in talks with UK chain to bring Z Hotels to Dublin

Michael McElligott photographed at Guild House, IFSC Dublin. Photograph: Brenda Fitzsimons/The Irish Times

With 1,500 employees and €450 million of assets to manage, Tetrarch chief executive Michael McElligott is glad his daughter made h(...)

Banking inquiry committee chairman Ciarán Lynch said: “A key element for the committee is that this inquiry will be conducted in an open and transparent manner.” Photograph; Dara Mac Dónaill

Biggest expenditure has been on staff and recruitment at €1.32m

The Oireachtas Banking Inquiry has called former Taoiseach Brian Cowen to give evidence to the committee. Photograph: Alan Betson

Charlie McCreevy among others who received letters from Oireachtas committee

The number of accounts in arrears of 90 days or more fell by 1,730 to 59,138 Photograph: iStockphoto/Thinkstock

Data show that 3,101 owner-occupied home loans came out of arrears during the month

It is amazing how the fortunes of Permanent TSB have changed in the past six months

It’s still a stretch to think we’ll get back entire €2.7bn in bailout funds but picture is brighter

TV3’s chief executive David McRedmond declined to comment to The Irish Times on Doughty Hanson’s decision to cease fundraising for a new fund

Irish station had been the subject some unsolicited bids in past 12 months,

Move is part of €525m capital raising plan via new shares and debt instrument

PTSB, currently 99.2 per cent owned by the State, announced last month that it intended to raise €525 million in new capital

State’s shareholding in PTSB not expected to drop below 75 per cent

The 350-acre Mayo property was once Guinness family home

The 32-seat cinema which has been added to Ashford Castle

Cong resort covers 350 acres and offers spa, pool and luxury facilities

Mortgage arrears service at KBC Bank. Photograph: Bryan O’Brien

KBC and the Irish Mortgage Holders Organisation (IMHO) extend advice and negotiation services

 Sherry Fitzgerald’s turnover in the 12 months to the end of December 2013 rose by 28 per cent to €20.8 million. Photograph: Cyril Byrne

Pretax profit of €100,000 marked a near €1m turnaround on previous year

PTSB has also agreed to the disposal of certain non-core assets in Ireland and the UK

Permanent TSB updated restructuring plan approved by European Commission

AIB is a significant provider of seed capital funding in Ireland. It has committed €90 million to six funds, which have a combined size of €343 million

Elan offshoot has now secured €103m for venture capital fund

Jeremy Masding, group chief executive, and Alan Cook, chairman, Permanent TSB,   at the agm in Dublin. Photograph: Alan Betson/The Irish Times

Chairman Alan Cook takes some heavy blows from irate investors

 Jeremy Masding, group chief executive, and Alan Cook, chairman at Permanent TSB annual general meeting in Dublin. Photograph: Alan Betson / The Irish Times

PTSB to reveal details of fundraising plan in “next few weeks”

The IMHO’s proposals will probably prove too radical for the Government but changes will be made. Photograph: Thinkstock

IMHO has proposed a number of changes to address the risk of significant home repossessions

Plan involves local authority supplements to prevent 25,000 home repossessions. Photograph: Thinkstock

IMHO calls for scheme to help borrowers in arrears

Former English flanker Neil Back, one of TV3’s match analysts for its   Rugby World Cup coverage. Photograph: Ryan Byrne/Inpho

Broadcaster sells more than €3m of advertising in one day

Former editor of The Irish Times Geraldine Kennedy arriving at Government Buildings  for a hearing of the banking inquiry. Photograph: Bryan Meade

Editorials and articles addressed property issues, says former editor

Former editor of The Irish Times Geraldine Kennedy arrives at the Dail for her appearance before the banking inquiry. Photograph:  Bryan Meade/The Irish Times

Geraldine Kennedy tells banking inquiry ‘magnitude’ of crash not predictable

Brian Hayes has campaigned against what he views are “excessive” standard variable mortgage rates  charged by Irish banks since being elected to the European Parliament. Photograph: Dara Mac Dónaill/The Irish Times

Commission rejects Brian Hayes’s call to investigate ‘excessive’ variable mortgage rates

 Fianna Fáil leader Micheál Martin with  finance spokesman Michael McGrath. The party would be prepared to support the payment of a long-term bonus to the new chief executive of AIB. Photograph: Gareth Chaney/Collins

Private investors like their senior executives to have some skin in the game

Former Italian prime minister Mario Monti warned anti-Brussels sentiment and rising populism in France threatened to blow the bloc’s Franco-German axis apart. Photograph: Chris Ratcliffe/Bloomberg

Aramark eyes Avoca, Aer Lingus bid latest and Europe’s ‘big problem’

The showcase race at the Easter Festival is the Boylesports Irish Grand National, which this year has an increased prize pot of €275,000

Course manager hoping for good weather for three-day Easter event

IFSC in Dublin: 5,000 new fintech jobs would represent a doubling in employment in this burgeoning part of the IFSC. Photograph: Bryan O’Brien / The Irish Times

Ireland needs to tap venture capital more for FinTech funds

Irish property developer Johnny Ronan:  Believed to be just days away from exiting from Nama

Former Treasury Holdings partner has over €250m debts with Nama

The economic recovery and increasing numbers of overseas visitors has boosted business at the K Club

K Club resort is undertaking €20m expansion that includes an additional 70 bedrooms

European Central Bank president Mario Draghi arriving for an EU summit in Brussels yesterday. Photograph: AFP Photo/Thierry Charlier

ECB says it does not take part in national parliamentary inquiries

Denis Brosnan: “If you worked in a multinational you saw no recession in the past five or six years. If you worked in a small business you’ve either gone out of business or you’re still struggling to survive”

Former Kerry Group chairman says financing of local economy would help SMEs

Mickey O’Rourke:, said revenues at Setanta’s Irish business amount to about €30 million annually. Photograph: Eric Luke

Investment includes rights deal with Uefa to cover Champions League

 Mickey O’Rourke, Setanta Sports. Photograph: Eric Luke / The Irish Times

After founding the sports network in 1990, owner Mickey O’Rourke has seen it endure some tough times

 Banking inquiry chairman Ciarán Lynch:    would not put a cost on the increased security around the 30,000-plus documents that it has received from various banks and institutions in recent months Photograph:  Dara Mac Dónaill/The Irish Times

Oireachtas committee has to be careful not to cut across legal proceedings being pursued by Director of Public Prosecutions

Bank of Ireland chief executive Richie Boucher. His pay has remained unchanged since 2013.

Chief executive’s total remuneration unchanged on 2013 at €843,000

PTSB wants to consolidate the number of shares in issue from the current  36.5 billion to 365 million. Photograph: Alan Betson/The Irish Times

PTSB says higher price-per-share range would be ‘more appropriate’ after capital-raising

Philip Smith and his legal team arrived at the Employment Appeals Tribunal earlier this month. Photograph: Dave Meehan

Counsel for former chief executive seeks to punch holes in insurer’s processes

John Sheehy is the latest senior executive to leave Liberty in recent months

Former Quinn Insurance says it has lined up replacement

Philip Smith, former chief executive of RSA Ireland, arriving at the Employment Appeals Tribunal. The tribunal heard that Mr Smith rang the chairman of the company’s Irish board on the day the terms of an internal financial inquiry were being framed. Photograph: Dave Meehan

Philip Smith allegedly sought assistance before internal inquiry

Philip Smith said he had been made the “fall guy” by RSA when certain issues emerged at the Irish business in October 2013. Photograph: Gareth Chaney/Collins

Accusation that inquiry's findings were pre-ordained incorrect, tribunal told

 David Duffy, AIB’s outgoing chief executive: Fianna Fáil’s finance spokesman Michael McGrath said AIB needed to “cast the net far and wide in the search for a top calibre candidate” to replace him. Photograph: Eric Luke

Payment would depend on five-year contract and return on bailout funds

PTSB Group chief executive Jeremy Masding: the bank has offered 27,000 sustainable long-term solutions to its mortgage arrears customers

Bank turns in a good result with 2014 income up by €56m to €308m

Chief executive Jeremy Masding said the core bank was “well placed to return to sustainable profitability on schedule.”

Number of customers in mortgage arrears is down 32 per cent from 2013 peak

Philip Smith leaving the offices of the Employment Appeals Tribunal on the first day of his case against Royal Sun Alliance (RSA).Photograph: Dave Meehan

Ex-RSA chief tells tribunal there was ‘concerted effort’ to effect his dismissal

Philip Smith: former chief executive of RSA painted a picture of a successful Irish business that had its presses raided in the boom years by its parent company in the UK. Photograph: Gareth Chaney Collins

Smith tells hearing RSA parent saw Irish arm as ‘treasure cave’

Former RSA Insurance Ireland chief executive Philip Smith has told the Employment Appeals Tribunal that more than €250 million of reserves at the Irish business was used to support the results of its UK-based parent company between 2007 and 2011. Photo: Bloomberg

EAT hears €250m of reserves at Irish arm of RSA used to support results of parent firm

“Irish customers often research prices online when policies are taken out and this is also a trigger for switching,” James Maher of EY Ireland said.

Only 3% had complete trust in insurance provider

Housing activity stagnated last month, a marked turnaround from the record rates of expansion recorded as recently as last September. Photograph: Cyril Byrne/The Irish Times

Mortgage lending regulations could be linked to decline

Philip Smith, former chief executive  of RSA’s Irish operations: will argue he was the fall guy for the problems at RSA Ireland

Philip Smith case alleging constructive dismissal by RSA to be heard by tribunal this week

Permanent TSB’s annual meeting will be held on April 8th with the bank expected to outline its plan to shareholders. Photograph: Alan Betson / The Irish Times

PTSB plan to raise €855m to fill capital hole in European bank stress tests gets green light

 David Duffy: When he joined AIB in 2011 his job was to stabilise a bank that was in disarray at board level and at loggerheads with the Government, its key shareholder.  Photograph: Eric Luke

Duffy legacy will be he started ball rolling in bank’s return to private ownership

The one question that hasn’t been answered is who will replace David Duffy as chief executive

Bank back in profit but unclear who will steer ship in years ahead

AIB said the number of Irish owner occupied mortgage accounts in arrears declined by 22 per cent during the year

Bank bounced back in 2014 with a €1.1 billion pre-tax profit

Dr Peter Bacon, economic consultant and former stockbroker, wrote three reports for government on the housing market. Photograph: Brian Lawless/PA Wire

Bacon slick as Ahearne puzzled by guarantee detail

The historic Bank of Ireland branch on College Green, Dublin. Photograph: Bryan O’Brien

Bank plans heritage centre in historic College Green branch

Inquiry examining interaction between property and banking sectors with political sphere and how media covered the sector

PTSB Group chief executive Jeremy Masding: it appears that investors are warming to the idea of taking a punt on the company, helped   by the recent renaissance of the Irish economy. Photograph: Alan Betson/The Irish Times

AIB and PTSB, both 99 per cent State-owned, will shortly publish interesting full-year results

In January, AIB announced plans to outsource 170 staff in its IT division. This involves outsourcing three elements of its IT services – telecoms, operations security, and hosting and storage. Photograph: Thinkstock

Some 40 AIB staff could transfer to Eircom after accepting outsourcing arrangements

FBD predicted its motor premiums would rise on average by about 7 or 8 per cent this year to reflect the increase in claims resulting from the economic recovery.

Frequency of motor claims a factor in company drifting into red last year

 Declan Black, managing partner of Mason Hayes and Curran. Photograph: Cyril Byrne

Law firm considers relocating to accommodate staff after 20% rise in numbers on back of economic recovery and business from intern(...)

27/02/2015...Business...Richie Boucher (left) Group Chief Executive and Andrew Keating Group Chief Financial Officer of Bank of Ireland Group picutred at the companies preliminary results for the yar ending 31st Decemebr 2014, in a new branch of Bank of Ireland in Grand Canal Square.Photograph: Aidan Crawley

Banking inquiry a distraction as bank looks to consolidate recovery in face of fragile EU economy and political uncertainty at hom(...)

Richie Boucher Group Chief Executive and Bank of Ireland Group pictured at the companies preliminary results for 2014, in a new branch of Bank of Ireland in Grand Canal Square. Photograph: Aidan Crawley

Chief executive Richie Boucher says bank has ‘constructively engaged’ with inquiry as he reports €921m pre-tax profit for 2014

This represents a €1.5 billion turnaround on the €564m loss the bank generated in 2013

Permanent TSB’s capital-raising plan has yet to be finalised by the board and presented to the Minister for Finance for approval. Photograph: Alan Betson / The Irish Times

Some of funds could be used to repay State’s €400m in CoCo notes

AIB recently outsourced a large number of support roles to the Noonan Group. Photograph: Bryan O’Brien

Review of functions at printing centre under way but no decision has yet been made

Called to appear at the banking inquiry: Richie Boucher, Michael Buckley, Richard Burrows, Laurence Crowley, Frank Daly, Donal Forde, Robert Gallagher, Dermot Gleeson, Brian Goggin, Cormac McCarthy, Brendan McDonagh, Eugene Sheehy, Michael Torpey

Former executives of BofI, AIB, Ulster Bank summoned to appear

Ulster Bank chief executive Jim Brown said the results were a “clear signal” that its strategy was working and “evidence of sustained progress across all areas of the bank”.

Bank made an operating profit of €752m last year

Sir Anthony O’Reilly has been gradually winding down his stake in INM since losing control of the business in 2012. Photograph: David Levenson/Getty Images

Disposal would have been worth at least €1.3m

 Economist Alan Ahearne: his report on the role of the reduced VAT rate in restoring competitiveness in Ireland’s tourism industry was published at the “Strength in Resilience” conference. Photograph: Dara Mac Dónaill

Reduced rate for tourism services introduced mid-2011 meant to be a temporary measure

Numbers down in 2014 but compensation rose by 2.4 per cent to €954,916

Greet Reit chief executive Pat Gunne (right) and director Stephen Vernon. Photograph: Eric Luke / THE IRISH TIMES

Property group’s interim results showed steep rise in profits and in rental income

The State owns 99.8 per cent of AIB’s ordinary shares and also holds €3.5 billion in preference shares and €1.6 billion in contingent capital notes

Appointment follows tender process and comes after selection of advisers by the State in relation to AIB

Revenue’s Offshore Assets Group undertakes investigations into possible tax offences arising from offshore bank accounts held by Irish residents. Some €9.21 million was collected by Revenue in 2014 from this unit’s work, down from the €14.87 million it gathered in the previous year.

Probes since 2001 into offshore accounts include €4.6m from Irish HSBC customers

Brian Hayes: a “radical change” of the current Irish mortgage system is needed

Variable interest rates charged by Irish financial outlets ‘excessive’, says Brian Hayes

Nama is aiming to redeem a cumulative 80%, or €24 billion, of its senior debt by the end of 2016 and hopes it will have redeemed all of its senior debt by the end of 2018.  Photograph: Cyril Byrne/The Irish Times

Michael Noonan says Nama aims to complete this latest sale process by mid-2016

Patrick Honohan: outlines two scenarios in his letter to the enquiry. Photograph: Alan Betson / The Irish Times

Central Bank governor says he wants to clarify his discussions on bank guarantee

In Dublin, Bank of Ireland was the main mover on the day, up 5 per cent at 31.7 cent as about 100 million shares changed hands. Photograph: Frank Miller

Stocks climb on optimism on Greece and report on accelerating German economy

The Government’s draft strategy for the IFSC has targeted 10,000 new jobs over five years. Photograph: Bryan O’Brien

Cantillon: State should signal 12.5% rate is sacrosanct, says banking federation

The bailout loan interest figures emerged in a written answer from the Minister for Finance Michael Noonan to a question from Fianna Fáil’s finance spokesman. Photograph: Yves Herman/Reuters

Lowest rate is paid to Denmark: 1.07%

PrePayPower is Ireland’s biggest pay-as-you-go electricity supplier

Company backed by Dublin-based Ion Equity

Ninister for Finance Michael Noonan. Ireland last year paid €405 million in interest to the European Financial Stability Facility and €661 million to the European Financial Stabilisation Mechanism

State has spent €28.5 billion servicing the national debt since 2010

Irish Life generated an after-tax profit of €184 million in 2014 in its first full year under the ownership of Canadian group Great-West Lifeco.

Irish Life made profit of €184m in its first year under Canadian ownership

John FitzGerald  gave the Banking Inquiry an insight into the mindset of the top brass at AIB in 2006, which  it seems had its own concerns about the Irish economy at that time. File photograph: Bryan O’Brien/The Irish Times

Think-tank economist gives insight into mindset of top brass at AIB in 2006

John  FitzGerald was of the view that  concern over stress tests emanated from the board of AIB. “This would not have happened unless there was very senior buy-in [at AIB].” File photograph: Alan Betson/The Irish Times

AIB wanted review because it was not satisfied with exercise by Central Bank

John Fitzgerald, research affiliate at the ESRI, said that the ESRI did not draw the connection between the growth of a property market bubble and the risks to the Irish financial system. (Photograph: Alan Betson / The Irish Times)

Research institute made a ‘big mistake’ by not spotting banking difficulties

More articles