Central Bank deputy governor Ed Sibley

Central Bank deputy governor urges banks to start putting customers first

 Governor of the Central Bank Philip Lane: how can he force lawyered-up banks to do the right thing for customers caught up in the tracker mortgage scandal? Photograph: Cyril Byrne

Capital, dividends and bonuses are words tracker-scandal bankers may understand

 Minister for Finance, Public Expenditure and Reform Paschal Donohoe:   what matters to those affected is “not the completion of a probe, but the end of a journey”. Photograph: Dara Mac Dónaill

Government to seek firm commitment and timeline for compensating tracker victims

CRH buoyed by renewed hopes that US president Donald Trump will be able to push through infrastructure spending plans

Market report: CRH stood out as a bright spot, rising almost 2 per cent to €31.25

“Right around the world, if you talk to regulators, fines are one-dimension ... but reputation is very important.” Photograph: iStock

Governor hopes to persuade banks to make ‘decent upfront offer’ to affected customers

Ireland’s 15 mortgage lenders have had to respond to the Central Bank. Some have been more upfront than others

A fallen tree on Northbrook Road in Ranelagh, Dublin, following Storm Ophelia.  Photograph: Tom Honan

Damage claims may be lower than those for Storm Darwin in 2014, says industry body

Ulster Bank has started using an artificial intelligence platform to personalise future interactions with customers. Photograph: Nick Bradshaw

Artificial intelligence technology is helping the bank work out what people want

“AIB has consolidated its position in the Irish market and now has number one market share in household mortgages and SME loans.” Photograph: Alan Betson

German analysis finds that Ireland is a ‘very attractive banking market’

Central Bank governor Philip Lane: said the Central Bank had to “push to the limits” of its powers. Photograph: Alan Betson

Taoiseach says Government ‘has lost patience’ with Irish banks over tracker mortgage scandal

Joesley Batista: last month, both Joesley and Wesley Batista were arrested and jailed. JBS named their father, Jose Batista (84), as chief executive, replacing  Wesley.  Photograph:  Sergio Lima/AFP/Getty Images

Regulator alleges Jeremiah O’Callaghan failed to question JBS managers about plea bargain

Brexit complexities could deliver a boon for corporate law firms in Dublin and add to the International Financial Services Centre’s  attraction as a base.  Photograph: Aidan Crawley

Derivatives plan may deliver boon to Dublin law firms and IFSC

MEP Matt Carthy: “The extremely low number of reported schemes raises questions about the poor effectiveness of the mandatory disclosure scheme.” Photograph: Dara Mac Dónaill

Exemptions make the mandatory disclosure regime a joke, says MEP Matt Carthy

The Square Tallaght, where a majority stake  is   for sale. Photograph: Brenda Fitzsimons.

Sale process for the Dublin shopping centre enters final phase with price tag set at €233m

 People gather sand bags to protect their homes at Sandymount as storm Ophelia builds off the East Coast. Photograph: Cyril Byrne

Insurer’s share price fell by more than 4% as Ireland was battered by extreme weather

Ryanair dropped 1.9 per cent to €16.60  as Ophelia slammed into Ireland.

Market report: Iseq index in Dublin stood out as a weak spot as investors speculated on cost of Ophelia

Strong demand for the stock since the IPO last Tuesday has allowed the brokers in Credit Suisse to place the additional shares

Placement of additional shares sees Oaktree’s stake dip to 16.5%

Ulster Bank will keep all of its branches in the Republic closed on Monday. Photograph: Nick Bradshaw

AIB initially kept a quarter of branches open but extended closures by mid-morning

AIB CEO Bernard Byrne, middle, rings the bell at the Irish Stock Exchange in June following the bank’s successful stock market listing. Advisers to the flotation earned millions of euros in fees.  Photograph: Dara Mac Dónaill

Irish stockbroker Goodbody also received large fees from bank’s stock market listing

European Central Bank president Mario Draghi: left investors grappling with low incomes as a result of the €2.3 trillion stimulus programme he launched. Photograph: Armando Babani/EPA

Has CRH boss Albert Manifold got an ace up his sleeve in bidding battle for Ash Grove?

 Carton House Hotel, Spa and Golf Resort in Co Kildare. File photograph: Alan Betson

Agency plots to discharge €4bn in loans and assets ahead of final senior bond buyback

Denis O’Brien’s Digicel telecommunications group is reportedly preparing to make up to a $50 million insurance claim for damages.

Significant part of Digicel’s Caribbean network suffered damage as result of Irma

About 800 AIB employees, including chief executive Bernard Byrne, will move to the 115,000sq ft  office building on Molesworth Street in 2019

Molesworth Street office is being developed by property fund Iput at a cost of €45m

Minister for Finance Paschal Donohoe: Mr Donohoe said the private investors in NAMAIL received €13.5 million of dividend to date. Photograph: Dara Mac Donaill

Clergy pensions fund and Representative Church Body hold a combined 5.75%

Since Nama was tasked in 2014 with helping to deliver more homes in Ireland to alleviate undersupply, the agency has delivered almost 5,600 homes, with a further 3,000 under construction

Home Building Finance Ireland to be allocated €750m to help deliver 6,000 homes

Banking union: A mural by street artist Banksy depicting a European Union (EU) flag being chiseled by a workman on the side of a building in Dover, England, last month. Photograph: Luke MacGregor/Bloomberg.

Commission yet to reach consensus on insurance scheme after German pushback

AIB confirmed earlier this month that it plans to set up a holding company at the top of its corporate structure. Photograph: Cyril Byrne

Bank’s level of impaired loans has declined since the end of June

Taoiseach Leo Varadkar and  British prime minister Theresa May: the Brexit loan scheme will be aimed at SMEs as they deal with the UK’s exit from the European Union in 2019. Photograph: Philip Toscano/PA Wire

Minister allocates €25m to agri-food industry and retains 9% VAT rate for tourism sector

Haven Mortgages, the AIB unit that offers home loans through brokers, saw its loan book  outshine its parent group

Increase of 18.6 per cent reflects group’s success in attracting new customers

Glenveagh has set itself a target of building 1,000 new homes a year by 2020. Photograph: iStock

The first Irish housebuilder to float in two years saw its shares jump 14%

Simon Coyle, former managing partner at Mazars: “You had people with no tradition in investment buying Bulgarian and Spanish properties or shopping centres as parts of syndicates in Germany.”

Banks have not dealt with investments made by doctors, lawyers and judges before crash

Kerry’s shares  reached an all-time high of €84.57 on Friday, before pulling back on Monday as investors eyed the company’s first presentation to analysts on Wednesday under new chief executive Edmond Scanlon. Photograph: Dara MacDonaill

Ireland’s Iseq out of sorts, with market heavyweight Kerry Group falling by 2.1%

The European Central Bank has signalled that about 45 per cent of the euro-area’s biggest 111 banks may be forced to hold more capital in reserve to deal with risks as a result of a “shock” interest rate increases.

51 out of euro-area’s largest 111 banks face additional capital targets as ‘starting point’

Tommy Kelly, chief executive of eShopWorld, which has just seen investor Ascendia – a joint venture between the French and Swiss postal services – increase its stake in the business to 50 per cent. Photograph: Jason Clarke

Franco-Swiss joint venture increases its holding in Irish ecommerce firm to 50%

Irish construction activity accelerated in September, though the rate of job creation across the industry pulled back from elevated levels in previous months. Photograph: Alan Betson

Civil engineering projects still contracting and pace of expansion in housebuilding slows slightly from August high

Friends First HQ

Sale of Irish insurance group had attracted several suitors including ‘zombie’ specialists

Robert Mulhall AIB MD Retail & Commercial Ireland. Photograph: Alan Betson

Bank says annual changes may lead to price distortions in the housing market

Alan Walsh, CEO of One51

Homebuilder’s flotation comes with caveats – and eye-watering executive incentives

Alan Walsh, chief executive of One51. Photograph: David Meehan

Plastics firm has been planning stock market flotation

Glenveagh says it could build 95,000 homes

Glenveagh Properties says 30 sites owned by religious orders could provide 6,500 homes

European competition commissioner Margrethe Vestager said on Wednesday she had referred Ireland to the European Court of Justice for failing to recover some €13 billion in illegal state aid from Apple. Photograph: EPA

Q&A: State likely to appoint custodians and money managers for Apple tax in November

Ulster Bank: Criticised for failing to give overcharged customers proper information. Photograph: Nick Bradshaw

RBS-owned bank has identified 3,500 customers caught up in ECB tracker rate scandal

One51 chief executive Alan Walsh. The firm said it plans to reorganise its structure and that of its North American plastics unit IPL. Photograph: The Irish Times

Plastics company currently sees IPO as best option for shareholders as suitor circles

AIB said on Wednesday that the High Court, which must rubber stamp the restructuring, has ordered the bank to hold an egm on November 3rd on the matter.

Planned new structure aimed at affording taxpayers and depositors more protection

The European Commission has moved to refer Ireland to the European Court of Justice for failing to recover up to €13 billion of illegal state aid from Apple. Photograph:  Josh Edelson/AFP/Getty Images

Commission says Government dragging feet in collection of back taxes

The ECB, which took over the supervision of euro-zone banks in late 2014, has prioritised the tackling of non-performing loans (NPLs) across the sector. Photograph: iStock

Banks face higher capital demands and possible sanctions for failing to comply

The five-year bonds issued by the NTMA were priced to carry a yield of -0.008 per cent. Photograph: Dave Meehan

NTMA raising money to help repay loans from IMF, Sweden and Denmark

 “Anyone who receives correspondence of this nature should be vigilant,” a spokesman for the Irish Stock Exchange says. Photograph: Dara Mac Dónaill

New York-based finance company has been offering to buy small investors’ shares

New Irish housebuilder Glenveagh Properties is offering the shares at €1 each before they are set to float on the Dublin and London stock exchanges on October 10th

New Irish housebuilder plans to be building at least 1,000 homes by 2020

From January 1st, the ECB will give banks two years to set aside money to cover 100 per cent of the value of their non-performing unsecured debt, a draft document shows. Photograph: iStock

Banks likely to tighten access to lending and be more aggressive in dealing with arrears under proposed new rules

One51 chief executive Alan Walsh. Photograph: Dave Meehan

UK group Cap Vest reported to have made second bid to buy plastics manufacturer

New Bank of Ireland chief executive: Francesca McDonagh said in a video message that she plans to ask staff for feedback and engage directly with customers

Francesca McDonagh set to assess IT scheme to take costs below 50% of income

Glenveagh’s founding directors  John Mulcahy, executive chairman; chief executive Justin Bickle; and chief operating officer Stephen Garvey. Photograph: Fennell Photography

Irish housebuilder plans to build at least 1,000 new homes each year by 2020

AIB cost €20.8 billion to rescue during the financial crisis. Photograph: Crispin Rodwell/Bloomberg

Irish bank will set up holding company to meet new European rules on future bailouts

The NTMA’s headquarters in Dublin. The agency plans to sell a new bond to help refinance €5.5bn  of Ireland’s remaining IMF debt, as well as bilateral borrowings from Denmark and Sweden

Agency says its full-year bond issuance may exceed €13 billion, upper end of previous goal

Aryzta chairman Gary McGann is keen for the company’s new managment team to focus on the future rather than dwell on the past. Photograph: Eric Luke

Kerry Group boss opts for long goodbye as turnover among Iseq chiefs speeds up

One51 chief executive Alan Walsh has spent his seven years in charge of the firm  unravelling its collection of disparate investments. Photograph: Cyril Byrne

Irish firm has about 2,000 shareholders in Ireland with shares traded on grey market

 Pat Creed

Move comes as bank’s new CEO, Francesca McDonagh, prepares to take over

Stamp duty consultation: Minister for Finance Paschal Donohoe, pictured at The Irish Times PwC Tax Summit. Photograph: Nick Bradshaw

Paschal Donohoe seeks feedback on alternative revenue sources

One51 chief executive Alan Walsh: advancing IPO plans. Photograph: Dave Meehan.

Plastics manufacturer aiming to float on stock market within 12-18 months

Permanent TSB: has identified 579 additional cases of tracker mortgage overcharging as part of Central Bank-ordered review. Photograph: Alan Betson

Bank expects up to 2,000 borrowers to take up offer to forfeit home to become tenants

Some lenders have yet to disclose full details of the impact of their refusal to offer tracker rates to thousands of customers. Photograph: iStock

Arrears exacerbated by banks’ refusal to offer low-cost rates to which they were entitled

Applegreen: shares likely to trade at a slight discount to the €6.19 price at which they closed in Dublin on Thursday. Photograph: Cyril Byrne

Forecourt retailer will seek to sell 5 million shares in the market to fund acquisitions

Minister for Finance Paschal Donohoe: Financial firms will pay 65% of regulatory costs this year. Photograph: Brenda Fitzsimons

Minister for Finance decides to get financial firms to pay 65% of regulatory costs this year

KBC Ireland chief executive Wim Verbaeken pictured at the bank’s Dublin office in February. Photograph: Brenda Fitzsimons/The Irish Times.

Bank alone among top Irish lenders not to outline extent of tracker mortgage issue

Permanent TSB: Expects up to 2,000 customers will avail of ‘mortgage-to-rent’ scheme. Photograph: Nick Bradshaw

Bank identifies up to 1,000 borrowers for debt forgiveness

Aryzta’s  aim is to refocus the food company and pay down debt  following a series of profit warnings

Fine foods supplier was only bought by embattled baked goods group in 2015

Bruce Thompson, a former group chief financial officer and head of risk for the Bank of America group, who will lead its post-Brexit hub in Dublin. Photograph: David Hume Kennerly

Company is expanding its operations in several cities across Europe

The Irish Stock Exchange’s IPOready programme will put 24 chief executives, chief financial officers and chief operating officers through their paces in a 15-month schedule. Photograph: Dara Mac Dónaill

IPOready also attracts Atlantic Therapeutics, O’Reilly Group, PMD Solutions and Taoglas

AIB is the latest lender to find further problems as the industry continues to carry out examinations, as directed by the Central Bank in late 2015, of cases where customers were wrongly refused a tracker rate. Photograph: Reuters

Bank identifies additional tracker loan overcharging problem as review continues

Michael Fingleton, who led the society for 38 years until 2009 and is one of the five under investigation, informed the inquiry that he was unable to attend Tuesday’s meeting.

Society’s former chief executive Michael Fingleton didn’t attend Monday’s meeting

Irish Stock Exchange chief executive Deirdre Somers at the AIB market listing earlier this year  with the bank’s chief executive Bernard Byrne and chairman Richard Pym. Photograph: Dara Mac Dónaill

Owned by five stockbrokerages in Dublin, ISE has strong links with Frankfurt exchange

The Revenue Commissioners issued guidance this week in relation to the taxation of Irish property held in fund structures beloved by vulture funds. Photograph: Alan Betson

Strict interpretation of Noonan measure leaves vulture funds within reach of taxman

British prime minister Theresa May  delivers a speech in Florence on Friday aimed at unlocking Brexit talks. Sterling fell following her comments while Irish stocks exposed to the UK also suffered. Photograph: Maurizio Degl’Innocenti/AFP/Getty Images

FTSE-100 manages to eke out a gain as exporters cheer sterling’s weakness

Ardagh chief executive Ian Curley: he has   handed in his resignation to “pursue other business opportunities”

Surprise move just six months after Ardagh floated on New York Stock Exchange

The Central Bank. Deputy governor Ed Sibley warned: “Accounting write-offs have not featured to the extent warranted.”

Non performing loans remain well above EU averages, Sibley says

IBI managing director Tedd Webb and chief executive Tom Godfrey are in advanced talks with Bank of Ireland. Photograph: Naoise Culhane

Bank pay restrictions are said to have played a part in IBI buyout deal

 President of the ECB Mario Draghi at Trinity College Dublin. Photograph: Alan Betson

ECB chief says EU governments must do more to tackle youth unemployment

Polls indicate German chancellor Angela Merkel’s CDU and its sister party the CSU have a 15-point lead over their nearest rivals. Photograph: Kai Pfaffenbach/Reuters

Greek debt and restructuring Italy’s financial system key issues for EU, says bank strategist

Bank of Ireland said it had identified 602 customers who had been wrongly denied a cheap mortgage that tracks the ECB benchmark rate. Photograph: Dara Mac Dónaill

Lender says it has ‘no plans’ to follow other lenders in selling non-performing mortgages

A selection of five, ten and 20 euro banknotes  . Photographer: Chris Ratcliffe/Bloomberg

Negative yield reflects ongoing ECB quantitative-easing bond-buying programme

CRH chief executive Albert Manifold: the company is now well placed to benefit from US president Donald Trump’s infrastructure plans.   Photograph: Cyril Byrne

Shares jump as building materials giant buys US’s fifth-largest cement company for $3.5bn

Spider-man, whose alter ego on this occasion is Jamie Kenny from Drogheda, attends Dublin Comic Con 2017, held in the Convention Centre Dublin. Photograph: Nick Bradshaw

Operating profit at company running the venue rises almost 11% to €5.59m

Brian Hayes MEP said “ultimately there will be a deal on tax” as both Fianna Fáil and Fine Gael want the budget to go through. Photograph: Alan Betson

Both parties know they are fighting over ‘peanuts’ in budget, says MEP

Harvest services about 1,500 clients with retirement planning, financial planning and investment advice. Photograph: Andrea Comas/Reuters

Possible link-up in the offing as FTSE 100 investment giant looks to expand into Republic

Ryanair’s chief executive Michael O’Leary speaking at a press conference in Dublin to defend the airline over its decision to cancel up to 50 flights a day to deal with a staff rostering issue. Photograph: Nick Bradshaw

Some €1.4bn has been wiped off Ryanair’s market value since it began cancelling flights

Fyffes faced outright expulsion last week, but Ethical Trading Initiative has decided to give the new talks a chance. Photograph: Simon Dawson/Bloomberg

Irish company enters talks with unions on a dispute over Honduras farmers’ rights

Forensic accountants hired by the Central Bank to look into Rush Credit Union were unable to track down winners of 15 car draws, involving an outlay of €220,860, between November 2012 and April 2016. Photograph: North County Leader

Central Bank issues prohibition notice into Anne Butterly following investigation

Ryanair has lost as much as €2.1 billion of its market value since the middle of last week, as the carrier’s move to scrap thousands thousands of flights over the next six weeks added to the impact of news on Thursday of a potentially costly European court ruling Photograph: RollingNews.ie

Low-cost carrier’s shares have fallen almost 10% since the midde of last week

The founder of French broadband internet provider Iliad, Xavier Niel. Photograph: EPA/POOL Philippe Wojazer

Niel learned the art of computer programming as a teenager in the 1980s

Jeremy Masding, group chief executive of Permanent TSB: the bank has the highest ratio of non-performing loans (NPLs) among Ireland’s bailed-out banks, at 28 per cent of its portfolio. Photograph: Colm Mahady/Fennells

Bank under pressure to deal decisively with its €2.68bn of worst-performing mortgages

Bank of Ireland’s chief executive of eight and a half years, Richie Boucher, is preparing to retire early next month, to be succeeded by HSBC executive Francesca McDonagh

Talks reach an advanced stage as bank prepares for change at the helm

French billionaire Xavier Niel is pursuing an investment in Eir through a company called NJJ Capital, according to sources.

Iliad founder Xavier Niel in talks to buy major stake in Eir

Nama was last week given the task of gathering €5.5bn   to repay the State’s remaining 2010 bailout loans from the IMF and  bilateral borrowings  from Denmark and Sweden

Funding agency given task of gathering funds to repay bailout loans early

Eir said on Thursday that its hedge-fund owners are in talks with a potential investor seeking to take a “significant” stake in the firm. Photograph: Alan Betson/The Irish Times

US hedge fund Anchorage Capital owns 42% of Eir’s equity

Eir’s headquarters in Dublin. The telecoms group’s full-year profits rose 4 per cent to €520 million, while revenues were steady at €1.3 billion. Photograph: Alan Betson

Telecoms group considers alternative to listing on stock market

Former Central Bank governor Patrick Honohan is to co-author a review of Iceland’s future monetary policy direction. Photograph: Matt Kavanagh

Central Bank ex-governor to advise on inflation as economy rebounds from crisis

CRH: the firm’s stock, which accounts for almost a quarter of the Iseq,  gained 0.4 per cent after  Morgan Stanley raised its stance   to “equal-weight”, the equivalent of “hold”, from “underweight”. Photograph: Brenda Fitzsimons

Mining drags FTSE down as Apple dissapoints suppliers with late iPhone shipping

New housebuilder Glenveagh Properties is expected to float next month.

Oaktree-backed Irish housebuilder expected to float in Dublin and London in October

Bank of Ireland said that research it commissioned among US-based small- and medium-sized enterprises (SMEs) highlights that many are looking for more efficient and cost-effective ways to make intenational payments.

Deal will allow foreign exchange and payments service for US customers

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