The State’s stake in AIB has dipped below 71 per cent in recent weeks. Photograph: Paul McErlane/Reuters

Government accelerating clawback of the bank’s crisis-era €20.8bn rescue bill

Shadow banking –  non-bank financial activities – includes activity in investment and money market funds. Photograph: Bryan O’Brien

Sector has tripled in size in the past decade and now equates to nine times the size of the economy

Mr Kiely (49) is fighting through the Court of Appeal a decision to send him for trial on alleged theft and fraud offences, dating between 2008 and 2013, that could total €1 million

Company understood to be unaware he was facing trial on alleged fraud offences

Paschal Donohoe: Government had decided against introducing legislation to recover money that insurers had deducted from Covid-19 business interruption payouts. Photograph: Bloomberg

Minister says 402 employers had repaid all the EWSS supports they had received

A spokesman for EBS said the company is “undergoing a number of strategic changes that build on the current proposition”, and that it would notify customers of any developments in its services. Photographer: Aidan Crawley/Bloomberg

AIB-owned unit is undertaking a strategic review

It is expected that the State’s holding in Bank of Ireland will fall to zero by the middle of this year. Photograph: iStock

Taxpayers eclipsed as largest holder for first time since financial crisis

Other changes under Further Global include shutting down of the AA Roadwatch service which provided traffic reports and bulletins to Irish radio broadcasters. File photograph: Cyril Byrne

Deal carried out at the level of a holding company above AA Ireland, called Erbium

AIB said the higher negative rate of 0.75 per cent would take effect from the end of March. File photograph: The Irish Times

Bank’s move to affect customers with over €1m in savings from May

Confidence levels among Irish CEOs about the domestic economy are very high,  with 91%  of local respondents saying they are of the view that it will improve this year

Some 77% of CEOs predict the global economy will improve this year, with only 15% expecting it to get worse

Ninety-four per cent of Irish construction companies foresee a further ‘significant’ increase in raw material hikes this year. Photograph: iStock

Some 83% endured a rise in labour costs last year and most expect trend to continue

Patrick and John Collison are joint second on the Oxfam list of Irish billionaires

Charity calls for special tax on ‘extreme wealth’ to help fund recovery from pandemic

DBRS has a  ‘stable’ trend on the new rating. Image: iStock

Agency says State is well positioned against threats

Many analysts see  a chance that Covid will be endemic by the time the Omicron wave subsides. Photograph: iStock

Market Beat: Policy-makers face difficult choices as they track the path of the virus

Robert Mulhall has spent more than 25 years with AIB since first joining the bank in 1995. Photograph: Alan Betson

Robert Mulhall set to move into banking technology space after leaving AIB

The Central Bank will apply its advertising rules to crowdfunding service providers. Photograph: iStock

Central Bank launches regime to bring sector within its regulatory grasp

The sale means the NTMA has completed more than a third of its minimum full-year funding target less than two weeks into 2022.  Photograph: iStock

Strong demand from diverse investors for bonds, with order book exceeding €27bn

Market heavyweight CRH moved 0.8 per cent higher to €47.03, while Kingspan jumped 2.6 per cent to €98.76, with both aided by favourable comment from analysts at Bank of America

Markets report: Cairn soars 7.2 per cent on pledge to return €95m to investors this year

The NTMA has typically been among the first government debt agencies in Europe to hit the bond markets in early January over the past decade. Photograph: iStock

Transaction expected to be launched on Thursday

Grafton Group chief executive Gavin Slark. Photograph: DAVE MEEHAN

Owner of Woodies DIY now expects to post an operating profit of £276.3m

The gap between approvals and drawdowns reflects the dearth of housing supply in the market. Photograph: iStock

Value of loans rises marginally despite drop in number of approvals

Toronto-based Slate Office Reit agreed in November to buy Yew Grove for €127.8 million. Photograph: iStock

Charles Peach to join Slate Office Reit as chief financial officer on completion of takeover

The last time world leaders congregated in the Swiss Alpine town of Davos was for the WEF’s 50th meeting in January 2020, before Covid-19 spread across the world.

WEF defers Davos gathering planned for this month until summer

 Askaboutmoney finance website’s Brendan Burgess has highlighted that while Ulster Bank offers the same mortgage rates to new and existing customers, PTSB uses lower rates to attract new customers.  Photograph: David Sleator

Consumer advocate warns Ulster Bank customers may become ‘prisoners’ of PTSB

HPI’s revenues, mainly from carrying out finance checks on cars, trucks and other types of assets for prospective buyers and their financiers, dipped 3% to €1.72m in 2020. File photograph: Getty

Sale comes amid planned liquidation of HPI-linked Irish Credit Bureau

Stock investors bet retreat of Ulster Bank and KBC will give surviving banks a fighting chance

A woman and a dog pass an Ulster Bank branch in Raheny, Dublin. The withdrawal of Ulster Bank from the Irish market would be a “major hammer blow” to customers and workers, the Dail has heard. Picture date: Thursday February 18, 2021. PA Photo. See PA story IRISH UlsterBank. Photo credit should read: Brian Lawless/PA Wire

Apple soared and Zoom slumped in a year that saw markets surge to record levels

Jonathan Kelly: he  took over as managing partner in September last year, succeeding Philip Lee, who had set up the eponymous law firm in 1993. Photograph: Paul Sherwood

Jonathan Kelly predicts another strong year for M&A activity in the Republic next year

Ryanair lost 1.7 per cent to €15.43. Photograph: Adrian Dennis/AFP

Iseq All-Share Index rises 0.9% to 8,444.96 to reach highest level in more than six weeks

The MSCI All Country World Index, a gauge of global equities, is on track to have risen by almost 18 per cent in 2021. Photograph: iStock

Stockbroking firm sees equities delivering average 6.5% return per annum over five years

United Oil & Gas chief executive Brian Larkin: established  the company in 2015.

CEO Brian Larkin says firm has ‘outstanding results’ with drilling campaign’

Gene Murtagh, CEO of Kingspan. The company is forecasting a trading profit of €750m this year. Photograph: Alan Betson

Uniphar’s gross profit surges 31% in the first half of the year

Including Yew Grove’s €49.5m of borrowings, the Slate Office takeover plan implies an overall enterprise value of €177.4m on the Dublin-listed company. Photograph: iStock

A number of resolutions at egm on proposed deal passed by majority of about 90%

Ulster Bank’s parent NatWest Group agreed last week to sell €6.8 billion of the Irish unit’s mortgages and business loans to PTSB. Photograph: Alan Betson/The Irish Times

Transformational deal would increase PTSB’s loan book by almost 50%

While only 25% of defined benefit scheme assets are held in equity funds, according to Pensions Authority annual statistics, another 25% are held in other growth assets.

Global shares have risen by 22% so far this year

Paul Coulson’s Ardagh Group and a Canadian teachers’ fund plan to put their food and speciality metal cans joint venture on the market next year

Citigroup and Evercore hired to manage disposal of Trivium Packaging

Frank O’Connor will take up the position of NTMA chief executive on July 1st. Photograph: Dara Mac Dónaill

Incoming chief is agency’s head of funding and debt management

Minister for Finance Paschal Donohoe opened up a new front to accelerate a recovery of AIB’s crisis-era bailout bill on Tuesday.  Photograph: Nick Bradshaw

Analysts estimate State’s stake could fall to as low as 68% by middle of 2022

Anne Heraty of CPL: The company is “in a very strong position at the moment”, as demand is strong for staff across various sectors of the economy.   

Longford woman co-founded recruitment firm bought by Outsourcing

Goodbody Stockbrokers was acquired by AIB in September

New hires will see stockbroker taking advantage of rival Davy’s exit from the business

The NTMA’s board initiated a process in June to find a successor to Conor O’Kelly, the current chief executive of the agency, as he prepares to step down next year

Decision expected imminently on successor to Conor O’Kelly

Savings across the credit union sector rose by 2.8 per cent in the 12 months to €16.8 billion, the Central Bank said last week. Photograph: Colin Keegan, Collins Dublin

Submission proposes that the sector be able to lend in groups on larger transactions

It has been reported that McCourt, who was awarded the contract for the €2.9-billion State-funded national broadband plan, invested just €116,564 of equity into the project. Photograph: iStock

Seen & Heard: US businessman David McCourt owns under 3% of National Broadband Ireland

Kerry-based Fexco said that it was rebuilding its retail foreign-exchange operations in the UK. Photograph: iStock

Financial services company said it returned operating profit in fourth quarter this year

PTSB has also beefed up its reserves this year by continuing a trend of offloading loans that require heavy levels of capital. Photograph: Alan Betson

Irish lender needs €400m of fresh capital to support its purchase of Ulster Bank loans

Sean Corkery, chief executive at Datalex. Photograph: Dara Mac Dónaill

Sean Corkery jumped at the chance to lead the aviation software firm out of trouble

An Ulster Bank branch in Raheny, Dublin: PTSB deal includes 25 of Ulster Bank’s 88 branches in the Republic. Photograph: Brian Lawless/PA Wire

PTSB to acquire about €6.8bn of mortgages and business loans from exiting Ulster Bank

JP Morgan’s senior country officer for Ireland, Carin Bryans, who will retire early next year after more than three decades with the US banking giant.

Bryans will be succeeded by Marc Hussey, who is returning to the company

Average car premiums fell by  16% between late 2017 and the end of 2020, following a 62% surge over the previous five years.

Number of challenges to laws underpinning award guidelines have been launched

The average credit union had just €27.50 out on loan for every €100 of assets as of September.

‘Credit unions remains heavily dependent on unsecured personal lending’

Banking stocks were also out of sorts, with AIB down 1.5 per cent at €2.12, while Bank of Ireland lost 1.4 per cent to €4.85.

Cautious approach spurred by impending policy decisions by central banks

The authors of the technical research paper estimate that the rate of SMEs under financial distress will fall to 7 per cent by 2024. Photograph: iStock

It is estimated that 12% of small businesses ended last year in financial distress

Covid bad loan provisions and the cost of payment breaks pushed First Citizen Finance to a net loss of €3.67 million last year.

Rival Dilosk sees consildated loans more than double to €566m, new figures show

CRH chief executive Albert Manifold has hired advisers to find suitors for its North American glass building products unit, Oldcastle Building Envelope. Photograph: Cyril Byrne

Joe Brennan: Shares in the company are up almost 70% in two years

HealthBeacon plans to raise €25 million in an initial public offering (IPO) before floating on Euronext Dublin’s junior market. Photograph: Istock

Medical technology company to be valued at €98 million as it floats next Wednesday

Larry Goodman  has become chairman of the supervisory board over the family’s ABP Food Group and Parma investments arm. Photograph: Eamonn Farrell/ Photocall Ireland

Move puts order over the long-term direction of the Goodman family’s interests

The Dublin-listed travel retail software group has been restructured. Photograph: iStock

Dan Creedon replaces Niall O’Sullivan, who is joining Blackrock Healthcare Group

Kerry Group chief executive Edmond Scanlon snapped up over €1.1 million of shares in the nutrition giant. Photograph: Alan Betson

First purchase in market by nutrition group boss after four years at the helm

Permitting access to “unsustainable” amounts of credit to buy homes will not deliver a much-needed supply of new property, Central Bank deputy governor Sharon Donnery said.  Photograph: Darren Staples/Reuters

Almost 20,000 mortgages still more than a year in arrears according to Central bank data

The NTMA plans to reduce borrowing in international bond markets by up to 46 per cent next year

Reduced borrowing plan for 2022 reflects State’s improving fiscal position

Blackrock Hospital Ltd, whose main subsidiary is Blackrock Clinic, revealed that its pre-tax profit dropped 39 per cent last year to €6.4 million. Photograph: Cyril Byrne

Companies behind Blackrock, Hermitage and Galway clinics saw profits drop in 2020

The Synch project hit a stumbling block in January after the CCPC pushed back the banks’ application to establish a joint venture. Image: iStock

CCPC to open full investigation into Synch Payments

Ulster Bank chief executive Jane Howard said it is unlikely that the lender will reach a deal on its NPL portfolio until ‘after 2022’. Photograph: Dara Mac Dónaill

Almost 300 Ulster Bank staff have left the exiting lender this year

Revolut: The financial market supervision committee of the Bank of Lithuania granted it a MiFID licence last week.

UK fintech looks to Lithuania as base for providing investment services across EEA

Albert Manifold, CRH’s chief executive, has been as focused since taking charge 2014 on offloading unwanted and underperforming assets as he has been on continuing the group’s history of growth by acquisition.

Reports say building materials group is preparing to sell its North American glass unit

Numis has been competing with Dublin’s Davy and Goodbody Stockbrokers in recent years in the area of corporate brokerships of Irish companies with UK listings. Photograph: iStock

Garret Ward will join Numis in new year; Goodbody likely to name replacement soon

Slate Office’s bid values Euronext Dublin-listed Yew Grove at €177 million. Photograph: iStock

Property investor had signalled possible counter-offer

Banana pricing in Europe and volumes in North America hit sales at Dole’s largest division, Dole Fresh Fruit. Photograph: Aidan Crawley/Bloomberg

Transport and labour costs exacerbated by weak international market for fresh veg

AIB has been the most active of the three remaining banks in the Irish market in 2021 in offloading non-performing loans as the sector prepares for a belated spike in defaults next year as a result of the Covid-19 crisis.

Portfolio likely to be marketed in first half of 2022

The market is bracing itself for a deluge of hundreds of thousands of personal and business account-holders searching for new homes for their money. Photograph: Alan Betson

Close to a million personal accounts affected by withdrawal

The fine imposed on Bank of Ireland  is the second highest ever levied by the Central Bank.

Central Bank said IT service continuity provision was inadequate

Trevor Grant: ‘I think it’s likely there will be a couple of more non-bank entrants into the market [in the next year].’

Share of mortgage drawdowns from broker channel has grown to 40.7%, AIMA says

A Wirecard office in Germany.  Liquidators were appointed to the Irish unit in October last year, four months after Munich-based Wirecard filed for insolvency. Photograph: iStock

Liquidators have completed two reports on Dublin firm’s collapse

HealthBeacon has developed a solution that helps patients better adhere to injectable medications schedules. Photograph: iStock

Bill McCabe’s firm is medtech player’s largest shareholder with 17% stake worth €12.8m

Major life events that prompt household formation are occurring later in life and this is driving the ageing of home buyers, the BPFI report said. Photograph: Chris Ratcliffe/Bloomberg

Borrowers aged 35 and over account for greatest share of drawdowns, BPFI report shows

David Duffy’s basic salary was unchanged at £1.02 million. Photograph: Chris J Ratcliffe/Bloomberg

UK lender moved back into profit and confirmed return to dividends

 ICG said group revenue rose 22 per cent in  the first 10 months of the year. Photograph: iStock

Irish Ferries owner has prioritised route between England and France

The audit related to the 2016 accounts of National Asset Management DAC (NAM), a key special-purpose vehicle used by Nama. Photograph: Cyril Byrne

Tuohy is third person fined by regulator since it took direct audit responsibility in 2016

Minister for Finance Paschal Donohoe on Tuesday unveiled the terms of reference of a wide-ranging review of the banking sector, which will take 12 months to complete. Photograph: Laura Hutton

Focus on developing mortgage market and how competition feeds setting of interest rates

Digital therapeutics company HealthBeacon  plans to raise €25 million in an initial public offering (IPO) before floating on Euronext Dublin’s junior market

Dublin-based medical technology company aims to raise €25 million in IPO

CRH chief executive Albert Manifold said the company ‘continues to perform well with good underlying demand and pricing progress across our key markets’. Photograph: Cyril Byrne

Irish company’s margin widened in first nine months of 2021 to 17.1%

AIB chief executive Colin Hunt announced last December that the bank was retrenching from the British SME market. Photograph: Nick Bradshaw

Chief executive Colin Hunt announced last December the bank was retrenching from British SME market

AIB has selected fledgling UK small-business challenger bank Allica Bank as preferred bidder for its British SME business loan book.

Bank’s exit from market segment will save it an estimated €35m in coming years

Yew Grove focuses on office assets outside the capital’s central business district, and industrial units. Photograph: iStock

Market Beat: Government policy has made life increasingly difficult for reits

Metal cans are the most recycled drinks package in the world. Photograph: iStock

New York-listed group investing $200m in facility near Belfast

PTSB: “We are seeking a review of one decision which the Financial Services and Pensions Ombudsman made recently in respect of a complaint about a tracker mortgage issue.”  Photograph: Alan Betson

Industry observers speculate outcome may set precedent for wider group of borrowers

Tom Hayes: ‘The deep relationships he had with his colleagues and customers mean his loss will be felt widely.’

Wexford native and bank veteran was member of group executive committee

The planned wage demand comes as the three remaining retail banks in the State, in which taxpayers hold sizeable stakes, are seeking to rein in costs to build their profit returns to levels that are acceptable to investors. Photograph: iStock

FSU wants ‘the proceeds of success to be shared’

The State’s holding in Bank of Ireland was 8.99%  as of Tuesday, down from 10.96%  on October 22nd. Photograph: iStock

Bank’s return to private ownership is accelerating

Kevin Nowlan, chief executive of Hibernia Reit. Photograph: Tom Honan

Property group chief foresees ‘winners and losers’ in office sector post-Covid

The current deadline for completion of the capital raise and formal takeover offer to be submitted is November 29th

Slate Office Reit will sell shares and subordinated debt to buy Irish property company

Quebec-based Hart Print is the first company to offer digital printed cans in the north American market.

Hart Print enables companies to imprint colourful artwork on aluminium cans

Valerie Moran and Noel Moran of Prepaid Financial Services, which was acquired by EML. File photograph: Alan Betson/The Irish Times

Irish Central Bank concerned over how issues will be resolved at Irish-founded Prepaid Financial Services

Bank of Ireland has hired Goodbody Stockbrokers analyst Eamonn Hughes to become its chief sustainability and investor relations officer.

Chartered accountant has been researching environment, social and governance issues

The remains of the former chairman of Anglo Irish Bank, Sean Fitzpatrick, arrive at the Holy Rosary Church in Greystones, for his funeral mass. Photograph: Nick Bradshaw

‘Dad had a lot of professional highs and lows in his life’

Glenveagh Properties chief executive Stephen Garvey. Photograph: Nick Bradshaw for The Irish Times

Repurchase programme follows on from the group having completed its first share buyback scheme last month

On completion of the planned deal, 17% of State Office Reit’s net operating income will come from the Republic. File photograph: Getty

Irish office and industrial assets company floated on the Irish market in 2018

The RSA Insurance Group company headquarters in London. Photograph: Simon Dawson/Bloomberg

Dundrum-based company, led by Kevin Thompson, recorded €12.6m loss in 2020

Last year the frequency of motor injury and damages claims declined by 26 per cent due to the impact of Covid-19 lockdown restrictions on traffic levels. Photograph: iStock

Lockdown lifts motor insurers to highest profitability since at least 2009

Malin, the Irish life sciences investment company, recently sold its 65 per cent stake in injectable drugs company Altan for €68 million

Pentwater Capital’s overall interest up from 27.6 per cent so far this year to 28.6 per cent

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