Snow rests on a sign outside the headquarters of AIB bank in south Dublin.

Bank’s shares surged last week after the lender issued a positive trading update

The hearings into practices at Irish Nationwide will continue into next year. Photograph: Alan Betson

Ex-chief executive denies he is accountable for any of seven alleged ‘suspected prescribed contraventions’

Mary O’Dea

O’Dea to succeed Feeney as chief executive of Institute of Banking

AIB has set aside as much as €190 million in recent years to deal with refunds compensation and legal and professional costs linked to cases where customers were either wrongly denied a cheap mortgage linked to the European Central Bank rate, or put on the wrong rate. Photograph: Cathal McNaughton/Reuters

AIB’s level of bad loans fell by €500 million to €7.3 billion during the quarter

The International Financial Services Centre in Dublin’s docklands. Kroll wants its new Irish office to help companies here secure access to capital markets. Photograph: Bryan O’Brien / The Irish Times

Kroll to create more than 100 jobs here over next three years as it develops European operation

 Professor Philip Lane, Governor of the Central Bank at Leinster House. Photograph: Cyril Byrne

Meanwhile, speculation over Bitcoin rumbles on amid 1,400% surge in space of a year

Bank of Ireland chief executive Francesca McDonagh has set the establishment of a “customer-centric culture” as a top priority since taking charge in October

CEO sets out to change culture as nearly 50% of staff say they are not proud of bank

Euronext chief executive Stéphane Boujnah and Irish Stock Exchange chief executive Deirdre Somers at the announcement of Euronext’s acquisition of the exchange. Photograph: Maxwell

UK vote to leave EU persuaded Dublin bourse operator to seek strategic partner

Irish Stock Exchange chief executive Deirdre Somers attending a news conference in Dublin on Thursday. Photograph: Patrick Bolger/Bloomberg

Amsterdam-based group targets €6m of annual cost savings by end of 2020

New Bank of Ireland CEO Francesca McDonagh had to grapple with Bank of Ireland’s exposure to an industry-wide tracker mortgage crisis in her first weeks in office.

Francesca McDonagh succeeded Richie Boucher at start of October

The Irish Stock Exchange has been in business since 1793. Photograph: Dara Mac Dónaill

Deal allows both sides to position themselves for Brexit opportunities

Audi has already introduced self-driving technology on its new A8, but the law needs to be changed to permit its use on public roads

Incoming autonomous vehicles raise major questions for the insurance sector

House prices are rising at an annual rate of almost 13%.

Regulator opts for status quo and moves to retain most rules

The Central Bank has consistently argued that there is no sign of a lending bubble. Photograph: iStock

Who benefits, the first or second-time buyer? All your mortgage questions answered

The Central Bank has retained most elements of its mortgage-cap rules, though it tweaked a measure to restrict the amount to which second-time buyers can breach a key loan-to-income cap. Photograph: Niall Carson/PA Wire

Governor Philip Lane opts to retain main elements of mortgage-cap rules

Bank of Ireland had a CET1 ratio, which fully reflects incoming capital rules, of 12.5 per cent at the end of September

Move is likely to ‘bulletproof’ the group’s plans to return to paying dividends next year

Greencore  chief executive Patrick Coveney: a decision to halt the implementation of an enterprise risk management (ERM) software platform across the firm’s UK operations has cost £29.7 million.   Photograph: Eric Luke/The Irish Times

Food group’s pretax profits fell after company took on £78m in exceptional charges

Stockmarket

US markets at all-time high but correction may yet kick in

Accounts filed for Burlington Loan Management show its Irish assets fell to 5 per cent of the total portfolio in 2016 from 7 per cent a year earlier. Photograph: iStockPhoto

Assets drop to $6.93bn at Dublin-based firm set up by Davidson Kempner

At the end of December 2016, 27.8 per cent of the Lloyds Irish loans were in negative equity. Photograph: Andrew Matthews/PA Wire

UK banking group set to launch sale of €5 billion portfolio as early as February

The New Ireland Fund is  an actively-managed portfolio of up to 25 stocks run by Kleinwort Benson Investors in Dublin

New Ireland Fund seeking to raise additional funds by offering one share for every three held

Some details from the document spread by word of mouth in the bank, according to sources

Firm confirms data breach that included pay and benefits information of 110 employees

Ratings agency Fitch raised its rating for Bank of Ireland by one level to BBB. Photograph: Frantzesco Kangaris/Bloomberg

Fitch has a ‘stable’ outlook on Bank of Ireland’s ratings and a ‘positive’ one on AIB

Brian Moran, senior managing director of Hines Ireland, with Declan O’Reilly, director of office agency at Knight Frank with a scale model of the former Central Bank building.

Project has office, retail, restaurant and leisure space

Irish Life chief executive David Harney. Allianz agreed in February to pay €145 million for Irish Life’s 30.4 per cent stake in Allianz Irish Life Holdings. Photograph: Brenda Fitzsimons

Insurer’s net profit rose to €138.9 million last year from €80.2 million in 2015

Lloyds had £4.5 billion (€5.1 billion) of Irish retail loans as of the end of 2016, according to stock exchange filings. Photograph: Andrew Matthews/PA Wire

London-based bank racked up €12.3bn losses on Irish loans between 2008 and 2011

Permanent TSB on Grafton Street. Photograph: Alan Betson

Shares rating downgraded over nonperforming loans and ‘regulatory headwinds’

Jurys Inn was originally set up as part of the old Jurys Doyle stock-market listed company. Photograph: Alan Betson

Hotel chain is set to change hands for the second time in three years

CRH’s turnover in Asia dropped 9 per cent in the first nine months of the year, mainly reflecting the Philippines market, which has been flooded by cheap cement imports. Photograph: Brenda Fitzsimons

Building materials giant reports 2 per cent sales growth in first nine months of year

ECB president Mario Draghi. ECB purchases of Irish bonds plunged 45 per cent in January as the headroom began to narrow as a result of previous purchases. Photograph: Stephanie Lecocq/EPA

‘More ambitious’ bond sales schedule would mitigate concerns, ECB president says

Fiona Muldoon, chief executive FBD. Photograph: Cyril Byrne

Fiona Muldoon says new products will address needs of FBD commercial customers

EU Brexit negotiator Michel Barnier: “The single market is a package of four indivisible freedoms, common rules, institutions and enforcement structure.” Photograph: John Thys/AFP/Getty Images

Those calling for cherry-picking part of single market should desist, Michel Barnier says

Brookfield Renewable told investors in an update last week that its 2014 Irish deal was funded by way of $390 million in debt and $350 million in equity

Brookfield Renewable bought Bord Gáis’s 700mw wind-farm portfolio in 2014 for $740m

Founded in 1999, Ultimate Security employs over 2,100 security officers across 240 locations, including The Shard tower in London.

Irish group was acquired by South Africa’s BidVest in early September for €175m

The average Irish adult’s wealth increased by 7.8% to $248,466 (€210,716), amid rising house prices and financial investments, according to Credit Suisse data. Photograph: Getty Images

Credit Suisse says average wealth figure for Irish adults 15th among over 200 countries

The arrears support unit of KBC Bank Ireland in Dublin. Photograph: Bryan O’Brien

Irish banks can minimise tax payments for year as a result of billions lost during crisis

Despite fact impact already being felt in NI, SMEs in the Republic are more pessimistic

Although Aviva’s €40 million-plus deal in 2009 to secure the naming rights to the Lansdowne Road stadium seemed ill-judged at the height of the insurer’s woes in Ireland, the unit has good reason now to trigger an option by the end of 2018 to extend the deal by a further five years. Photograph: James Crombie /Inpho

Aviva increases share of life insurance market to 15% after purchase of Friends First

The Square opened in 1990, and its anchor tenants include Dunnes Stores, Tesco and Debenhams.   Photograph: Peter Moloney

Final bids for 27-year-old shopping mall were lodged this week

Hurricanes held back earnings growth at Denis O’Brien’s telecoms carrier Digicel. Photograph: Swoan Parker/Reuters

Revenue falls 3% at Denis O’Brien firm, which plans to cut a quarter of its staff

Taxable income: Revenue now shares data with more than 100 tax authorities internationally

Evaders who missed deadline will face ‘substantially higher penalties’

Social Democrat TDs Catherine Murphy and Róisín Shortall. Photograph: Eric Luke

Move follows stand-off over Social Democrats co-leader’s refusal to reveal sources

Germany’s Social Democratic Party is pressing for the German parliament, the Bundestag (above), to block Ireland’s plans for an early repayment of bailout loans totalling €5.5 billion. Photograph: Hannibal Hanschke/Reuters

Social Democratic Party pushing for Bundestag to block Ireland’s early repayment plan on loans worth €5.5 billion

Simon Coveney: “We have achieved good progress in a number of these areas, but there is still considerable work to do. And that is particularly the case for the Border.” Photograph: Dara Mac Dónaill

‘Considerable work to do on Border’ emphasised ahead of Boris Johnson meeting

Moody’s said Bank of Ireland’s provision of a further €150 million to €175 million to cover refunds, compensation and other costs relating to the overcharging of mortgage customers will wipe out 70 per cent of its fourth-quarter pretax profit.

Five main banks have so far signalled scandal will cost up to €800 million to resolve

KBC Bank Ireland disclosed last month that as many as 1,661 of it is customers may have been affected by overcharging

Bank recently disclosed that up to 1,661 customers may be affected by overcharging

London skyline: Investment banks including Barclays, Bank of America Merrill Lynch and Citigroup revealed during the summer that they plan to expand their Irish operations as they prepare for the UK to quit the EU in March 2019. Photograph: Chris Radburn/PA

UK Finance calls for ‘ambitious’ free-trade accord to preserve cross-border services

Shares in Airbus rose 2.4 per cent after the aircraft maker received an historic order for 430 A320 jets in a deal up to $50 billion (€42.2 billion)

Market report: Fall in commodity stocks but Airbus rallies on back of record deal

The Central Bank sold the bonds  to the NTMA, which immediately cancelled them.  Photograph: Frank Miller

Bonds stem from complex restructuring of failed bank’s bailout during financial crisis

The planned closures will lead to 40 redundancies. Photograph: Nick Bradshaw

Move follows decision to close 22 branches in Republic this year

CRH chief executive Albert Manifold: “This development positions Belgard Castle at the centre of the group.” Photograph: Cyril Byrne

Building materials group plans to apply for permission to build 5,500sq m centre

The Danish bank is the last among 15 current and former mortgage lenders in the Irish market to indicate how many of its customers were affected

Irish mortgage lenders have so far acknowledged up to 27,527 cases of overcharging

Central Bank deputy governor Ed Sibley:  expects “all the main banks to be subject to Central Bank enforcement investigations” over the  tracker-mortgage scandal

AIB alone among Ireland’s five main mortgage lenders not currently under investigation

Donal Murphy succeeded long-time chief executive Tommy Breen earlier this year

Total spend on deals in the current financial year will amount to £550 million

Friends First, which traces its roots in Ireland back to 1834, came under the total control of Achema, formerly known as Eureko, 15 years ago.

Aviva Ireland will have 15% shares of Irish life and general insurance markets following deal

Business Growth Fund chief executive Stephen Welton and Leo Casey, head of BGF in the Republic, at the launch in Dublin of a €250 million fund for Irish SMEs.

State, AIB and Bank of Ireland among key backers of Business Growth Fund initiative

CRH’s move comes less than a month after the building materials giant’s $3.5bn (€3bn) offer for Kansas-based Ash Grove Cement was accepted by shareholders in the US company

Irish group vying with LafargeHolcim and Fairfax Financial for PPC

Deutsche Bank analysts David Lock and Rohan Singhai said their “overall impression” was that all the Irish banks want to resolve the tracker scandal as quickly as possible. Photograph: Krisztian Bocsi/Bloomberg

Tracker controversy a ‘reputational/PR issue for the banks’, German bank says

Minutes from a meeting of the Central Bank commission on September 29th show Central Bank officials were concerned insurers were trailing behind banks in getting ready for the UK’s exit from the EU.

Central Bank warned of possible transfer scenario in letter from Insurance Ireland

Irish Stock Exchange chief executive Deirdre Somers: “Being bought is not a strategy.” Photograph: Alan Betson

Dublin exchange could be defensive bet for London exchange in context of UK’s EU exit

Financial Services Union general secretary Larry Broderick has ruled out joining corporate boards after he retires next year. Photograph: Tommy Clancy

Union head calls for State to maintain bonus cap on bank executives’ salaries

The Irish Life building on Abbey Street in Dublin: Company has more than 1.3 million customers and profits rose 17% in third quarter.

Group reports 17% increase in profits as health insurance customers rise

Tom Kenny, who has joined Dublin-based financial services software company Corlytics as its chief financial officer.

Former managing director of Canada Life International Assurance joins fintech firm

Merlyn Industries designs and makes shower enclosures. Photograph: iStock

Merlyn made £5 million net profit for the year to March on sales of £30.7m

Margaret Sweeney’s appointment comes as the company’s founding chief executive David Ehrlich resigned to take up the role of president and chief executive of Capreit, the firm that set up Ires in 2014.  Photograph: Dara Mac Donaill

Former head of airport operator DAA and Postbank Ireland will lead Ires Reit

The Central Bank has written to all insurance companies requesting they file details of the potential impact of Brexit on their operation. Photograph: Alan Betson/The Irish Times

Central Bank has written to insurance companies requesting details on consequences of Brexit

Glanbia: the company said it remains on target to deliver earnings-per-share growth of 7 to 10 per cent this year

Revenue from wholly owned divisions rose 6.6% in first nine months of 2017

Smurfit Kappa: total corrugated-cardboard volumes across the group grew by 3 per cent in the third quarter of 2017

Box maker unveils Russian and Greek deals for combined price of about €70 million

Only 286 unions were classified as actively trading, with the largest 50 accounting for more than half of the movement’s €15.9 billion of assets at the end of last year.  Photograph:  Colin Keegan, Collins Dublin

Concerns signalled earlier this year about unions becoming involved in mortgage market

The Central Bank holds originating lenders liable for issues in mortgages that have been sold on. Photograph: Getty Images

Bank’s plans for redressing customers believed to be with Central Bank for review

While Hypo Real Estate agreed to sell Depfa as part of a restructuring plan under its own bailout during the financial crisis, the German government scrapped the sale in 2014, and transferred the business to a state-owned bad bank FMS Wertmanagement (FMS-WM). Photograph: Getty Images

Depfa executives and FMS-WM believe sale of licensed Irish bank could play into Brexit shakeout

MiFID II, which becomes effective in January, will force brokers in the EU to charge clients separately for investment research rather than bundling the cost with trading services. Photograph: Getty Images

Stockbroking and investment firm intends to be ‘a driver’ of industry consolidation

Web Summit CEO Paddy Cosgrave moved the event from Dublin to Lisbon last year. Photograph: Patricia De Melo Moreira/AFP/Getty Images

Student half-day tickets priced €7.50 allegedly being resold for more than €1,000 each

Bank of Ireland chief executive Francesca McDonagh, who is expected to carry out review of bank’s Project Omega programme.

Market Beat: Projects to replace legacy IT systems in banks are notoriously difficult

The company logo for RSA Insurance Group Plc. Photographer: Simon Dawson/Bloomberg

Insurer making ‘significant progress’ in returning to sustainable profitability

Bank of Ireland hired a Swiss software company last year to replace its  banking system, under a programme estimated to cost €900m

Sources say it is anticipated the jobs will be shed by the end of 2019

Ulster Bank’s total income came to £150m  for the most recent quarter, comprising £104m of net interest income and £46m of other income. Photograph: Nick Bradshaw

Falling level of problem loans sees bank release £21m in provisions

Bank of Ireland chief executive Francesca McDonagh leaves the Department of Finance after being called to it over tracker mortgage issues. Photograph: Leah Farrell/RollingNews.ie

Francesca McDonagh ‘personally’ committed as lenders scramble to made redress

Francesca McDonagh  leaving the Department of Finance earlier this week after being called to the Department of Finance over the tracker mortgage issues. Photograph:  Leah Farrell/ RollingNews.ie

Group sticks to dividend plans as any increase to tracker crisis costs ‘manageable’

Ardagh executive chairman Paul Coulson, the largest shareholder in the metal and glass group. Photograph: Alan Betson

Metal and glass containers group’s revenue and earnings dip 1% in third quarter

The Bank of Ireland headquarters in Dublin.

Level of impaired loans fell by €400 million to €5 billion in third quarter

John McGuinness says the tracker mortgage situation needs outside focus. Photograph: Dara Mac Dónaill

John McGuinness says Central Bank is not fit for purpose and calls on ECB to intervene

President Mario Draghi. Photograph: Reuters/Francois Lenoir

Mario Draghi expected to make statement on scaling back of quantitative easing

Minister for Finance Paschal Donohoe has threatened to become an activist shareholder in the three banks in which the State holds shares – AIB, Bank of Ireland and Permanent TSB – if sufficient progress is not made in the weeks ahead. Photograph:  Niall Carson/PA

Central Bank to consider more protection as some lenders delay compensation

Francesca McDonagh, the new Bank of Ireland chief executive, arriving at the Department of Finance for talks over the tracker mortgage issue.

Apologies issued as pressure mounts to deal with issue

KBC also said it anticipates that up to an addition 200 to 600 borrowers may be impacted.

State’s top five mortgage lenders issue updates after political pressure

Danske Bank has not indicated how many loans were included in the mortgage portfolio sale.  Photograph: Eric Luke

Pimco believed to be involved with Goldman Sachs on €1.8 billion Danske portfolio deal

L-R: Permanent TSB chief executive Jeremy Masding, incoming Bank of Ireland chief executive Francesca McDonagh and KBC chief executive Wim VerBraeken. Photograph: Collins and Rollingnews.ie

Central Bank governor thinks ‘vast majority’ of 13,000 cases will be paid before Christmas

 Paschal Donohoe: the Minister said  €1.5bn from ISIF’s estimated €8.5bn total pot will be allocated for the establishment of the State’s planned rainy day fund. Photograph: RollingNews.ie

Investment expected to result in €250 million being pledged to Irish software firms

Bank of Ireland chief executive Francesca McDonagh: “We are treating this matter very seriously and we’ll be making a statement in due course.”

Minister for Finance holds meetings with three lenders involved in mortgage scandal

Paschal Donohoe: the Minister for Finance says he will deal with some banks as a shareholder, suggesting he might have more leverage with these. Photograph: Clodagh Kilcoyne/Reuters

Government demands clear timetable to compensate victims of overcharging

Permanent TSB chief executive Jeremy Masding arrives at the Department of Finance on Monday for a meeting with Minister for Finance Paschal Donohoe. Photograph: Gareth Chaney/Collins

Government unlikely to change tax rules or increase levy

Philip Lane says vast majority of confirmed cases to get refunds before Christmas

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

Tracker mortgage scandal: the Central Bank has said it continues to encounter great difficulty getting full disclosure from some banks. Photograph: Yves Herman/Reuters

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

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