Posts By: admin

IBRC ballot may hurt liquidators’ sell-off plan

STAFF at IBRC have begun balloting for possible industrial action that could hurt liquidators’ multi-billion euro sell-off of the bank’s property loans. The strike comes after the breakdown of long-running efforts to resolve a dispute over redundancy terms for around 400 remaining staff at the bank, according to Irish Bank Officials Association (IBOA) boss Larry… Read more »

Bank of Ireland pays directors €2.77m in salaries and fees

BANK of Ireland paid its directors €2.77m in total last year, made up of salaries, fees, car and pension contributions. Richie Boucher’s total pay package of €843,000 is unchanged from 2012, according to the bank’s annual report published yesterday. The bank chief executive’s basic pay of €690,000 was topped up by pension contributions worth €186,000… Read more »

Government plans €1bn bond deal, the first since bailout

The Government is planning to borrow €1bn on the bond market on Thursday. The deal will be the first time the country has borrowed at an auction since the end of the EU/IMF bailout in December. In September the National Treasury Management Agency (NTMA), which manages the national debt, decided to hold off on new… Read more »

Rise of new orders for ‘battered’ Irish construction sector indicates recovery

The battered Irish construction sector has shown further signs of recovery with the number of new orders picking up pace last month, research has indicated. The overall workforce also increased in February as companies expressed optimism about the year ahead, according to the Ulster Bank Construction Purchasing Managers Index (PMI). The seasonally adjusted index, which… Read more »

Bank of Ireland outsources 200 posts

BANK of Ireland is to cut 200 technology jobs in Dublin following an outsourcing deal with Accenture, the Irish Independent has learned. Staff were briefed on the bank’s decision to award the contract for work currently done by its Group Technology and Change (GTaC) division to the outside firm yesterday. People whose jobs are affected… Read more »

IMF calls for ECB rate cut, more easing

The European Central Bank should cut interest rates and either inject more liquidity into the banking system via its Long-Term Refinancing Operations (LTRO) or start public and private asset purchases, International Monetary Fund officials said. The ECB is due to hold a meeting on monetary policy later today. Consumer inflation, which the bank wants to… Read more »