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Monday 2 October 2023 Dublin: 12°C

# Banks

Last month
September 2023
McGrath working on 'very targeted' measures to help mortgage holders with sky high interest rates
A report by
Christina Finn
Plans are being worked on to rescue borrowers stuck with vulture funds charing up to 10% mortgage interest.
August 2023
McGrath tells banks and vulture funds to outline supports for mortgage holders trapped with high interest rates
McGrath says it’s ‘imperative’ the banking industry demonstrates supports for borrowers.
'They got away with it for too long': Harris won't thank bankers for upping saving interest rates
Harris said the banks are ‘laggards’ in terms of the slow pace they passed on interest rate hikes to savers.
McGrath: Irish banks 'undoubtedly' enjoying huge profits but customers can do more with savings
Michael McGrath also said he will be having further meetings with banks and non-banks in the coming weeks to discuss support for struggling mortgage holders.
Michael McGrath expects move by Irish banks to boost deposit rates
The Finance Minister said he expects Irish savers will soon receive positive news.
Harris criticises ‘guff’ over bank delays in passing interest increases on to savers
Minister Simon Harris reiterated his belief that Irish banks have been ‘laggards’ compared with European counterparts.
Opposition parties call on Govt to help households that are 'victims of profiteering banks'
Sinn Féin has called on the Government to convene a meeting with the Central Bank, and retail banks.
'I wonder have I failed my family': Readers describe their struggles with mortgage repayments
A report by
Jane Matthews
We asked readers how higher mortgage interest rates are impacting them.
Dept of Finance says govt can't do anything about banks paying low interest rates to savers
According to comparison site the best interest rate for savers in Irish banks at the moment is 2%
Permanent TSB reports pre-tax profit of €26 million for first half of 2023
The bank acquired 88,000 new mortgage and business customers from Ulster Bank.
This year
Bank of Ireland reports pre-tax profit of €1 billion in first six months of the year
The bank’s interim results show that new lending of €5.2 billion was up 20% compared to the first six months of last year.
Nigel Farage denies report that private bank closed his account for not having enough money
The BBC has rpeorted that the Brexit leader fell below the financial threshold needed to hold an account with Coutts.
New Bill aims to unlock 'treasure trove' of memorabilia held in old safe deposit boxes
Under the Bill, any items of historical interest that were unclaimed would be displayed in the National Museum of Ireland.
Poll: Are you worried about a global banking crisis?
Heavy uncertainty has gripped the banking sector since Silicon Valley Bank said it needed to raise money to stay afloat.
'The banks can't have it both ways': Varadkar says interest rates on savings should increase
The ECB increased its interest rates by 0.5% today.
Credit Suisse to borrow €50 billion from Swiss central bank after share price plunge
Credit Suisse plunged and dragged down other major European lenders in the wake of bank failures in the US.
AIB insists 'no special deals' for nearly 2,000 customers who received 90% debt write-down
The Oireachtas Finance Committee has questioned AIB on its policy on debt write-downs.
Ulster Bank increases fixed mortgage rates for second time in four months
The new rates are effective from today and will only apply to certain existing customers.
Last year
Tánaiste says there are no current plans to reintroduce mortgage interest relief
Varadkar said there are no plans currently but it’s not something the Government would rule out for the future.
AIB welcomes Donohoe's decision to sell 8% of State shares
Finance Minister Paschal Donohoe said that the State’s shareholding in AIB has been reduced from 62% to 57%.
Over 20 Ulster Bank branches to switch to Permanent TSB in January
The bank is exiting the Irish market.
Analysis: We can expect to see interest rates continue to march higher this week
Economist Victor Duggan looks ahead to the expected ECB rate hike tomorrow.
Housing minister welcomes mortgage rule change but concerns raised about house price increases
Concerns have been raised about increasing borrowing limits when supply remains low.
Ulster Bank extends first account closure deadline until 4 November
The bank announced its withdrawal from the Irish market in February.
Mortgage holders could save thousands by switching when fixed rate ends - consumer watchdog
The CCPC told the Department of Finance that it is concerned by the “impending increase” in the concentration of Ireland’s retail banking sector.
Poll: How often do you use cash/cheque services at a bank branch?
AIB said 70 of its branches will become cashless later this year.
AIB should 'reconsider' decision to make 70 branches cashless, says Taoiseach
The branches will no longer offer cash or cheque services and if they have an ATM outside, it will be removed.
Ulster Bank to sell €6 billion mortgage portfolio to AIB
Ulster Bank and KBC are both in the process of exiting the Irish market.
KBC Bank extends its account closure notice to six months
The original timeframe was 90 days.
Permanent TSB apologises after 'technical issues' meant some customers didn't get wages
The issue has since been resolved.
Revised mortgage-to-rent scheme to help more people in arrears to stay in their homes
Homeowners will have an option to purchase their home back at the price the State paid for it.
All time
Permanent TSB signs agreement to buy €7 billion of Ulster Bank mortgages and 25 branches
The bank will also acquire Business Direct and Lombard Asset Finance loan business under the deal.
EU fines major banks €344 million over foreign exchange trading cartel
Barclays, Royal Bank of Scotland, HSBC and Credit Suisse all received fines.
Number of mortgage approvals continues to grow as almost 4,700 signed off last month
This represents a significant increase on the 1,879 mortgage approvals issued in May 2020, the BPFI said.
'I'm not sure TDs were fully informed': High Court Master highlights issues with Covid legislation on vulture funds
Judge Edmund Honohon questioned why a sunset clause was not set out in the emergency legislation.
Bank of Ireland to recruit 130 specialist IT staff over next 12 months
Last month, the bank confirmed plans to close 88 branches in Ireland and 15 branches in Northern Ireland.
Pearse Doherty: KBC exit is body blow to customers and staff that will reduce competition
The Sinn Féin TD says the move leaves the future of the Irish banking sector uncertain.
Financial Services Union calling on Bank of Ireland to reconsider branch closures
Bank of Ireland is to appear before an Oireachtas Finance Committee this afternoon.
The Explainer: Banks, brokers, bonds… are back in the news. Should we be worried (again)?
In today’s episode, business reporter Ian Curran explains what’s been going on.
A new public banking system in Ireland? The Government is being asked to revisit the idea
Green Party and Fianna Fáil TDs are calling for the government to revisit the idea of community banking.