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Monday 27 March 2023 Dublin: 5°C

# Irish Life and Permanent

All time
# Central Criminal Court
Case against former Anglo chief David Drumm concludes
Drumm faces charges of alleged conspiracy to defraud Anglo depositors by inflating the Anglo deposit total by €7.2 billion in September 2008.
Budget Travel founder Gillian Bowler has died aged 64
The businesswoman also served as chairperson for Irish Life and Permanent.
# Irish Life and Permanent
Former bank director acquitted of part in €7.2 billion scheme
Peter Fitzpatrick was appearing before the Dublin Circuit Criminal Court this afternoon.
# payback time
Permanent TSB is going to give a little bit of its bailout money back
The bank wants to raise €525 million from private investors and most of that will go to the government.
# Bank Guarantee
The Department of Finance has lost letters connected to the bank guarantee
The disappearance of the original versions of two letters copied to finance minister Brian Lenihan has been uncovered by the Sinn Féin TD Pearse Doherty through Freedom of Information.
# top dog
Noonan named as Europe's Finance Minister of the Year by 'The Banker'
The Financial Times’ magazine said that Noonan was awarded the accolade because of his “extraordinary progress” since taking the job in 2011.
# Sold
Sold: Government confirms sale of Irish Life for €1.3 billion
The government has finally sold off the life and pensions arm of Irish Life and Permanent which was split from Permanent TSB after it required a €4 billion bailout in 2011.
# Seanie Fitz
The investigation of Seán FitzPatrick: a timeline of the story so far
Seán FitzPatrick has kept a low-profile in recent years but there are indications he could soon face charges in connection with alleged financial irregularities at Anglo Irish Bank. Here’s what’s been happening…
# Takeover
Government granted High Court order for €1.3bn Irish Life takeover
The court order, granted under legislation introduced by Brian Lenihan, means the recapitalisation of the banking sector is complete.
# Permanent TSB
Former Barclays banker to take over as CEO of Permanent TSB
Jeremy Masding will take up his new role in February.
# Recapitalisation
Noonan says no additional funds needed for IL&P recapitalisation
The Minister for Finance says that the €1.3 billion that will be needed to recapitalise the financial institution has already been accounted for.
# Defeated
Irish Life workers vote against industrial action
Members were balloted on possible industrial action following what UNITE said was a lack of information on a possible sell-off.
# Irish Life
Irish Life staff threaten strike action over restructuring
Members of the UNITE trade union are due to meet on Tuesday to consider a ballot on industrial action.
# Northern Rock
British government-owned bank selling Irish arm... to Irish government-owned bank
British-owned Northern Rock is selling its Irish operation to Permanent TSB – which is almost totally owned by the Irish government.
# Irish Life
Irish Life and Permanent shareholders could reject nationalisation
The government is proposing to inject nearly €4 billion to take 99 per cent control of the bank.
# Rebels
Irish Life and Permanent's 'rebel' shareholders call for EGM
But IL&P says its advice suggests this shareholder group can’t demand the meeting…
Group launches challenge to Permanent TSB tracker mortgage move
The ‘Protect Our Trackers’ group says a decision to terminate their interest-only periods is a breach of contract.
Eight days after €24bn payout, banks face more stress tests
AIB, Bank of Ireland, and Irish Life and Permanent will all face new EU tests – which could hit German banks hardest.
# Banks
No bondholder burden-sharing or EU concessions after stress tests
The government will give four Irish banks €24bn to keep them afloat – but won’t be spreading the damage among senior bondholders.
# Stress Tests
State must shell out another €24bn to banking sector - stress tests
AIB needs €13.3bn, Bank of Ireland €5.2bn, Irish Life & Permanent €4bn, and EBS building society €1.5bn in state funds.
# Stressed
What is a bank stress test?
Results of the Central Bank’s stress testing of four Irish lenders due out this afternoon, but what is it?
# Stress Tests
Three banks will need €9bn more in state funding, according to stress tests
All six of the guaranteed banks will be in state ownership, with Bank of Ireland and Irish Life and Permanent needing cash.
# Anglo
DPP to receive bank file within 24 hours
Two major files are to be sent to the DPP following an investigation into alleged financial irregularities involving banks.