Allied Irish Banks Plc, the country’s second-largest lender by assets, won European Union approval for its 21 billion-euro ($29 billion) taxpayer rescue after agreeing a restructuring plan to return to profitability.
Royal Bank of Scotland Group Plc said its Irish unit, Ulster Bank, posted its first quarterly profit in five years as impaired loan losses fell 80 percent, helped by a transfer of risky assets to an internal bad bank.
Ryanair Holdings Plc, Europe’s biggest discount airline, said it’s exploring a requirement for at least 200 single-aisle jets with Commercial Aircraft Corp. of China after signing an accord to help develop the C919 model.
U.S. billionaire Wilbur Ross reaped a 105 million-euro ($138 million) gain in five months after buying a stake in Bank of Ireland Plc, the nation’s largest lender, amid one of the costliest banking crises in history.
The Irish government may be forced to take controlling stakes in Bank of Ireland Plc and Irish Life & Permanent Plc , the last of the country’s biggest lenders to escape state control, following tomorrow’s stress tests.
Bank of Ireland Plc fell in Dublin trading after Moody’s Investors Service said the nation’s lenders’ balance sheets face credit and capital risks as they head into European Central Bank stress tests this year.