Allied Irish Banks Plc, the nation’s largest state-owned lender, reported overdue home-loan growth eased “significantly” in the third quarter as Moody’s Investors Service said Ireland’s housing market may have hit bottom.
Bank of Ireland Plc said its pension deficit will narrow by an initial 400 million euros ($550 million) under a plan to cut employee retirement benefits, in an accord that eases the way for the nation’s largest lender to repay part of its state bailout.
Ireland may give an unexpected update on the cost of bailing out Anglo Irish Bank Corp., the first of the country’s lenders to be nationalized, when it publishes the results of stress tests on the rest of the nation’s banks, two people with knowledge of the talks said.
Bank of Ireland Plc , Ireland’s largest bank, plunged for a third day as the government prepared to inject more capital, a step that may make it the fifth lender to fall under majority state control in less than two years.
Bank of Ireland Plc, the country’s biggest lender by assets, said its underlying pretax loss narrowed to 723 million euros ($1 billion) in the first half as a decline in bad loans offset rising funding costs.