Bank of Ireland Plc is confident it has enough capital for European stress tests this year as the nation’s largest lender returns to profit amid signs of an economic recovery, Chief Executive Officer Richie Boucher said.
New York investment banker Carlos Abadi was among the losers when Allied Irish Banks Plc imploded, wiping out $6.3 billion of junior bonds. Two years later, he’s willing to buy the lender’s debt again.
Ireland may need to inject 3.5 billion euros ($4.7 billion) of capital into Allied Irish Banks Plc by the end of the year, leaving it with a 90 percent stake in the nation’s second-largest lender, Stephen Lyons , an analyst with Dublin-based securities firm Davy, said.
Anglo Irish Bank Corp. and Irish Nationwide Building Society will start talks with government officials this week to decide which parts of the state- controlled lenders may be merged following the country’s bailout, two people with knowledge of the discussions said.
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.