Sunday March 29, 2020

Banks move on developers over property loans

National Irish Bank (NIB) is set to trigger a fresh wave of significant write downs on property development loans across the Irish banking industry when it reports full-year results this week.

31st January, 2009

National Irish Bank (NIB) is set to trigger a fresh wave of significant write downs on property development loans across the Irish banking industry when it reports full-year results this week.

The move will add to pressure from auditors on other banks to write off significant losses on their property loan books and reassess the value of certain loan assets. The losses stem from the collapse in the value of land banks and completed properties...

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