BoI faces an uphill battle

Richie Boucher wants Bank of Ireland to be in the black again by 2014, but he will have his work cut out to achieve that goal, writes Jon Ihle.

11th August, 2012
Richie Boucher convinced investors to buy up nearly 35% of Bank of Ireland on the strength of his plan to put it on the road to profits. Photo: Tony O'Shea

It can't be easy trying to run a profitable bank in Ireland these days. Interest rates are low, the cost of funding is high and a depressed economic environment means bad debts are rife while good credit risks are few and far between.

Bank of Ireland was supposed to show the way back to profitability for the Irish banking sector. Ireland's only remaining privately-owned domestic bank narrowly avoided nationalisation one year ago when a loose...

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