BoI prepares to pay back state injections

Management's task now is to buy back €1.8 billion in government preference shares before the interest rate goes up in March, writes Jon Ihle.

3rd August, 2013
Andrew Keating, chief financial officer and Richie Boucher, chief executive, Bank of Ireland at the interim results. Photo: Photocall

Now that Bank of Ireland is a "normalised bank", as chief executive Richie Boucher told reporters last week, market attention is turning from when the institution will regain profitability to when and how it will be able to repay the state for billions in financial support.

Last week the bank reported much improved interim results for the first half of 2013, with a 60 per cent improvement in pre-tax losses compared to the same period...

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