IL&P net loss widens to €424 million

Irish Life & Permanent said its net loss widened to €424 million euros in 2011 from a loss of €321 million a year earlier, as it set aside more provisions to cover impaired home loans.

2nd April, 2012
IL&P net loss widens to €424 million
Impairment charges at Irish Life & Permanent charges rose to €1.4 billion, three times higher than in 2010.

Irish Life & Permanent said its net loss widened to €424 million euros in 2011 from a loss of €321 million a year earlier, as it set aside more provisions to cover impaired home loans.

The company’s loan-loss charges rose to €1.4 billion, three times higher than in 2010 when it was €420 million euros. The 2011 impairment charge was partly offset by a €1 billion gain from exchanging subordinated debt at a discount to nominal...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

The year in review

Newsround: What Thursday’s papers say