Recapitalisation fails to lift the gloom at BoI

Over at Bank of Ireland, any enthusiasm for the recapitalisation was quickly overshadowed by further bad news on the bad debt front.

14th February, 2009

Over at Bank of Ireland, any enthusiasm for the recapitalisation was quickly overshadowed by further bad news on the bad debt front. A trading statement issued immediately after the recapitalisation had been finalised disclosed that impaired loans could shoot up from €3.8 billion to €6 billion over the next three years.

Brian Goggin, chief executive of Bank of Ireland until his early retirement this summer, told investors that the bank would make a loss for...

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