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05/08/2009
Irish Bank Losses Rising
Northern Ireland's First Trust Bank has lost £41m, according to the latest financial statement.
The report also detailed how this led to a £28m loss at the parent company Allied Irish Bank group's UK operation.
AIB in The Republic has also reported a pre-tax loss of €872m for the first six months of its financial year.
AIB, trading as First Trust in Northern Ireland, said its "asset quality deteriorated further, mostly in its property portfolios".
The bank said it making more money through lending due to the "re-pricing of customer loans to reflect market conditions."
AIB said its operating environment continues to be extremely difficult and added that First Trust's operating profit, before provisions, was £50m for the first half of 2009.
However, its loss before taxation was £41m because it has had to set aside £91m for loans it doesn't expect to be repaid.
It said this reflected the "deteriorating conditions in the Northern Ireland economy."
Net interest income was 16% lower than the same period last year reflecting a combination of lower interest rates and increased competition.
There have already been cut-backs. Staff costs at First Trust have fallen by 13% in past six months which the bank said is due to a reduction in staff numbers along with a freeze on pay increases and "a strong focus on discretionary expenditure."
HSBC and Barclays in Britain were able to get a boost from buoyant investment bank earnings in their recent figures, but Allied Irish did not, with its revenues from asset management, investment banking and wealth management all down.
Meanwhile, one of the UK's other top banking groups, Lloyds has today announced losses of £4 billion in the first six months of this year.
The bank, which was part-nationalised, has identified the large number of bad debts at HBOS, which it took over in September 2008, has a factor in the huge losses.
See: Lloyds Announces £4 Billion Loss
(BMcC/KMcA)
The report also detailed how this led to a £28m loss at the parent company Allied Irish Bank group's UK operation.
AIB in The Republic has also reported a pre-tax loss of €872m for the first six months of its financial year.
AIB, trading as First Trust in Northern Ireland, said its "asset quality deteriorated further, mostly in its property portfolios".
The bank said it making more money through lending due to the "re-pricing of customer loans to reflect market conditions."
AIB said its operating environment continues to be extremely difficult and added that First Trust's operating profit, before provisions, was £50m for the first half of 2009.
However, its loss before taxation was £41m because it has had to set aside £91m for loans it doesn't expect to be repaid.
It said this reflected the "deteriorating conditions in the Northern Ireland economy."
Net interest income was 16% lower than the same period last year reflecting a combination of lower interest rates and increased competition.
There have already been cut-backs. Staff costs at First Trust have fallen by 13% in past six months which the bank said is due to a reduction in staff numbers along with a freeze on pay increases and "a strong focus on discretionary expenditure."
HSBC and Barclays in Britain were able to get a boost from buoyant investment bank earnings in their recent figures, but Allied Irish did not, with its revenues from asset management, investment banking and wealth management all down.
Meanwhile, one of the UK's other top banking groups, Lloyds has today announced losses of £4 billion in the first six months of this year.
The bank, which was part-nationalised, has identified the large number of bad debts at HBOS, which it took over in September 2008, has a factor in the huge losses.
See: Lloyds Announces £4 Billion Loss
(BMcC/KMcA)
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25 June 2013
New NI Bank Notes In Circulation
New bank notes have been released into circulation in Northern Ireland. The £10 and £20 notes are being issued from Danske Bank and will gradually replace the existing Northern Bank notes. The design of the notes remains the same, the only difference is the Danske Bank logo has replaced the Northern Bank logo.
New NI Bank Notes In Circulation
New bank notes have been released into circulation in Northern Ireland. The £10 and £20 notes are being issued from Danske Bank and will gradually replace the existing Northern Bank notes. The design of the notes remains the same, the only difference is the Danske Bank logo has replaced the Northern Bank logo.
07 January 2005
Consequences ‘dire and grim’ says Robinson
The consequences for Sinn Féin will be “dire and grim” if Chief Constable Hugh Orde confirms IRA involvement in the £22 million Northern Bank robbery last month, said DUP deputy leader Peter Robinson.
Consequences ‘dire and grim’ says Robinson
The consequences for Sinn Féin will be “dire and grim” if Chief Constable Hugh Orde confirms IRA involvement in the £22 million Northern Bank robbery last month, said DUP deputy leader Peter Robinson.
03 January 2007
Bank robbery charges dropped
The County Down man accused of the £26 million Northern Bank robbery in 2004, has had the charges against him dropped. Dominic McEvoy, 23, a builder from Mullandra Park in Kilcoo, was not present in Belfast Magistrates Court during the hearing.
Bank robbery charges dropped
The County Down man accused of the £26 million Northern Bank robbery in 2004, has had the charges against him dropped. Dominic McEvoy, 23, a builder from Mullandra Park in Kilcoo, was not present in Belfast Magistrates Court during the hearing.
10 May 2012
Northern Bank To Be Rebranded
Danske Bank has announced a new organisational set-up for its operations in Northern Ireland and Ireland. The new structure will take effect on 1 June 2012. The re-organisation mirrors a similar Group wide set-up being introduced in all Danske Bank operations.
Northern Bank To Be Rebranded
Danske Bank has announced a new organisational set-up for its operations in Northern Ireland and Ireland. The new structure will take effect on 1 June 2012. The re-organisation mirrors a similar Group wide set-up being introduced in all Danske Bank operations.
23 February 2017
First Trust To Close 15 Branches In NI
Over 100 jobs are at risk after First Trust Bank confirmed it is to close 15 branches in Northern Ireland. First Trust, which is owned by AIB in Dublin, said the closures had been a "difficult decision". Head of First Trust Bank, Des Moore, said the bank has seen a 40% decline in branch usage since 2010.
First Trust To Close 15 Branches In NI
Over 100 jobs are at risk after First Trust Bank confirmed it is to close 15 branches in Northern Ireland. First Trust, which is owned by AIB in Dublin, said the closures had been a "difficult decision". Head of First Trust Bank, Des Moore, said the bank has seen a 40% decline in branch usage since 2010.
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.
