Post bank now in issues with it partner Fortis

derry

Fortis a huge Euro bank so big that ROI is a minnow has had to be rescued

Fortis and ROI Post office made a new bank solution a while back

Post bank money is something like half the post office half the Fortis Bank

The RTE news says the Post bank will be only garrentees to the normal banking rule 100,000k Euros as it a Bank and not the old fashioned original post office saving accounts which are 100% garrenteed

http://news.bbc.co.uk/2/hi/business/7641132.stm

(I would give you RTE link but 9 am and nothing on the site even though it was on the 9 AM news)


Lucky for me I suspected that Post Bank wasn't the post office saving solution and put my money out from Post Bank into the post office saving accounts

I did that months ago long before RTE and Joe Duffy and discovered thousands of peoples months ago also tranfered out of banks into post office saving solutions

I found a few who thought Post bank was the post office and had to change out of Post bank to post office saving

Seems the banking investment world isn't such a interesting place to be now or maybe ever

some links on similar threads

http://www.boards.ie/vbulletin/showthread.php?t=2055387193

On sunday before todays annoncement the information was saying strongly hinting even Post bank is a bank like other banks and not post office saving

showthread php?t 2055387193 wrote:

The joe soaps minnows in this big pond with big sharks cant ever win in this investment system
They would have better odds with the lotto or the prize bonds and probably a tad safer in post office saving (NB not post bank which is a bank)

interesting humerous vidio explains the subprime mess so well and it possible effects
http://www.youtube.com/watch?v=mzJmTCYmo9g


Derry

dudara

PostBank is a joint 50:50 venture between An Post and Fortis. It is a bank and therefore subject to the same deposit protection as other banks. This is distinct from the government guarantee on Post Office savings.

Fortis will now be partially nationalised by the countries of the Benelux region, and will have to sell its recently acquired division of ABN Amro, as it no longer has adequate funds to finance the deal. This is despite Fortis recently announcing a 6 month profit of €1.6 billion.

I have no idea what impact the partial nationalisation of Fortis will have on PostBank.

It just goes to show the big difference that exists between the concepts of value and liquidity.

derry

Investments and faith seem to be the theme


Re dudara:
I have no idea what impact the partial nationalisation of Fortis will have on PostBank.


faith is do nothing and hope all will be fine at the end of the day:rolleyes:

lack of faith
Maybe the farmers done the country have the right idea all the loot under the matress:eek:

But this weekend alone we have seen lots of banking investments needing to be rescued

How deep are the pockets of the Governments to keep having every weekend a new bailout???

Have faith my child have faith

Derry

redroar1942

Are you Joe Duffy on Prozac?

I dont see the point of your thread. Fortis is 19th in the top 20 in terms of european financial institutions, hardly what you'd claim huge.

BuffyBot

Lucky for me I suspected that Post Bank wasn't the post office saving solution and put my money out from Post Bank into the post office saving accounts

They've never claimed to be.

I don't see much point in this either. Derry - final warning. Start another nonsense ramble thread again, and you'll lose access to this forum for a while.