EBS - Whats gonna happen and when?

whoever

If EBS merges with say IL+P will everyone get a couple grand €€€€€€? How likely is the merge? Anyone have an opinion? Is there a gov act that doesn't allow this to happen?

ninty9er

I've worked there, it's not demutualising any time soon.

The systems are all in place in the event that it should, but that's in the same way the mechanism for measuring the residential rate is still operational and was never decommissioned after 1977. It produces a bill every year, but it just gets cancelled.

So if you (like others) heard the systems and IT rumour, it's procedural and has always been that way.

Oracle

I've been with EBS for years. I noticed my account has changed it's name from Share Account, (self explanatory), to Savings Account, and now it's called Instant Access. Either way they needn't think just because they've changed the account name I'm not a share account holder. Just think it's kinda sneaky.

ninty9er

Oracle wrote: »

I've been with EBS for years. I noticed my account has changed it's name from Share Account, (self explanatory), to Savings Account, and now it's called Instant Access. Either way they needn't think just because they've changed the account name I'm not a share account holder. Just think it's kinda sneaky.

People like you getting their backs up over a product name change are the reason rumours constantly abound about demutualisation. It's not sneaky, it's a product name change, nothing else.:rolleyes:

Show_me_Safety

i have a share account account, but we'll prob get nothing. AAM have quite a few threads on it.

my dad got a payout from first active tho years ago.

Oracle

Yes, that's right it's people like me who cause these rumours, the nationalisation of Anglo Irish Bank, and the 1929 stock market crash. :rolleyes:

I do object to my account type and name being changed, without notification, request, permission, or explanation, whenever a new passbook is issued. It is sneaky, because it can only potentially benefit EBS, not me.

BuffyBot

People..cool it. This highly speculative thread is on thin ice as it is..

Omnipresence

I agree...

And a bit of a reality check... if this was the good times any such "event" like being discussed one would expect some sort of payout...

in the current environment and event would be a defensive measure/for survival and wouldn't involve any such "windfall" that people may be hoping for

TIMES HAVE CHANGED people...

by8auj6csd3ioq

"Times are tough all right and these are the good times" a man said to me during the boom. Well he said it:o

ninty9er

Oracle wrote: »

I do object to my account type and name being changed, without notification, request, permission, or explanation, whenever a new passbook is issued. It is sneaky, because it can only potentially benefit EBS, not me.

How do you reckon. A share is more of an equity. EBS doesn't have tradeable equity.

I've had people have hissy fits at the counter over it. It's a name, your entitlements remain the same, your obligations remain the same.

The only difference is you have to have more than €127 in your account, there was always a limit anyways.

Get over it.

The Rooster

ninty9er wrote: »

I've worked there, it's not demutualising any time soon.

The systems are all in place in the event that it should, but that's in the same way the mechanism for measuring the residential rate is still operational and was never decommissioned after 1977. It produces a bill every year, but it just gets cancelled.

So if you (like others) heard the systems and IT rumour, it's procedural and has always been that way.

It won't demutalise, but there's a chance it would be taken over by PTSB, which would amount to the same thing.

In such event, all members would be due a payment. But given the value of banks at the moment I wouldnt be holding out for big wedge

Santa Claus

ninty9er wrote: »

People like you getting their backs up over a product name change are the reason rumours constantly abound about demutualisation. It's not sneaky, it's a product name change, nothing else.:rolleyes:

I worked there in the mid 90s when they changed share accounts that had direct debits on them to a new money manager account.
This was MORE than a name change as account holders of new money manager accounts lost the rights associated with a share account on the basis that a share account wass purely savings.
They did offer people at the time the chance to cancel any DDs before this happened but I don't think many realised what had happened.

I thought at the time that it was sneaky and underhand they way it was brought through the AGM (leave it till near the end...these were the days when free sambos and drink were still comonplace at AGMs) and it proves that sometimes a name change is more than just a name change !


On the issue of a take-over....the EBS has been consistently over-cautious in relation to it's lending so the level of bad debts they have should be low in relation to the other Irish institutions leaving it relatively stable.
Only reason for a merger/take-over is if they get tarred with the same brush as all irish banks and can't raise capital !

Omnipresence

Santa Claus wrote: »

On the issue of a take-over....the EBS has been consistently over-cautious in relation to it's lending so the level of bad debts they have should be low in relation to the other Irish institutions leaving it relatively stable.
Only reason for a merger/take-over is if they get tarred with the same brush as all irish banks and can't raise capital !

Unfortunately it has been noted recently that the commercial lending side was not so cautious - hence Irish Life going cold on the deal (this was in the papers at the weekend)

homer911

The possibility of a tie-up with Rabobank (another mutual) surfaced again a few months ago, but it seems Rabo weren't interested when they took a look at the book - they guard that AAA rating like the crown jewels!