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Irish life and permanent

  • 23-06-2010 8:04am
    #1
    heno55
    Registered Users, Registered Users 2 Posts: 123 ✭✭


    does anybody know or have any idea why their sp is doing so badly,they are outside nama even though they are the largest mortgage providers in Ireland and the life buisness is doing well, when i finally decided to get out of Irish bank stocks i kept shares in il&p as i thought they were a safer BET.


Comments

  • #2
    heno55
    Registered Users, Registered Users 2 Posts: 123 ✭✭heno55


    anyone got any ideas/theorys


  • #3
    pocketdooz
    Registered Users, Registered Users 2 Posts: 1,559 ✭✭✭pocketdooz


    heno55 wrote: »
    anyone got any ideas/theorys

    Their loan book is total sh1te.

    .


  • #4
    Comordha
    Closed Accounts Posts: 562 ✭✭✭Comordha


    Dolmen have a bit of info today -

    http://www.rte.ie/business/2010/morningrep/download/0701dolmen.pdf

    They seem to think it is very undervalued. I've had enough of the banks, they are a boring investment now, going to stick to Consumer Staples and Exploration / Energy.


  • #5
    finisklin
    Registered Users, Registered Users 2 Posts: 1,524 ✭✭✭finisklin


    The Phoenix has a profile on them in this week's edition....consensus is definitely not positive.....the crux of the problem is IL&P focus on residential mortgages (€35bn). There provision for losses is 1.2% which is way off the mark, given how property has fallen in value. It had banking losses last year of €270m.

    There are also in the running to acquire EBS...

    SP is not gonna be happy for awhile.


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