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Bank of Scotland Ireland Results

  • 24-02-2012 11:11am
    #1
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭


    http://www.investegate.co.uk/Article.aspx?id=201202240700130514Y

    Ugly. These guys in BOSI Were EVEN Worse Than Anglo..... 1.5bn out of 7.5 bn Retail loans are impaired and around 66% of all Commercial lending. Most retail lending was Mortgages....jeez 20% is double our natives clowns impairments :(


Comments

  • #2
    Godge
    Closed Accounts Posts: 21,727 ✭✭✭✭Godge


    Sponge Bob wrote: »
    http://www.investegate.co.uk/Article.aspx?id=201202240700130514Y

    Ugly. These guys in BOSI Were EVEN Worse Than Anglo..... 1.5bn out of 7.5 bn Retail loans are impaired and around 66% of all Commercial lending. Most retail lending was Mortgages....jeez 20% is double our natives clowns impairments :(

    link doesn't work? And your point is?


  • #3
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    exactly.


  • #4
    antoobrien
    Registered Users, Registered Users 2 Posts: 6,106 ✭✭✭antoobrien


    Sponge Bob wrote: »
    Ugly. These guys in BOSI Were EVEN Worse Than Anglo..... 1.5bn out of 7.5 bn Retail loans are impaired and around 66% of all Commercial lending. Most retail lending was Mortgages....jeez 20% is double our natives clowns impairments :(

    Good job they're not an Irish bank and we don't have to worry about replacing their mortgage losses then.

    I wonder could we fine BOSI for reckless trading, the results indicate that they were p*ss poor in that regard.


  • #5
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    We might still have Banks had BOSI not gone nuts from around 2002 onwards

    They introduced a lot if 'innovations' here. 100% Mortgages on primary residences and IO Mortgages were BOSIs Idea.


  • #6
    killers1
    Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    Sponge Bob wrote: »
    We might still have Banks had BOSI not gone nuts from around 2002 onwards

    They introduced a lot if 'innovations' here. 100% Mortgages on primary residences and IO Mortgages were BOSIs Idea.

    They also brought Tracker rate mortgages to Ireland....


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  • #7
    Maura74
    Banned (with Prison Access) Posts: 559 ✭✭✭Maura74


    RBS is 80%public owned and the public sector pay has been frozen for the past 3 years and they are not too pleased with RBS staff getting millions in bonus for failure.



    http://www.dailyrecord.co.uk/news/multimedia/2012/02/23/further-public-anger-over-royal-bank-of-scotland-bonus-payouts-86908-23762477/


  • #8
    BornToKill
    Registered Users, Registered Users 2 Posts: 1,053 ✭✭✭BornToKill


    That's RBS though, which is separate. The thread is about Halifax/Bank of Scotland. That was bought by Lloyds TSB and is now part of Lloyds Banking Group.


  • #9
    nlgbbbblth
    Closed Accounts Posts: 5,668 ✭✭✭nlgbbbblth


    People still don't know the difference.
    No matter how many times it's explained.


  • #10
    Mumm_ra
    Registered Users, Registered Users 2 Posts: 95 ✭✭Mumm_ra


    I say thanks BoSI if it wasn't for you I know where these losses would be sitting now


  • #11
    nlgbbbblth
    Closed Accounts Posts: 5,668 ✭✭✭nlgbbbblth


    Where?


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  • #12
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    The big question is whether our banks which carry a 10% impaired Mortgage book were any better than BOSI who have a 20% impaired book.

    I reckon not so as a proxy we can infer another €11bn of impairments on what we own.

    The developer (and hotels) book is 90% impaired.


  • #13
    Scofflaw
    Registered Users, Registered Users 2 Posts: 23,283 ✭✭✭✭Scofflaw


    Sponge Bob wrote: »
    The big question is whether our banks which carry a 10% impaired Mortgage book were any better than BOSI who have a 20% impaired book.

    I reckon not so as a proxy we can infer another €11bn of impairments on what we own.

    The developer (and hotels) book is 90% impaired.

    "I reckon not" isn't really a very strong argument. The Irish banks have been gone over with a fine tooth comb by the IMF at this stage - how exactly would they have missed half of all impaired loans?

    cordially,
    Scofflaw


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