Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
PPI: Bank of Ireland posts £1bn loss

Bank of Ireland has announced a pre-tax loss of 1.24 billion euros (£1billion) for the first half of this year.

The firm has been hit badly by a series of bad loans which cost the company around 1.8 billion euros (£1.4 billion).

It was forced to transfer 900 million euros (£746 million) worth of loans to the National Asset Management Agency, while the bank also recorded a loss of 900 million euros on other loans.

This year's figure is almost twice as high compared to 2009, when the firm posted a loss of 668 million euros.

Richie Boucher, chief executive of the company, claimed the lender is more stable after it secured more funding.

He said: "We are confident that the steps that we have taken in the first half of 2010 to strengthen the group will enable us to successfully meet the many challenges ahead and position us well to capitalise on the opportunities that arise through a recovery in the economic conditions in our key operating markets in Ireland and the UK "

Bank of Ireland received 3.5 billion euros from the Irish government during the recession, along with fellow lender AIB.

Posted by Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers. ADNFCR-2776-ID-800021998-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide