Was meint Ihr, lohnt sich der einstig hier?

gute recherche,mein gefühl sagt kurz vor HV das weite suchen,,,also bis dahin noch sehr viel luft nach oben..  

... die HV?  

The Irish Times - Saturday, April 2, 2011

Stress tests expected to reassure markets

 

ARTHUR BEESLEY, European Correspondent

EUROPEAN REACTION: THE  EUROPEAN Commission said the stress tests should reassure markets that  there will be “no further surprises” from the Irish banks, but the  European Central Bank (ECB) warned its continued support for the sector  was conditional on the Government executing the EU-IMF bailout deal.

Well-placed  sources played down any expectation of the ECB quickly revisiting its  decision not to proceed with a special medium-term liquidity initiative  for the Irish banks.

Detailed preparations for such an initiative  are widely held to have split the ECB’s policy-makers, with doubts over  its merits and legality increasing the higher up the command chain the  discussions went.

ECB executive board member Lorenzo Bini Smaghi  said on television that the Government’s response demonstrated a  willingness to put the banks on a new footing so they could return to  the markets.

“We’ve done it so far and will continue to do it, but  it’s of course conditional on the programme,” he said in reference to  the link between ECB support for Ireland and the policy obligations set  out in the bailout deal. His stance reflects concern in the ECB about  its own exposure to Ireland via the emergency funding scheme, which the  central bank cannot safely unwind until Ireland’s banks source market  funding again.

It would be damaging for Ireland not to follow the  terms of the deal, Mr Bini Smaghi told the Bloomberg channel. “They lose  credibility in the market and they will be unable to go back to borrow  again,” he said. “It would make it very difficult for them to support  the development of the Irish economy. The alternative scenario is much  worse.”

As Irish 10-year bond yields climbed to 10.1 per cent, Mr  Bini Smaghi said credit rating downgrades of Ireland were “behind the  curve”. The pressure on the euro zone was also seen in a sharp increase  in Portuguese borrowing costs as it sold €1.645 billion in short-dated  bonds at 5.79 per cent interest, some 2.5 percentage points more than  last year.

The spokesman for EU economics, commissioner Olli Rehn, said there was no political interference in the stress test.

He  said the outcome of the test was “an important element that should be  taken into consideration” as Ireland seeks a lower interest rate on its  bailout loans.

However, he did not say whether he expected any  deal on the rate when Minister for Finance Michael Noonan meets European  counterparts next week in Budapest.

Asked if the examinations  stood as the “last word” on the banks, he said the capital requirement  was determined on the basis of a very conservative approach and “clear  vision” in the restructuring plan.

“We think it should convince  and it should reassure market participants that there will be no further  surprises. I think that’s clear,” he told reporters.

“There were  additional layers of rigour if I may say so added in one of the two main  exercises, the prudential capital assessment review [PCAR]. This should  minimise the probability of any future contingencies in the Irish  banking system.

“For instance, this PCAR exercise incorporates  very conservative estimations of losses over the whole lifetime by the  way of the banks’ assets. So, all in all, we think it is extremely  serious. It has incorporated many layers of what one could say  conservatism, that should reassure all market participants, governments  of course, [and] international financial institutions.”

He said  the bailout “troika” – the commission, the ECB and the IMF – shared a  sense of “solidarity” towards the test findings and method, but there  was “nothing political” in that. “It was in the best interests of all  participants to make sure that there was no such political  interference.”

 

http://www.irishtimes.com/newspaper/ireland/2011/...224293647613.html

 

 

Bank of Ireland – it lives!

Posted by Neil Hume on Apr 01 09:54.

The price action early on Friday morning:

No, that’s not an April fool.

Shares in Bank of Ireland really are trading higher.

And that’s because traders and analysts think there’s still an equity  investment case and a chance government ownership can be kept below 50  per cent (if subordinated debt holders to play ball).

First though a recap of Thursday’s stress test news…

BoI’s outstanding capital requirements have been raised to €5.2bn —  €4.2bn of fresh equity and €1bn of continent capital but crucially  Michael Noonan, the finance minister, has given them some time to find  it.

From the BoI press release:

The Bank is working actively, with its advisors, on  initiatives with a view to  meeting the €4.2 billion equity capital  requirement through a combination of  capital management initiatives,  other capital markets sources, and support  from existing shareholders.   The Minister for Finance has stated that the  Group will be provided  with time in order to raise/generate the additional  capital requirement  from private sources.  Any capital that cannot be  raised/generated  from private sources to meet this capital requirement will be  invested  by the State. We expect to be in a position to make an announcement  on  our capital plans in the coming weeks.

Now, the recapitalised bank will boast a Core Tier 1 ratio of 14.5  per cent. However, if BoI’s loan loss estimates prove to be more  accurate than the ones used in the stress test (see tables below) then  it could have significant excess capital and therefore an investment  case, says Dublin-based broker Davy:

BKIR’s own stress scenario assumes that losses are €2.2bn  lower that Blackrock’s estimates and in a base scenario, the bank’s  loan losses are €1.4bn lower. If we receive further detail regarding  medium-term funding support from Europe, we believe that private capital  and subordinated bondholders will engage with the equity story. If  there is significant interest from the subordinated bond-holders  (€2.6bn) as well as private sector capital, there is a reasonable chance  that government ownership can be kept below 50 per cent.

So option money then.

Unlike poor Irish & Life & Permanent which Davy reckons is doomed:

As we had feared given recent media leaks, the quantum of  capital required for IPM is far greater than expected, at €4bn. This is  split between €3.6bn of equity and €400m of contingent capital. The  variance versus expectations is due to the impact of PLAR and associated  de-leveraging costs.

IPM was faced with an incremental capital raise of €1.1bn related to  credit losses and a capital buffer of €700m. But it was the €2.2bn of  costs related to de-leveraging under PLAR that surprised, caused by the  bank’s loan-to-deposit ratio of 200%. The PLAR process enforced   commercial mortgages respectively. The damage would undoubtedly have  been even worse had the bank not recently received €3.6bn of deposits  from INBS.

The size of the capital raise is a cruel twist for the only bank not  to have received any state capital support to date. The intention is  also to engineer a flotation of the life company, which may contribute  €600m towards the capital target. On this basis, current equity-holders  are unlikely to participate in a capital raise for the banking entity  and we expect the bank to end up in majority government ownership.

 

http://ftalphaville.ft.com/blog/2011/04/01/534191/bank-of-ireland-it-lives/

 

 

DUBLIN, April 3 — Bank of Ireland hopes to raise more than a quarter of  the €4.2 billion (RM18.31 billion) of capital it needs to find by June  through a debt for equity swap, the Irish Independent said yesterday  without citing any sources.

The bank believes it can boost its capital by more than €1 billion by  offering investors who hold €2.6 billion of junior bonds the  opportunity to swap them for equity, the Irish Independent said.

The newspaper added that the bank was also preparing for a private  placement and a rights issue in a bid to become the only Irish lender to  stay out of majority state ownership after the government pledged to  recapitalise its financial system by €24 billion on Thursday.

No one from Bank of Ireland was immediately available to comment.

The bank, which said it would work to raise cash through a  combination of capital-management initiatives, raised €3 billion through  similar exercises last year when its share price was at around 1 euro.

Shares in the 36-per cent state owned lender closed 39 per cent higher on Friday at 30 euro cents.

Ireland’s Finance Minister said Bank of Ireland will avoid majority  state ownership if they succeed in raising funds privately but the  governor of the Irish central bank said it was likely all Irish banks  would end up in full state ownership. — Reuters

 

http://www.themalaysianinsider.com/business/article/bank-of-ireland-eyes-1-billion-in-debt-equity-swap-says-report/

 

 

stuttgart: 0,326 als start in den neuen tag (+5,5%)

 

 

Bank of Ireland to sell Burdale to raise €4bn

 

Bank of Ireland (Irish: BIR.IR - news) has put its Burdale lending business up for sale days after the financial group was told to raise more than €4bn (£3.3bn) in new capital.

Burdale, which offers asset-based lending in the UK and US including to businesses such as Jaguar Land Rover, is being sold as part of a series of disposals planned by Bank of Ireland as it moves to repair its finances.

London-based corporate financiers Hawkpoint has been hired to find a buyer for the business, though no timetable has yet been set for the sale or likely price tag disclosed.

The business was bought by Bank of Ireland from US banking group Wachovia in 2005 for £71m. It has been consistently profitable and last year made nearly £30m profits.

The company founded in 1992 specialises in making loans of between £10m to £250m to large and medium-sized business and has offices in London, Manchester (Frankfurt: A0ETDJ - news) and Birmingham, as well as in New York (Xetra: A0DKRK - news) and Stamford, Connecticut.

While Bank of Ireland (Berlin: IIK.BE - news) has not been as badly hit by the financial crisis as some other major Irish lenders it has still had to accept large amounts of state support.

The bank is currently 36pc-owned by the Irish taxpayer after accepting €3.5bn (£3.1m) of direct support, but following the announcement last week of the results of a series of stress tests conducted for the Central Bank (Other OTC: CBSU.PK - news) of Ireland it must raise a further €3.7bn.

In its own statement after the announcement of the results of the tests, Bank of Ireland said it would raise €4.2bn in equity that was intended to take its core Tier 1 capital to in excess of 10.5pc, more than 3pc above the minimum required under the latest Basel III capital rules.

Bank of Ireland has been given several years to raise the money and will continue to shrink its balance sheet so its loan-to-deposits ratio falls below a target of 122.5pc.

As part of this deleveraging plan, the bank will sell about €30bn of non-core loans by the end of 2013. It is expected that private investors might be found to invest in the lender, but if not the taxpayer will make up the difference.

In total, Ireland's four major banks will have to raise €24bn in new capital, which is expected to lead to the almost complete nationalisation of the country's banking system.

Allied Irish Banks (Irish: AIB.IR - news) , which is currently 49.9pc-owned by the state, will have to raise the most of any of the banks and must increase its capital by €10.5bn. EBS Building Society will raise €1.2bn, while Irish Life & Permanent will increase its capital by €3.3bn.

Anglo Irish Bank has already been completely nationalised and is not required to raise any more capital, having already received a state capital injection of €29.3bn.

News of Bank of Ireland's sale of the Burdale business came as the lender's chairman Pat Molloy received a letter signed by 1,200 staff expressing their "outrage" at the continued payment of bonuses to the senior management.

In the letter, the staff called on Mr Malloy to cease bonus payments until the bank could "honour the entitlements of all staff".

Last year, the Irish authorities blocked the payment of €40m in bonuses to the staff of Allied Irish Bank because of the public anger.

 

http://uk.finance.yahoo.com/news/...-3428816381.html?x=0&.v=1

 

letzter Kurs in EUR                            Kurszeit

0,326                                                 08:02 Uhr 04.04.2011

 

04.04.2011 08:27:24
Aktienkurs Bank of Ireland in EUR
 
0,32 EUR  +0,02 EUR  +4,95 %

http://www.finanzen.net/aktien/Bank_of_Ireland-Aktie

 

und nicht die meinung von lord of war...er muss noch etwas verstehen lernen..  

wow 0,34!  

Klasse

 

danke auch an kleine PRINZ; GUTE RECHERCHE  

abschlag von letzter woche ist dies auch kein wunder. die nachrichtenlage sieht sehr gut für unsere boi aus, daher würde es mich nicht wundern heute die 0,37 zu sehen

 

BOI bald 0,30er Zone nie wieder  

Wenn sie jetzt alles Richtig machen geht weiter die Post

 

Aus FTD:

Bank of Irland kann als einziges Institut darauf hoffen, nach denm Umbau nicht mehrheitlich vom Staat kontrolliertzu werden, derzeit hält Dublin 36 Prozent an der Bank.
Der Konsolidierungsplan der Regierung sieht vor, dass Bank of Irland über neue Kapitalrunden privater Investoren allmählich saniert werden soll.
Nur Bank of Irland dürfte das Zeug dazu haben, schon bald wieder für private Investoren interessant zu sein" sagte Stephan Lyons vom Aktienhändler Davy Stockbrokers.

Der Kapitalbedarf der übrigen Institute kann voraussichtlich nur noch durch weitreichende Verstaatlichung gedeckt werden.  

 

 

EurO!!!!!!!!!!!  

 

heißt es zu  nachhaltig zu durchbrechen...dann ist der Weg frei. Bisher prallen wir immer
wieder runter...  

auffwärts bitte

 

kommen Investoren
DANn die Kapitalerhöhung  

 

Und Hier ;-)))

 

http://www.foxchart.com/index.php?symbol=ire&go=Get+Chart

 

hatte doch anfang februar stark ueberlegt ob ich bei .40 raus gehe.....jetzt kommt ja schon wieder diese .40 - man man man, immer diese entscheidungen....