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☆ Around 170 ‘executed’ in three Burkina Faso villages, public prosecutor says
▼ + stars: | 2024-03-04 | by ( Nimi Princewill | Eve Brennan | ) edition.cnn.com time to read: +1 min

CNN —Around 170 people have been “executed” in attacks on three villages in Burkina Faso’s northern Yatenga province, the regional public prosecutor has said. Aly Benjamin Coulibaly said in a statement on Friday that his office was initially informed of the “massive murderous attacks” in the villages of Komsilga, Nodin and Soroe on February 25. At least 15 Muslims and 15 Catholics were killed when “hordes of terrorists launched simultaneous attacks” on Tankoualou and Essakane villages, the government press agency Agence d’Information du Burkina (AIB) reported last week. Large areas of the north and east of Burkina Faso have become ungovernable since 2018. Millions have fled their homes, fearing further raids by gunmen who frequently descend on rural communities on motorbikes.

Persons: Aly Benjamin Coulibaly, Coulibaly Organizations: CNN, Agence d’Information du Burkina, AIB, European Union, Islamic Locations: Burkina Faso’s, Yatenga province, Komsilga, Soroe, West, Mali, Sahel, Burkina Faso

☆ Ireland amongst most robust economies in Europe, says AIB CEO
▼ + stars: | 2023-11-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIreland amongst most robust economies in Europe, says AIB CEOColin Hunt, CEO of Allied Irish Banks, discusses third-quarter earnings and explains why bank are raising their 2023 guidance.

Persons: Colin Hunt, Banks Organizations: Allied Locations: Europe

☆ Ireland hikes bank levy to 200 mln euros, revises methodology
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Clodagh Kilcoyne/ File Photo Acquire Licensing RightsDUBLIN, Oct 10 (Reuters) - Ireland will revise how it calculates its levy on banks after announcing plans to raise 200 million euros ($211.7 million) from the measure next year, up from 87 million euros in 2023, Finance Minister Michael McGrath said on Tuesday. The share paid by the remaining three banks is based on the amount of deposit interest retention tax (DIRT) each pay. McGrath told a news conference that the basis of the levy will change to being related to the value of a lender's deposits. Analysts at Davy Stockbrokers had said that an increase to 200 million euros based on the existing DIRT would have had an outsized impact on Permanent TSB (PTSB.I), relative to its larger rivals AIB (AIBG.I) and Bank of Ireland (BIRG.I). Davy estimated that the incremental impact from an increase based on retail or household deposits would be in the range of 2-3% of 2024 profit before tax across all three banks, based on its current forecasts.

Persons: Finance Paschal Donohoe, Michael McGrath, Clodagh, McGrath, Davy Stockbrokers, Davy, Padraic Halpin, William Schomberg, Mark Heinrich Our Organizations: Finance, Public Expenditure, REUTERS, Rights, TSB, AIB, Bank of Ireland, Thomson Locations: Dublin, Ireland, LONDON

☆ The top 10 companies hiring for hybrid jobs right now—they’re not all in tech
▼ + stars: | 2023-09-12 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

Hybrid work continues to be the popular choice among employees. To help people find the best hybrid opportunities, FlexJobs identified the top 100 companies hiring for hybrid jobs in 2023. These companies had the highest number of hybrid job openings on FlexJobs in the last year, and are considered to be strong prospects for hybrid job seekers through at least the end of 2023. Here are the top 10 companies hiring for hybrid jobs in 2023, according to FlexJobs, along with the full list of the top 100 companies here. Other popular career fields for hybrid jobs are computer/IT, marketing and project management.

Persons: What's, FlexJobs, Robert Half, Kelly Lee Hecht Harrison, Aston, Toni Frana, Kelly, Robert, Lee Hecht Harrison Organizations: Meta, Deloitte, Financial, Elevance, Allied Irish Bank, AIB, Aston Carter Lincoln Financial, Robert Half International Locations: FlexJobs, York

☆ AIB upgrades guidance after 70% jump in first quarter income
▼ + stars: | 2023-05-04 | by ( Padraic Halpin | ) www.reuters.com time to read: +2 min

SummarySummary Companies Bank increases FY net interest income guidance by 10%New savings products to be introduced in H2CFO comfortable with market consensus for 2024, 2025DUBLIN, May 4 (Reuters) - Ireland's largest mortgage lender AIB (AIBG.I) revised its full year guidance upwards across the board on Thursday after its total income jumped 70% year-on-year in the first quarter due to record increases in official interest rates. The bank said it expects net interest income of 3.3 billion euros this year versus the 3 billion guided in March, increased its net interest margin forecast to above 2.70% from 2.40% and forecast 2023 return on tangible equity (ROTE) to be a high-teens percentage. A 215 million euro direct share buyback last week cut the government's stake in the bank to 53%. The bank's net interest margin (NIM), a key metric showing the profitability of its lending, rose to 2.78% in the first quarter versus 1.45% a year ago when it was still operating in a negative interest rate environment. AIB Chief Financial Officer Donal Galvin said the market consensus for NIMs of 2.40% and 2.50% in 2024 and 2025 seemed reasonable.

☆ AIB CEO: Rising interest rates driving strong momentum
▼ + stars: | 2023-03-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAIB CEO: Rising interest rates driving strong momentumColin Hunt, CEO at Allied Irish Banks, discusses full-year earnings, interest rate sensitivity, and government shareholding in the business.

☆ Irish manufacturing activity shrinks again in Dec - PMI
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

The AIB S&P Global manufacturing Purchasing Managers' Index (PMI) was unchanged in December after falling in November to 48.7 from October's 51.4. Any reading below the 50 mark points to a contraction in activity. Ireland's factories have nevertheless proven more resilient to the Europe-wide cost-of-living crisis and it was the only euro zone member measured by the PMI where manufacturing was still growing until two months ago. That led to the slowest round of input price inflation since February 2021. Input prices were still elevated and output price inflation also remained high, accelerating in December.

☆ Ireland picks cheeky moment to lift bank bonus cap
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 30 (Reuters Breakingviews) - Ireland’s plan to lift a cap on bankers’ bonuses looks ill-timed. On Tuesday, Finance Minister Paschal Donohoe said Dublin will lift a 500,000 euro crisis-era cap on annual executive salaries and allow bonuses of up to 20,000 euros for bank workers. However, Irish bank bosses have long argued salary constraints made it difficult to retain top talent. The remaining big bank duopoly of AIB (AIBG.I) and Bank of Ireland (BIRG.I) means a customer backlash is unlikely as there is little alternative. Still, championing higher pay for bankers is a gutsy move in the middle of a cost-of-living crisis.

☆ Bank of Ireland increases fixed mortgage rates by 0.25%
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: 1 min

DUBLIN, Nov 10 (Reuters) - Bank of Ireland (BIRG.I) followed main rival AIB (AIBG.I) in increasing mortgage interest rates after the European Central Bank began to hike its rates, adding a smaller 0.25% to the cost of a new fixed-rate mortgage on Thursday. AIB (AIBG.I), the country's largest mortgage lender, last month became the first Irish bank to increase its fixed rates since the ECB began to push rates up at its fastest pace on record. It increased new fixed rates by half a percentage point. While Ireland's third high street lender Permanent TSB (IL0A.I) has yet to move, non-bank mortgage lenders in the market - ICS Mortgages, Avant Money and Finance Ireland - have increased the cost of mortgage products in recent weeks. Reporting by Padraic Halpin; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Bank of Ireland follows AIB in raising interest income guidance
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

DUBLIN, Nov 9 (Reuters) - Bank of Ireland (BIRG.I) on Wednesday followed main rival AIB (AIBG.I) in upgrading its net interest income guidance for 2022, reflecting the faster pace of European Central Bank interest rate increases. Ireland's largest bank by assets said in a trading update that it expects net interest income to increase by around 6% to 7% year-on-year compared to its previous guidance that it would be modestly higher than 2021. AIB, the country's largest mortgage lender, forecast last month that its net interest income would increase by more than 15% compared to the 10% expected previously. AIB is the only Irish bank so far to increase non-tracker mortgage interest rates since the ECB began to hike rates at its fastest pace on record. Bank of Ireland's 3% interest income growth year-to-date was driven by the bank no longer being charged negative rates by the ECB for excess deposits.

☆ Ireland sells 5% of AIB for 397 million euros
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Nov 8 (Reuters) - Ireland sold 5% of Allied Irish Banks (AIB) (AIBG.I) to institutional investors for 396.6 million euros ($396.24 million), the finance ministry said on Tuesday, part of a drive to sell down bank stakes acquired during the financial crisis. The state's stake stood at 71% at the start of the year. Ireland pumped 64 billion euros ($64.2 billion), or almost 40% of its then annual economic output, into the country's banks just over a decade ago following a huge property crash. It sold the last of its shares in Bank of Ireland (BIRG.I) in September. ($1 = 1.0009 euros)Writing by Conor Humphries; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Ireland to sell 8% of its majority stake in AIB in one go
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Nov 7 (Reuters) - The Irish government received more than enough demand to cover the sale of 8% of its majority stake in Allied Irish Banks (AIB) (AIBG.I) in an accelerated book build on Monday, one of the joint bookrunners said. The state's stake stood at 71% at the start of the year. AIB shares closed up 1.96% at 3.20 euros on Monday. The last placing, conducted before euro zone banks began to benefit from European Central Bank interest rate hikes, was priced at 2.28 euros per share. Ireland pumped 64 billion euros ($64.2 billion), or almost 40% of its then annual economic output, into the country's banks just over a decade ago following a huge property crash.

☆ Irish manufacturing sector posts slow growth in October - PMI
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

DUBLIN, Nov 1 (Reuters) - Ireland's manufacturing sector posted modest growth in October as demand remained weak, a survey showed on Tuesday. The AIB S&P Global manufacturing Purchasing Managers' Index (PMI) slipped to 51.4 in October from 51.5 the previous month, hovering above the 50 mark that separates expansion from contraction. Ireland outperformed the wider euro zone's flash manufacturing PMI, which last week slipped to 46.6. The survey showed the output subindex returning to expansion for the first time in five months while the contraction in new orders eased. Writing by Conor Humphries; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ This startup cuts down on the legal costs paid by the likes of Airbnb and LinkedIn. Check out the 9-slide pitch deck Johnson Hana used to raise $10.5 million.
▼ + stars: | 2022-10-25 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +2 min

Johnson Hana has raised 10.5 million euros (around $10.4 million) to take on the legal sector. The startup, used by the likes of Ryanair and Airbnb, aims to dramatically reduce legal costs. Irish legal tech startup Johnson Hana has raised 10.5 million euros (around $10.4 million) to build out its platform which is designed to upend traditional law firms by offering legal services to the likes of LinkedIn and Airbnb at a fraction of the industry cost. Compliance tasks that often form the basis of legal process work are often charged by law firms as advice that demands more input from lawyers, according to Johnson Hana. Check out the 9-slide pitch deck Johnson Hana used to raise the funds below:

☆ Bank of Ireland returns to full private ownership
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

A man passes a logo for the Bank of Ireland as he leaves the bank in Dublin May 28, 2007. REUTERS/Luke MacGregor (IRELAND)DUBLIN, Sept 23 (Reuters) - Bank of Ireland (BIRG.I) became the first Irish lender to return to full private ownership since the aftermath of the 2008-09 global financial crisis after the government said on Friday that it had sold the last of its shares. Bank of Ireland, the country's largest bank by assets, was the only lender to avoid majority state ownership and the only one on which the government has made a profit on its investment so far. It earned approximately 841 million euros since it began the gradual sale of the state's residual 13.9% shareholding in Bank of Ireland in August 2021. "The gradual disposal of the state's investment in Bank of Ireland into a rising market has been successful in delivering on this objective for our citizens."

☆ Bank of Ireland to return to full private ownership shortly - minister
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +1 min

General view of a branch of the Bank of Ireland in Dublin, Ireland, March 1, 2021. REUTERS/Clodagh KilcoyneDUBLIN, Sept 21 (Reuters) - Ireland's finance minister said on Wednesday that he expects to announce shortly that the government has cut its shareholding in Bank of Ireland (BIRG.I) to zero having raised over 800 million euros by selling shares in the bank in the last year. The finance ministry began the gradual sale of the state's residual 13.9% shareholding in the country's largest bank by assets in August 2021 and had cut its stake in the lender below 3% by June of this year. Finance Minister Paschal Donohoe also told a parliamentary committee that his department would resume a similar gradual sale of shares in AIB Group (AIBG.I) later this month while also monitoring the market for opportunities to sell a larger chunk of stock in one go. Register now for FREE unlimited access to Reuters.com RegisterReporting by Padraic Halpin;Editing by Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

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