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Bank of Ireland (Ireland) Message Board

  • robzuc15 robzuc15 Apr 14, 2011 7:23 AM Flag

    IRE to end ECB reliance by 2013!!! Huge News!!!

    (Reuters) - Bank of Ireland (BKIR.I) is confident it can end its reliance on emergency central bank funding well before the end of 2013 deadline to shrink its balance sheet, chief executive Richie Boucher said on Thursday.

    "Well within that time frame we won't be relying on monetary authority support," Boucher told reporters.

    "We don't have to generate a huge amount of deposit growth to get there. We are expecting some deposit growth but it is primarily through the asset deleveraging."

    Bank of Ireland currently has loans of around 23 billion euros from the European Central Bank and 8 billion euros in exceptional liquidity assistance from the Irish central bank.

    It has to shrink its loan book by nearly 33 billion euros by the end of 2013 to cut its funding requirements.

14.540.00(0.00%)Feb 13 4:02 PMEST