Tobia
Forumer storico
no, ma siccome ho chiesto un ricontatto con iW chiedo e poi ti so dire
Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 1
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no, ma siccome ho chiesto un ricontatto con iW chiedo e poi ti so dire
Zorba
Bos 4 Mod
Taxpayers will get back 'bulk' of the €13.3bn cash injection
Hodgkinson acknowledges the hurt of investors and insists worst is over despite €10.4bn loss
AIB executive chairman David Hodgkinson. Photo: PA
By Laura Noonan
Wednesday April 13 2011
AIB boss David Hodgkinson yesterday insisted the taxpayer would get back the "vast bulk" of the €13.3bn soon to be pumped into the bank, despite rocketing losses.
The comments came as AIB admitted it lost €10.4bn last year, a result that would be the biggest loss in Irish corporate history if not for the even worse performance of Anglo Irish Bank.
Mr Hodgkinson admitted the outturn was "very disappointing", adding that he wished to "acknowledge the hurt" of private investors who "are entitled to feel aggrieved that their money was not better protected".
But he insisted that the "worst was over" and that the €13.3bn of taxpayer funds set to go into AIB over the coming months would not be "lost money". "What has essentially been wiped out is the private shareholders and some bondholders who have lost about €18bn," Mr Hodgkinson said.
"The message for the public should be that, yes, you put [more] capital into the bank but the vast bulk of that should come back over time."
Asked when the State could realistically expect to start getting its money back, Mr Hodgkinson said that was a "really tough one to call" but that it would "not be this year or next".
Profit
AIB is hoping to tempt private investors to buy some of the Government's 93pc stake when the bank returns to profit sometime after 2012.
Once the markets stabilise, AIB may also be able to wind-down its "overcapitalisation" and return money to the Exchequer. "I don't think this [the Government's exit] will be a big bang," Mr Hodgkinson said. "This will be a progressive thing."
The €10.4bn loss reported yesterday was sharply worse than the €2.3bn hit recorded during 2009, as losses on AIB's Nama-bound loans more than doubled to €8.5bn.
Last year also saw a substantial deterioration in AIB's "other" loans, which booked impairments of €4.5bn in 2010 against a charge of €1.6bn in 2009.
Residential mortgages account for about a third of the €94bn non-Nama portfolio, making them AIB's single biggest exposure.
The bank took an extra €438m of provisions on mortgages last year, bringing total provisions to €566m.
The results for 2010 were also blunted by €500m worth of fees for the government guarantee scheme, AIB finance boss Bernard Byrne said yesterday. Though he admitted the bank was also benefiting from lower funding costs.
As AIB's deposits fell by €22bn last year, its reliance on last-resort central bank funding surged to €36bn, including €11m in 'emergency' funding from the Central Bank of Ireland.
The €25bn of funding that comes directly from Frankfurt carries an interest rate of 1pc while the €11bn from the Central Bank of Ireland costs AIB about 3pc. Both are well below what the bank would be paying on the money markets.
AIB yesterday said that its reliance on 'emergency' money from the Irish central bank has significantly reduced in recent months, after the bank received the proceeds of its €2.1bn sale of Bank Zachodni.
AIB's funding position was also boosted by the acquisition of €8.5bn in deposits from Anglo Irish Bank, and executives said deposits had "stabilised" since the March 31 bailout announcement.
Shares in the bank closed down 3c, or 12pc last night, amid average trading volumes.
Hodgkinson acknowledges the hurt of investors and insists worst is over despite €10.4bn loss
AIB executive chairman David Hodgkinson. Photo: PA
By Laura Noonan
Wednesday April 13 2011
AIB boss David Hodgkinson yesterday insisted the taxpayer would get back the "vast bulk" of the €13.3bn soon to be pumped into the bank, despite rocketing losses.
The comments came as AIB admitted it lost €10.4bn last year, a result that would be the biggest loss in Irish corporate history if not for the even worse performance of Anglo Irish Bank.
Mr Hodgkinson admitted the outturn was "very disappointing", adding that he wished to "acknowledge the hurt" of private investors who "are entitled to feel aggrieved that their money was not better protected".
But he insisted that the "worst was over" and that the €13.3bn of taxpayer funds set to go into AIB over the coming months would not be "lost money". "What has essentially been wiped out is the private shareholders and some bondholders who have lost about €18bn," Mr Hodgkinson said.
"The message for the public should be that, yes, you put [more] capital into the bank but the vast bulk of that should come back over time."
Asked when the State could realistically expect to start getting its money back, Mr Hodgkinson said that was a "really tough one to call" but that it would "not be this year or next".
Profit
AIB is hoping to tempt private investors to buy some of the Government's 93pc stake when the bank returns to profit sometime after 2012.
Once the markets stabilise, AIB may also be able to wind-down its "overcapitalisation" and return money to the Exchequer. "I don't think this [the Government's exit] will be a big bang," Mr Hodgkinson said. "This will be a progressive thing."
The €10.4bn loss reported yesterday was sharply worse than the €2.3bn hit recorded during 2009, as losses on AIB's Nama-bound loans more than doubled to €8.5bn.
Last year also saw a substantial deterioration in AIB's "other" loans, which booked impairments of €4.5bn in 2010 against a charge of €1.6bn in 2009.
Residential mortgages account for about a third of the €94bn non-Nama portfolio, making them AIB's single biggest exposure.
The bank took an extra €438m of provisions on mortgages last year, bringing total provisions to €566m.
The results for 2010 were also blunted by €500m worth of fees for the government guarantee scheme, AIB finance boss Bernard Byrne said yesterday. Though he admitted the bank was also benefiting from lower funding costs.
As AIB's deposits fell by €22bn last year, its reliance on last-resort central bank funding surged to €36bn, including €11m in 'emergency' funding from the Central Bank of Ireland.
The €25bn of funding that comes directly from Frankfurt carries an interest rate of 1pc while the €11bn from the Central Bank of Ireland costs AIB about 3pc. Both are well below what the bank would be paying on the money markets.
AIB yesterday said that its reliance on 'emergency' money from the Irish central bank has significantly reduced in recent months, after the bank received the proceeds of its €2.1bn sale of Bank Zachodni.
AIB's funding position was also boosted by the acquisition of €8.5bn in deposits from Anglo Irish Bank, and executives said deposits had "stabilised" since the March 31 bailout announcement.
Shares in the bank closed down 3c, or 12pc last night, amid average trading volumes.
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zeta59
Forumer storico
Gentilissimo , grazie , intanto ho chiesto anche io un ricontatto da B.P. (banca fisica)
Zorba
Bos 4 Mod
Bank offloads assets 'below the radar' as it looks to slim portfolio by €20bn
Wednesday April 13 2011
AIB has already begun selling off assets as it "actively" pursues ways to slim down its portfolio by almost €20bn, executive chairman David Hodgkinson said yesterday.
News of the "below-the-radar" sales came as Mr Hodgkinson set out his vision for a "radically" changed AIB and promised an imminent injection of fresh leadership.
But despite the many changes facing AIB, Mr Hodgkinson insisted that the bank's "preference" was to remain listed on the stock exchange, even though the Government's stake could soon top 98pc.
AIB was ordered to downsize by €20bn under the latest banking restructuring package announced by the Government, which will see AIB get another €13.3bn in capital.
The bank yesterday said it had selected €25bn of loans to be transferred to a 'non-core' division that would be managed separately to the main group.
Loans
Land and development loans worth less than €20m, some UK loans and other international loans are going into the non-core division.
"The quality of some of the international loans [going into non core] is quite good so many of those will be saleable," Mr Hodgkinson said yesterday.
"We are certainly not depending on run down [customers paying back their loans], we have to be actively trying to meet our deleveraging targets."
The bank has hired London-based advisers to assist on disposals and has already made some "under-the-radar sales".
Mr Hodgkinson declined to comment on the prospect of imminent sales but said they would be carried out in a "timely and determined way" that didn't trigger fire-sale losses.
The bank boss admitted efforts to sell AIB's investment management division to Irish Life & Permanent had collapsed and under-bidders would be given an opportunity to re-enter the fray.
The remainder of AIB will be transferred to a newly created 'core' bank that will have €61bn of loans and a "capacity to meet customer demand" for new lending.
"I don't think anybody needs to be convinced of the need for radical change after the torrid time the bank has been through," Mr Hodgkinson said, promising an imminent shake-up of management and board members.
AIB has been hunting for a permanent chief executive since last autumn and Mr Hodgkinson said he now had a "good list of potential candidates from around the world", including several who had "said they were interested in taking discussions further".
Capital raising
Now that AIB has clarity around its capital raising and future structure, it hopes to be able to appoint a chief executive "by the third quarter".
The €13.3bn of fresh capital includes €11.9bn in equity and a €1.4bn debt instrument. AIB yesterday admitted it had little prospect of raising any fresh cash from the private market.
A decision on what action could be taken to eke capital from the bank's bondholders was a matter for the Government, Mr Hodgkinson said, though many observers believe gains can be gotten from a debtfor-equity swap.
If the bank doesn't get any capital from market sources, the State's stake could rise to more than 98pc.
Mr Hodgkinson said that even if the stake got that high, his "preference" would be to keep AIB on the stock exchange, citing the corporate governance benefits of maintaining a listing.
Staying on the stock exchange would also make it easier for the Government to ultimately sell down its stake, AIB's finance boss Bernard Byrne said.
- Laura Noonan
Irish Independent
Wednesday April 13 2011
AIB has already begun selling off assets as it "actively" pursues ways to slim down its portfolio by almost €20bn, executive chairman David Hodgkinson said yesterday.
News of the "below-the-radar" sales came as Mr Hodgkinson set out his vision for a "radically" changed AIB and promised an imminent injection of fresh leadership.
But despite the many changes facing AIB, Mr Hodgkinson insisted that the bank's "preference" was to remain listed on the stock exchange, even though the Government's stake could soon top 98pc.
AIB was ordered to downsize by €20bn under the latest banking restructuring package announced by the Government, which will see AIB get another €13.3bn in capital.
The bank yesterday said it had selected €25bn of loans to be transferred to a 'non-core' division that would be managed separately to the main group.
Loans
Land and development loans worth less than €20m, some UK loans and other international loans are going into the non-core division.
"The quality of some of the international loans [going into non core] is quite good so many of those will be saleable," Mr Hodgkinson said yesterday.
"We are certainly not depending on run down [customers paying back their loans], we have to be actively trying to meet our deleveraging targets."
The bank has hired London-based advisers to assist on disposals and has already made some "under-the-radar sales".
Mr Hodgkinson declined to comment on the prospect of imminent sales but said they would be carried out in a "timely and determined way" that didn't trigger fire-sale losses.
The bank boss admitted efforts to sell AIB's investment management division to Irish Life & Permanent had collapsed and under-bidders would be given an opportunity to re-enter the fray.
The remainder of AIB will be transferred to a newly created 'core' bank that will have €61bn of loans and a "capacity to meet customer demand" for new lending.
"I don't think anybody needs to be convinced of the need for radical change after the torrid time the bank has been through," Mr Hodgkinson said, promising an imminent shake-up of management and board members.
AIB has been hunting for a permanent chief executive since last autumn and Mr Hodgkinson said he now had a "good list of potential candidates from around the world", including several who had "said they were interested in taking discussions further".
Capital raising
Now that AIB has clarity around its capital raising and future structure, it hopes to be able to appoint a chief executive "by the third quarter".
The €13.3bn of fresh capital includes €11.9bn in equity and a €1.4bn debt instrument. AIB yesterday admitted it had little prospect of raising any fresh cash from the private market.
A decision on what action could be taken to eke capital from the bank's bondholders was a matter for the Government, Mr Hodgkinson said, though many observers believe gains can be gotten from a debtfor-equity swap.
If the bank doesn't get any capital from market sources, the State's stake could rise to more than 98pc.
Mr Hodgkinson said that even if the stake got that high, his "preference" would be to keep AIB on the stock exchange, citing the corporate governance benefits of maintaining a listing.
Staying on the stock exchange would also make it easier for the Government to ultimately sell down its stake, AIB's finance boss Bernard Byrne said.
- Laura Noonan
Irish Independent
Tobia
Forumer storico
zeta59
Forumer storico
grazie Tobia , nel frattempo mi ha chiamato anche la mia banca dandomi un 99,20 in lettera
, dato ordine di acq. a 99 vediamo cosa combinano, sicuramente mi daranno l'eseguito a 99 dicendomi che di meglio non si poteva fare 
, che ci dobbiamo fare son ragazzacci.
Tobia
Forumer storico
grazie Tobia , nel frattempo mi ha chiamato anche la mia banca dandomi un 99,20 in lettera
scusa se te lo chiedo: perchè mai la 464? solo per il fatto che è cumulativa?
zeta59
Forumer storico
Anche se il rendimento della 414 è sensibilmente migliore , la 464 mi piace di più pechè cumulativa e miglior post call che non guasta in caso di incastro , (cosa da non escludere ), dando uno sguardo al grafico ad 1 anno ha toccato i 106 , pertanto a 99 , penso abbia un poco di margine per la risalita . L'altra l'avevo già presa e rivenduta ma aveva fatto 2 punti con molta fatica.
Poi sicuramente c'è chi può smentire le mie osservazioni.
Tobia
Forumer storico
certo, la mia l'ho scelta per il possibile upside nel prezzo, fregandomene del fatto che non è cum
sperem
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