Davy says bad debt losses for the six Irish banks over 2008-2010 will amount to €33bn; Charges at Anglo will be 15% of loans; 22% at Irish Nationwide
Jul 8th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Davy Stockbrokers says in a report this morning that following various results and trading statements, the updated estimate for bad debt losses across the six Irish banks, over the 2008-2010 period is 8.3% of 2008 loans or €33bn. The new impairment estimates range from 1.6% at Irish Life & Permanent (IPM) to 5.5% at Bank of Ireland (BKIR), 8.6% at AIB (ALBK) and as high as 15% for Anglo Irish Bank (ANGL) and 22% for Irish Nationwide Building Society (INBS).