Davy to provide €35 million to Irish credit unions to cover losses on investment product; Hopes to recover cost when financial markets rebound
May 13th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Davy, Ireland's biggest stockbroking firm, has offered to cover losses of €35 million, incurred by Irish credit unions on investment bonds bought from it before the collapse of the global markets. It hopes it will recover the cost of the bail-out when financial markets rebound.