EBS Building Society reports 2008 loss before tax of €38.2m after bad debts charge of €110m; Chairman and Finance Director resign
Mar 10th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
EBS Building Society today reported total income of €172.3m and an operating profit of €71.8m, before impairment charges, for 2008. The society says it has taken a robust approach to bad debt charges, recognising losses as early as possible and resulting in a charge for 2008 of €110m and a consequent loss before tax of €38.2m. The Chairman and Finance Director have resigned. The society has been provided with cover under the State guarantee for financial institutions.