Citibank Europe has been fined €1,330,000 and reprimanded by the Central Bank of Ireland in respect of six breaches of its Code of Practice on Lending to Related Parties. The Code requires credit institutions, including banks and building societies, to have the proper systems, controls, independent oversight and regulatory reporting processes in place to support…

Irish accountancy firm Smith & Williamson has announced its merger with  Dublin-based firm LHM Casey McGrath, creating a total workforce of 135 people based in its two Republic of Ireland offices. The merger positions Smith & Williamson in the top tier of accountancy and financial services businesses in Ireland. It also achieves a key strategic…

The Central Bank of Ireland has published its latest quarterly bulletin showing that household debt as a proportion of disposable income has fallen by 79.2 percentage points since its peak in Q3 2011. The latest statistics also show: Irish household debt as a proportion of disposable income fell by 9.7 percentage points over the year…

Latest Irish residential mortgage arrears & repossessions have shown that mortgage arrears have continued to fall according to latest statistics released by the Central Bank of Ireland in Q2 2018.  The number of accounts in arrears over 720 days continued to fall, and Q2 2018 marked the twelfth consecutive decline.  Accounts in arrears over 720…

The Central Bank of Ireland’s latest money and banking latest statistics from July 2018 indicate that loans to households for house purchase increased by €63 million on a net basis in July. The annual growth rate continues to trend upwards, rising to 0.8 per cent in July, representing the ninth consecutive month of positive growth.…

Debt Purchaser, Intrum has announced that it is reorganising its regional structure combining Spain, Portugal and its newly acquired unit in Brazil, communicated in the Interim Report 24thof July, into a new region to be called – Iberian Peninsula and Latin America. The new Intrum region takes shape based on the strong cultural, historically and…

The Central Bank of Ireland had released its latest credit and debit card statistics for Q2 2018. The figures show that the total number of debit cards in issue rose to over 5 million in June 2018, the highest number since the series began in January 2015, although approximately 685,000 of these debit cards are not…

Vasileios Madouros has been announced as the Central Bank’s Director of Financial Stability. Announcing the appointment, Deputy Governor Sharon Donnery said: “I am delighted to announce Vasileios as the Central Bank’s new Director of Financial Stability. He brings extensive experience in risk assessment, the development and implementation of macroprudential policy, and stress-testing. His technical knowledge…

Three Irish Credit Unions in South Dublin have announced that they will merge in a move that will create one of the top 10 community lenders by size. The merger of Capital, Francis Street and St Kevin’s has been ratified and means that the new combined entity will have 48,000 members. Capital has already taken over…

Irish bank permanent tsb (PTSB) has announced that it has agreed to sell a Non-Performing Loan (NPL/) portfolio to retail credit firm Start Mortgages DAC supported by LSF Irish Holdings 97 DAC, both affiliates of the Lone Star Funds. Start Mortgages has been authorised by the Central Bank of Ireland since November 2008 and will become the…