News

Ulster Bank confirms exit from Irish market

Ulster Bank has announced a phased withdrawal from the Republic of Ireland over the coming years that will be managed in an “orderly and considered manner”.  The bank, which is owned by UK lender NatWest, has 1.1 million customers here, along with 2,800 staff in 88 branches around the country.  Its Northern Ireland unit, which also […]

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Central Bank expects ‘speedy’ resolution of business interruption claims

The Central Bank has contacted a number of insurers on resolving relevant business interruption claims in a ‘proactive and speedy’ manner. It comes as the bank continues its supervisory examination of business interruption insurance issues and in the wake of the recent judgement from the High Court against FBD. The court ruled in favour of […]

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Bank of Ireland to refund 35,000 mortgage customers

Bank of Ireland is to refund tens of thousands of its mortgage customers after it discovered that it had overcharged them. Around 35,000 accounts were impacted by the error that arose when repayments were miscalculated by the lender. “This meant that they were paying on average 80c extra each month and the average total reimbursement […]

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Irish online retail sales soar by 159% in 2020 – Wolfgang Digital

Irish online retail sales grew by 159% in 2020, according to new figures from digital agency Wolfgang Digital, up from average annual growth of 32% between 2017 and 2019. Wolfgang said the trend was revealed after analysis of over €0.5 billion of online spend, an estimated 7% of the total Irish e-commerce market size. Today’s […]

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European new car sales drop by 25.7% in January

European car registrations dropped in January, industry data showed today, as measures to restrict a second coronavirus wave hit sales in the region’s largest markets.  New car registrations dropped by 25.7% year-on-year to 842,835 vehicles in the European Union, Britain and the countries of the European Free Trade Association (EFTA). This is according to figures from […]

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Donohoe says public finances still within overall budget

The Minister for Finance, Paschal Donohoe has said the public finances are still within the overall budget published last October. However, he said if current programmes to support incomes and businesses during Covid-19 are extended “well into 2021” then “much or all” of the contingency funds set aside will be used up. The Minister said decisions will be […]

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Job postings continue to grow, still down 24% – Indeed Ireland

Job postings on Indeed Ireland were down 24% in early February compared with the same time last year, according to new research from the jobs website. However, despite the ongoing lockdown, the figures show that listings continue to grow and have not returned to the low of -54% last June. The study reveals growth right across […]

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Covid supports to extend beyond March, says McGrath

The Minister for Public Expenditure and Reform has confirmed that the various pandemic supports will be extended beyond the end of March. Speaking on RTÉ’s News at One, Micheal McGrath said the Government will set out its new plan next week as regards Covid-19 and “a line of sight” for people, businesses and households in relation to the […]

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Banking Federation critical of capital reserve rules

The banking industry’s representative association, Banking and Payments Federation Ireland, has published a report claiming Irish banks are forced to hold three times the amount of capital as its European counterparts. The federation (BPFI) says this is adding to the cost of lending and mortgages here. When a bank makes a loan or sells a mortgage […]

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3,666 decrease in PUP recipients over last week

Almost 477,700 people are set to receive the Pandemic Unemployment Payment this week – a decrease of 3,666 over the last week, according to the Department of Social Protection. Meanwhile the numbers claiming the Covid-19 Enhanced Illness Benefit fell by 34% over the last week – from 7,149 to 4,707 – reflecting the drop in […]

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