Bloomberg News

IBRC in Talks on Irish Banking Restructuring, CEO Aynsley Says

March 29, 2012

Irish Bank Resolution Corp. is involved in discussions on wider restructuring within the Irish banking system, Chief Executive Officer Mike Aynsley told reporters today in Dublin.

“Unless these banks get in a profitable’ position, they’re ‘‘not going to be able to provide credit,” he said.

Irish authorities are considering moving some bad mortgage loans and tracker loans out of Allied Irish Banks Plc (ALBK) and Irish Life & Permanent Plc, which was once the biggest mortgage lender, according to four people with knowledge of the discussions. The loans may be moved to IBRC, the people said.

To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net

To contact the editor responsible for this story: Dara Doyle at ddoyle1@bloomberg.net


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