anglo takeover of inbs

ranger4

If the reported rte takeover of inbs by anglo goes ahead will the inbs shareholders finally recieve their windfall payment which they have been waiting donkeys years for?

homer911

Surely a case of out of the frying pan and into the fire?

Tarakiwa

ranger4 wrote: »

If the reported rte takeover of inbs by anglo goes ahead QUOTE]

Has the takeover been confirmed yet?

dunkamania

No offical word on it, and if it happens Anglo will be picking IN up for peanuts

ranger4

dunkamania wrote: »

No offical word on it, and if it happens Anglo will be picking IN up for peanuts

So if it does go ahead will the inbs customers which have share a/c qualify for the long awaited windfall, I asked this question 2 times on askaboutmoney.com and got a life ban for it, seems the administrator over there doesnt like people to ask questions about their savings on his site.

El Stuntman

I don't really see the logic in this; one commercial property lending shop (quoted) takes over an unquoted one

you still have two loan books that are a pile of steaming poo to put it politely

no doubt some of our leading analysts will enlighten me with their press releases later

Idu

yeah but it will be much smaller than what was originally estimated

irish_bob

another question for the idiots in here , if anglo take over irish nationwide , will those who have savings in irish nationwide simply have thier savings transfered to anglo irish

bigboots

Lets face it, they are only a bunch of Bankers. Anything they are doing at the moment is simply an attempt to save their own skins. If you have ever tried to deal with them at a business level you would understand. I'm self employed and love working my 80 to 90 hours a week, I completely understand my business and plan for good as well as bad times. This shower have spent the last 10 years playing golf on the backs of their hard working customers and its all just coming home to roust! So when these bunch of Bankers talk of the global credit crises and what it has done to them, remember, their only a bunch of bankers who know nothing of their own business and if I were you I would put my money in the Post Office.

kenco

From what RTE were saying at lunchtime if (big if) the deal were to go through then there would be a payment to the shareholders of INBS (i.e. those with Share accounts). However as the value of INBS has fallen a lot in recent times it will not be the 10-15K previously mentioned or anywhere near it.

Also if Anglo are interested them and there is any sign of a sale then at least one other buyer will come out of the woodwork

andrewdeerpark

This is a crazy deal for IN customers. Win - Win for Anglo though as they get access to all them sucker depositors banking on a windfall payout with their 20K plus accounts to shore up their dodgy balance sheet.

Anglo Irish Bank is a 2 trick pony:

- Irish commercial property
- English commercial property

Take a drive around Ireland and you will see every city, small town, new bypass road and cross road with bundles of empty commercial property / office space for rent & lease with no hope of a tenant or sale.

As regards England they are arguable in a worse position with commercial property oversupply plus all their high street retail giants closing branches and renegotiating their rents downward.

Now they (Anglo Irish Bank) are going to get their greasy paws on all the safe savings in IN. Sort this merger quickly and cook their books before the next AGM showing a healthy balance sheet to placate restless shareholders and credit rating agencies.

The only fools here are the IN depositors who will get pittance for their investment, make no doubt the IN CEO, board and chairman will be well rewarded for their silent compliance.

Only hope here is for the grass roots to get restless and revolt by withdrawing their deposits and venting their anger as loudly as possible in public.

Diarmuid

Anyone here who believes there is a "windfall" in store for shareholders of a bank when being taken over in the current climate must be living under a rock.

andrewdeerpark

I agree a "windfall" unlikely. However this was a lot of depositors motives when banking with IN originally. IN is a small sleepy bank that does not need to rush into a bad deal merger unless we do not have the full picture? And certainly not with Anglo Irish!

dunkamania

kenco wrote: »

Also if Anglo are interested them and there is any sign of a sale then at least one other buyer will come out of the woodwork

You are 100% wrong here, there is no competition for buying assets at the moment, look at all the deals done in the last couple of months.

The rational for the deal is a strong deposit base, plus cheaper funding costs due to Anglos relative strength

Diarmuid

andrewdeerpark wrote: »

However this was a lot of depositors motives when banking with IN originally.

Unfortunately that will count for zero.

ranger4

Diarmuid wrote: »

Unfortunately that will count for zero.

yep, customer getting the **** end of the stick as usual.

Diarmuid

ranger4 wrote: »

yep, customer getting the **** end of the stick as usual.

Why?

stepbar

bigboots wrote: »

Lets face it, they are only a bunch of Bankers. Anything they are doing at the moment is simply an attempt to save their own skins. If you have ever tried to deal with them at a business level you would understand. I'm self employed and love working my 80 to 90 hours a week, I completely understand my business and plan for good as well as bad times. This shower have spent the last 10 years playing golf on the backs of their hard working customers and its all just coming home to roust! So when these bunch of Bankers talk of the global credit crises and what it has done to them, remember, their only a bunch of bankers who know nothing of their own business and if I were you I would put my money in the Post Office.

Wow. Can I subscribe to your newsletter?

kenco

dunkamania wrote: »

You are 100% wrong here, there is no competition for buying assets at the moment, look at all the deals done in the last couple of months.

The rational for the deal is a strong deposit base, plus cheaper funding costs due to Anglos relative strength

Maybe, just a thought on my part but wait and see what happens