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The Bank of Ireland on College Green Dublin Paul Seheult/ PA Images

Bank levy will cost Bank of Ireland €40 million a year

The Government estimated that the levy would raise a total of €150 million for the exchequer each year from all Irish domestic banks.

BANK OF IRELAND has estimated that the bank levy introduced by the Government in last month’s budget will cost them €40 million a year.

The levy announced last month by Minister for Finance Michael Noonan was slated to raise €150 million from next year for the next three years from Irish domestic banks.

The individual levies for each institution are will be broadly based on the amount of tax paid on deposit interest in 2011 but this is the first time that any of the banks has put a figure on how it will actually affect them.

In an interim management statement issued this afternoon, Bank of Ireland also said that their loan deposit ratio had reduced marginally in the third quarter of the year, from 121 per cent to 120 per cent.

The group’s net loan volumes at the end of September 2013 were marginally below the €87 billion reported at the end of June 2013 while customer deposits were marginally above the c€72 billion at the same date.

Read: Five Irish banks included in ECB stress-test plans >

Read: ‘My contract has been accepted by government’ – Richie Boucher on his €843k salary >

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22 Comments
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    Mute Paul Heffernan
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    Aug 26th 2013, 10:20 AM

    Mains pipes in Limerick must be in a bad way. I work on the Ballysimon Road in Limerick and the amount of times the mains pipe on this road has burst is nuts.

    46
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    Mute Antonov Merinov
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    Aug 26th 2013, 10:35 AM

    By the looks of that pipe I bet the Romans had a better water supply.

    48
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    Mute Goebong
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    Aug 26th 2013, 10:37 AM

    Well done limerick country council great work getting the water supply back on do quick

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    Mute Carcu Sidub
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    Aug 26th 2013, 12:21 PM

    Goebong.

    Am I reading your comment correct?

    Are you congragulating Limerick CITY council for actually doing the job they are being paid to do?

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    Mute Goebong
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    Aug 26th 2013, 1:51 PM

    Yes they done a great job water back on within hours great job people could have had no water all day

    17
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    Mute Carcu Sidub
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    Aug 26th 2013, 2:06 PM

    Goebung

    Thanks for confirming that we need to congragulate council workers for actually working.

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    Mute Goebong
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    Aug 26th 2013, 2:27 PM

    So what do want to give out to them for doing a good job stop being so negative

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    Mute Carcu Sidub
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    Aug 26th 2013, 3:40 PM

    Goebung

    Dont worry this time next year when their all transfered to Irish Water they will be too busy fixing water meters to have time to fix leaks, then you’ll be giving out.

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    Mute Donal O Neil
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    Aug 26th 2013, 3:48 PM

    It probably was a roman made pipe from roman times

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    Mute Robert Kelly
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    Aug 26th 2013, 12:10 PM

    Is that a stock photo of some pipe that leaked or a photo of water pipes typical of Limerick?

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    Mute Carcu Sidub
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    Aug 26th 2013, 12:23 PM

    Robert

    That is a stock photo. Howeveer it could also be a photo of typical water pipes anywhere in the country. Some water pipes have been repaired so often the councils would have paid 10 times less to actually replace them altogether.

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    Mute Bluemist
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    Aug 26th 2013, 10:37 AM

    That’s the council “engineers” for you

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    Mute Larry T Bird
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    Aug 26th 2013, 1:16 PM

    The pipe wil need to be fixed and stay fixed, as all the wh0res will need their weekly wash after the weekend

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    Mute Donal O'Byrne
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    Aug 26th 2013, 7:51 PM

    I guess the customers don’t wash at all?

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    Mute Ash
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    Aug 26th 2013, 1:52 PM

    Bit of plumbers mate… She’ll be grand….!

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    Mute Donncha Burke
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    Aug 26th 2013, 12:36 PM

    Do they use wooden pipes as in pic?

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    Mute Catherine Sims
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    Aug 26th 2013, 12:49 PM

    Pipes my side spear to burst a lot as well as the water is often off for repairs.

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