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BANK OF IRELAND has completed its €427 million deal to purchase J&E Davy Stockbroker.
The deal was first announced in July last year and sees the lender acquire Davy’s main profit-generating business including its wealth management, capital markets and asset management divisions.
In a statement today Bank of Ireland Group said the acquisition significantly enhances the group’s commercial and strategic objectives.
It said Davy had assets of approximately €20 billion in December 2021, which when combined with Bank of Ireland’s existing Wealth & Insurance assets under management of approximately €22.5 billion, “provides significant scale and breadth of proposition”.
“In addition, the acquisition of Davy enhances the combined services available to the group’s corporate clients, across both companies, and provides further opportunities for growth,” it said. “Along with the KBC Bank Ireland portfolios transaction, which recently received Competition and Consumer Protection Commission approval, completion of this acquisition demonstrates further strategic progress by the group.”
Francesca McDonagh, Group Chief Executive of Bank of Ireland, commented:
“We are delighted to complete this important strategic acquisition and officially welcome the Davy team and clients to the Bank of Ireland Group. As the unrivalled Irish leader in wealth management and capital markets, we are ambitious for the future of Davy within the Group.
“The completion of the deal today represents a fantastic addition to our franchise and business model,” she said.
“Clients from both organisations will benefit over time from enhanced product and service offerings from our businesses, two organisations with long histories of supporting clients across the personal, business and corporate landscape in Ireland.”
Davy was put up for sale last year after the Central Bank of Ireland levied a fine of €4.1 million against the company.
A multi-year probe by the regulatory found four breaches of market rules by Davy between 2014 and 2016 in relation to a transaction involving Anglo Irish Bank bonds.
The scandal led to fierce criticism of the firm, which led to the National Treasury Management Agency removing Davy’s authorisation to act as a primary dealer of Irish government bonds.
- With reporting by Ian Curran.
Labours way or Frankfurts way….. I’m afraid your credibility is in ruins so we don’t know if your telling the truth or not.
Ask the American embassy, Gilmore is always honest with the Americans. It’s just the Irish he has a problem with being truthful.
It’s only our economic destiny when 80% of this bailout loan is paid back we will still be under the cosh till then, which could be in 30 years. This sovereignty sh1te they keep harping on about is a smokescreen for the plebs and there’s loads of us
Now now, Norman – didn’t you hear him say that he didn’t actually say that to the US ambassador?
Seems there is a wikileaks conspiracy against our very own Tanaiste.
Lucinda then you have to believe the CIA was in on it too, the clown is just not that important outside of this country.Even in this country he’s not that important just a mudflap for Kenny.
Norman, read your post so fast I thought you wrote mudflap in Kerry, it did seem as appropiate
The days of good English has went.
That hurts!
That is all corrected now Arthur. Thanks for reading today and have a great day.
Christina
MEEEEEOOOOOOW.
Jog on Gilmore into the history books along with O leary you dirty sell out .I hope your proud of yourself you greedy man.You have put the working classes into the modern day poorhouses.
Why would a GP be paid for a card if it’s not in use?
My GP told me that he gets a set amount per month, calculated by the amount of medical card holders on his patient list, regardless of whether they visit him ten times in that month or don’t visit him at all. I believe it is a nominal fee.
That’s just bizarre.
It’s a totally mad system by the sounds of things. GPs paid for patients that they rarely see or maybe not at all.
Surely the GP could claim an amount from the Dept of Health each month once the patient presents their medical card? Why can’t a system be put in place to automate something like this in this day and age? It would be also easier for a patient to move to a different GP should they wish to do so.
Of course it’s probably too logical to suggest or presume that the medical card be like a credit card and it’s swiped by the GP every time a transaction happens and they merely claim that back off the government. No, they actually get paid for doing nothing? Totally bizarre.
I would imagine it balances itself out. Some people may need to see the doctor every day, with many problems, some of which may be very time consuming, whilst others may only need to see their doctor occasionally . It may work out cheaper for S.P. than paying for each visit.
I’m sure it does balance itself out to some degree but it sounds like a very inefficient and overly bureaucratic system. Also open to abuse and fraud I would think. If the principal of the money following the patient was applied then this system would change. It needs to.
Agree with Reg and Justin. Credit card swipe system with the level paid to each doctor per swipe adjusted to reflect the real demand than just a ‘balancing out’.
That is indeed a very good idea.
Which is obviously why our government aren’t the ones suggesting it.
A bizarre system indeed.
However I think making claims on the amount of cards produced each month would increase competition between GPs trying to get patients. Healthcare would become a business like it is in America; not good!
It would be interesting to give it a go – purely to see how much money is indeed wasted or whether it does in fact balance out.
Relying on set payments regardless of usage could be resulting in higher profit margins for some GP clinics and hampering others (depending on the numbers attending frequently vs infrequently / breakdown of private vs public etc)
It may give the HSE a better idea of which areas need more funding and which do not, which can only benefit them if their aim is universal free GP care.
I’m led to believe by my GPs secretary that the fee per medical card is about 50 euro a year regardless of how many times the holder uses it.
Just another side note – if healthcare does become competitive, it will lead to an imbalance in the system. All the best doctors will be making a fortune and may seize their chance to go into private practice.
This would lead to mediocre and sub standard doctors to deal with medical card holders and the poorer while the wealthy get access to the best care.
Just a thought.
Because “the wealthy” are all skumbags
That’s should be knocked on the head, if someone has a medical card/ GP card you should be able to swipe it and keep records of how often it’s used, meaning that the GP only gets paid when it’s used. Also if records were to show that a card has not been in use over a twelve to eighteen month period a letter should be sent , and if there is no response to the letter cancel the card until such time as the card holder contacts the HSE
Not at all. I have great respect for people who work hard and get what they deserve.
Why was the gambling tax not brought back in,one or two % would have killed no one.Smokers,drinkers pay crazy amounts on taxThere is billions spent on betting in this country every year and theres online betting too.One or two % tax on this would bring in enough to cover the cuts too phone allowance and medical cards for very sick people.
No to online betting tax thank you. Anyway how are they supposed to tax a company that is in gibraltar or Isle of Man.
I take it you are a betting person,easy if they want to do buisness in Ireland you pay your way.What about betting shops, if you can afford to bet 5 euro on a horse you can pay some tax.l dont drink or smoke but those that do pay silly amount of money on tax so if betting is your thing pay some tax on it.
Gilmore you are a liar and a traitor
As Louis might say “The Labour Party – just a bunch of lads and lassies living the dream”!
The dream being that the people of Ireland will have forgiven and forgotten all your broken promises come the next election.
I fear not Mr Gilmore.
No taxing the rich – always those who can least afford it get done over. Gilmore wouldn’t know a difficult budget if it walked up to him and introduced itself! He’s living in a bubble. All of the previous budgets / loan payback schemes & the ramifications of them stay in place regardless. You are a spoofer Eamon – zero credibility – get lost.
And we would believe this known and proven liar why exactly !!!!!!
All politicians are liars.
Yes but gimpmore is the worst kind…..a proven liar!!!!!
“He said that he didnt’ agree with the German Finance Minister’s statement yesterday that “Ireland is okay,” stating, “no it is not”
Must be the first time he disagreed with the Germans since he electioneering and infamous “Frankfurt” gaffe.
He can disagree with the Germans all he wants.But the Germans have been saying since last year there will be no deal on bank debt, Kenny and Gilmore kept insisting there would be.Who do you think is right?
He is saying that is EAMON GILMORE this is the last of the difficult budgets. We hear that will depend on Growth. They are taking a gamble. I understand that they have to take 3 billion Euros from Next years budget so How Can this be the last of the Austerity Budgets.PS they were supposed to take 3 billion this year but they will have to make up for that next year. GOD HELP US IF THEIR PREDICTION ON GROWTH IS NOT AS ACCURATE AS THEY ARE SAYING.
We already know that water charges are coming next year – more Labour lies!
It’s Labour’s way or Fine Gael’s way. The latter always win!
This is the last the difficult budgets… Great English Gilmore
Probably the author
It’s still there-check the last paragraph
To late Gilmore ,you and your cronies had your day,and if I can some how do it ,labour will never celebrate the cen off the men of 1916who gave theire lives for the freedom of Ireland.shame on you.
Maybe to honour the men of 1916 we should actually cancel it until their sacrifice cash be truly honoured
Maybe to honour the men of 1916 we should actually cancel it until their sacrifice cash be truly honoured
Truth
Wasn’t that a sound byte after last years budget?
No, Eamonn, this is not the last of the ‘tough’ budgets. Just the last before the local and European elections – unless of course we have a “supplementary” budget in the spring, which is not beyond the bounds of possibility. Would you please shut up – I am sick of the sound of your voice and the sight of your little porcine features.
Porcine.. love it :-)
Accurate and hilarious..
Hope it’s the last for you and labour too
Maybe it the last sting of a dying wasp, Good owl Eamon Givemore.
Absolute nonsense. We’re not really leaving the bailout at all. We’re just receiving our last payment from it. Next year we gotta go back to borrowing on the markets at higher interests rates, in order to pay back the billions in interest alone on the debts we already ran up. So if we’re borrowing more money at higher interest rates to pay back what we’ve already borrowed, how could we possibly expect to have enough left over for an easy budget?
Hopefully come the next election-Eamonn will be on the back benches playing with his phone along side Alan shatter…
Phone, eh?
Maybe Shatter will find the time to pen another horn-bag novel..
But how has this BUDGET effected you Gilmore? Kenny, and Burton??? Bet you all gained but guess qhat you are all shamed too
I believe you Eamonn….but then i believe in Santa and the toothfairy as well.
Are you really telling the truth Eamonn,if you can predict the future any chance you would give me the lotto numbers
Here you Go,
9-3-15-21-34-42-5
Would you not go to the trouble proof reading the headline?
The last difficult budget for Mr Gilmore and the Labour party!
Gilmore of the late Sinn Fein/workers party/democratic left, is a lying B—–d
Why do people even LISTEN to the shite they PROMISE before elcetions when the answer is always the same LIES we the people have the POWER to SACK ALL THREE PARTIES with the remaining 70% of NO VOTERS so LETS VOTE THEM OUT
Gilmore you inhuman GIT.
If I could remove one person fron dail eireann to better our country it would be Eamon GimmeMore. This man is exactly what’s wrong with Irish politics. He’s worse than half of fianna fail. Wretched weasel who lied to his own people over and over again!
With the national debt at €250 billion to say that this the last tough budget is crazy stuff
How many times has the fat cun# said this
Politicians lie with words; bankers lie with figures.
In the words of Karl Pilkington….’BULLSHIT’….
In the words of Dessie Curley – ‘ME BOLLIX!’
So will we stop gettin any increase in tax next yr and will we all be gettin an increase in wages………
Didn think so so its not the last difficult budget
This muppet told us a few months ago that the Labour party had solved the economic crisis
Is there no end to his talent!!!!
Read my lips! No more tough budgets.
Would I lie you , baby, would I lie to you?
It is for you ya muppet
How can we listen to these people ?? I mean the same parties rushed through laws after Veronica Guerin was murdered…..well let me tell you something the fictional story about gilligan being the killer of Guerin is bull !! What i have been reading and looking over is unreal…….she was murdered by the forces than control this country and it is going to come out sooner rather than later…….for anyone who is sceptical look into the Fr. Molloy murder , this is going to seriously to hit the fan and it will not be pretty !!
red thumb away guys you sure have no idea what is going on…..educate yourselfs !!
Just for the people who believe John Gilligan murdered Veronica Guerin…….THE BIGGEST COVER UP IN OUR NATIONS HISTORY !! Lets just say it goes all the way up our JUSTICE SYSTEM !! Yeah that is right , OUR JUSTICE SYSTEM !! Please for the sake of our nation investigate !!
How can get to the bottom of it when we have morons all over the place ??????????? dear god !!
For the red thumbers what is your argument ?? the mainstream media ?? lol…….seriously ??
Do you know how easy it is to spread information ? mainstream media……how foolish we are !!
Hey even the great Paul Williams has not clue !! led a stray bigtime !!
now that is an irishman http://www.youtube.com/watch?v=_gzE4_-OszY
who would red thumb the great rory ??? a moron for sure !!
yeah keep watching bull on tv ……….X-FACTOR kids lol…….lord help ye !!
mainstream media says JUMP !! How high !! lol…f*** morons !!
JUDGES IN OUR COUNTRY…….KILLED OUR SACRED JOURNALIST !!
anyone in our system have the balls ?
we are surrounded by morons and very stupid people !! it is out !! let the chips for fall where they may !!
Brian Lenihan’s work is complete, we can move on now and rebuild. RIP
Seanie FF’s work was complete on the 29 th September 2009 when they gave the checkbook of the country to the bankers.
Your party destroyed this country and should never be allowed anywhere near power again, but considering the nature of the Irish electorate they’ll be in again in a few years.
Norman are u saying this shower should get another chance?they told us lies after lies can’t see no difference
FF will return to power soon enough. We built this country.
Yeah ff put the debt foundations in this country
Waffling clown
Lol
You built sh*te
I come from a family of ardent FF supporters . I even had relatives who were ministers. Even my dad wouldnt vote ye anymore .
Seanie your right to vote should be suspened until you pass a bloody IQ test
He looks like FFFFFUUUUUUU guy :)
Crimes will increase …period
Where did I hear that before
Gilmore! You’re full if sh*t!!!! You and your party and Finegal are finished as soon we get a chance to vote again!!
John Giiligan me hole !! http://www.broadsheet.ie/2013/08/23/the-troublesome-priest/
And next year he will say the same ting!!!
Chance
What about the secret real cost of public sector salaries and pensions? Particularly politicians and top civil servants whose pensions are based on salaries massively inflated due to “benchmarked” salary hikes in the last few years of work. Paid now from current taxation and unfunded? Would never happen in private sector
Silence about that in budget adjustments! Because of increments public sector salaries are still up despite supposed cuts. No real reductions in HSE administrators, especially those who don’t use computers.
Still CIE subsidy crap.
When will we have proper systems reform and accountability?
It is in its hole the last, wouldnt believe a word out of this spoofers mouth
have your say