# irish bank in trouble?



## johnnyg (24 Nov 2007)

has anyone heard of a major irish bank that is in finacial trouble? Was talking to a bank manager and he mentioned this to me and that he had withdrawn his funds from them, he said it was similar to what happened to NR..just curoius if this rumour is true, he seems to believe it is!!!!


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## sapmanie (24 Nov 2007)

The small matter of asking what bank it was didn't cross your mind?

Don't believe this for a second.


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## johnnyg (25 Nov 2007)

i don't see what he had to gain from telling me, he was just telling me what the state of the banking system is in...he wouldn't tell me the name , so was wondering if he know this information, others must aswell


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## TSThomas (25 Nov 2007)

johnnyg said:


> i don't see what he had to gain from telling me, he was just telling me what the state of the banking system is in...


You mean apart from using FUD to convince you to do business with them as "they" clearly weren't the bank in "trouble"


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## Brendan Burgess (25 Nov 2007)

Anglo publicly commented on the rumours to reassure depositors. They depend less on retail deposits than other banks, apparently. 


Brendan


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## Steve D (25 Nov 2007)

Are you saying that the bank manager thought that his own bank gave such a  bad deal that he banked with another bank? If that is the case, he wasn't showing much confidence in his own bank either!


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## TSThomas (25 Nov 2007)

Steve D said:


> Are you saying that the bank manager thought that his own bank gave such a  bad deal that he banked with another bank? If that is the case, he wasn't showing much confidence in his own bank either!


Or perhaps he reads AAM & follows the Best-Buys threads to get the max return on money held on deposit   Either way you look at it, they're not exactly an objective source.


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## johnnyg (25 Nov 2007)

i wasn't buying anything or he wasn't selling, he was just telling me that there was another NR on the way...yes it doesn't inspire faith with his bank but i don't bank with them anyway..so as i said nothing to gain


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## Sunny (26 Nov 2007)

There are rumours everywhere about most banks in most countries. I doubt a branch manager would have some information about the funding difficulties of a rival bank that the rest of the market hadn't heard.


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## Jethro Tull (26 Nov 2007)

anglo is the name that keeps propping up in any of these conversations I have with anyone working in the banking sector, however they have strenuously denied there is anything afoot. Rumours galore that they will soon approach the central bank for funding.


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## Sunny (26 Nov 2007)

Jethro Tull said:


> anglo is the name that keeps propping up in any of these conversations I have with anyone working in the banking sector, however they have strenuously denied there is anything afoot. Rumours galore that they will soon approach the central bank for funding.


 
Interesting that Anglo had to complain to the regulator saying that hedge funds were shorting their stock and then spreading rumours about their funding profile! I thought there might be some truth in it but I looked more deeply into it and unless they are hiding something, I can't see any looming funding crisis like what hit Northern Rock. Think they release trading statement this week so will see what they have to say.


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## Jethro Tull (27 Nov 2007)

Sunny said:


> Interesting that Anglo had to complain to the regulator saying that hedge funds were shorting their stock and then spreading rumours about their funding profile! I thought there might be some truth in it but I looked more deeply into it and unless they are hiding something, I can't see any looming funding crisis like what hit Northern Rock. Think they release trading statement this week so will see what they have to say.


 
That was one of the strenuous denials they put out (think I read it in the Irish Times about 2 weeks ago).


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## Sunny (28 Nov 2007)

ISTC isn't a bank and I don't remember anyone linking it to Anglo. There were rumours in the market that Anglo were having funding difficulties (unfounded by the looks of it) hence their share price fell and their CDS spreads in the credit markets blew out. Their results this morning look very impressive without having seen them in detail. There are so many unfounded rumours going around at the moment. A few weeks ago, Barclays was supposed to be in serious trouble. Its just the times we live in!


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## TSThomas (28 Nov 2007)

& everyone's happy with Anglo again...

http://www.rte.ie/business/2007/1128/anglo.html

*Moderator note:* individual share price discussion removed. Please read the posting guidelines.


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## Gautama (28 Nov 2007)

sapmanie said:


> The small matter of asking what bank it was didn't cross your mind?


 
No no no, never ask a question like this.
Buy they guy/gal another beer, that's the rule with Barstool Banter.


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