# NIB - Deposits Soar 100% in 2 Years



## tomreillly (11 May 2011)

NIB deposits up 31% in last year per Indo report this morning

http://www.independent.ie/business/...e-soon-after-q1-loss-of-euro172m-2643168.html


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## northsideboy (11 May 2011)

They also have a link-up with the Post Office which gives them a large reach country-wide.


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## Lightning (11 May 2011)

[broken link removed]



> However Danske's A-grade ratings, compared to the near Junk status of Irish-owned banks, continued to draw depositors to its Irish subsidiary to the tune of 5.7 billion euros ($8.1 billion), a 9 percent increase quarter-on-quarter.
> 
> *NIB's deposit base is now almost twice as large as it was a little over two years ago*.



Rabo, NIB and NUK are seriously benefiting from the worsening mess that is the Irish banks.


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## jonocon (11 May 2011)

main proble I can see with this that people moving their money away from irish banks to foreign banks is actually making matters worse. I have a substantial sum on deposit with INBS/PTSB and I'm going to leave it there as I don't want to contribute to the problem, it just means it takes longer for us to get out of this mess, and get out we will


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## marksa (13 May 2011)

jonocon said:


> main proble I can see with this that people moving their money away from irish banks to foreign banks is actually making matters worse.


 
How is it that NIB, or indeed Ulster Bank, KBC, or other Foreign-owned banks are making it worse? they are still holding the deposits in Ireland and using them to fund lending in Ireland. It's a little different with NUK or Rabo (I don't believe ACC doess much lending these days!) where they take deposits and gather them up into Group.


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## cremeegg (14 May 2011)

jonocon said:


> main proble I can see with this that people moving their money away from irish banks to foreign banks is actually making matters worse. I have a substantial sum on deposit with INBS/PTSB and I'm going to leave it there as I don't want to contribute to the problem, it just means it takes longer for us to get out of this mess, and get out we will



I admire your sentiment but I would query your logic. 

The governments present policy is to keep on borrowing, i.e. burden our children. Keep in mind they are borrowing to pay public sector salaries and social welfare rates, much higher than in other richer EU countries. Your children will pay for todays spending. This is madness and morally repulsive.

By moving your savings out of the country you reduce their ability to do this. 

The patriotic thing to do may be to send your money abroad at the moment, you can bring it back and invest in this country after the default, when government policy may be on a more sustainable basis


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## TSThomas (15 May 2011)

marksa said:


> How is it that NIB, or indeed Ulster Bank, KBC, or other Foreign-owned banks are making it worse?


Presume they mean that by removing savings from the State / ECB backed banks, they'll need further funding from them to prop them up anyway.


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## lff12 (24 May 2011)

They do have certain advantages over the native banks:

1 They don't charge fees for standard current accounts as long as you stay in the black - unlike the Irish banks which have a series of hoops to jump through
2 Their internet based savings account only penalises you for the month you withdraw - otherwise its 3% internet - unlike almost all of the other banks except for Rabo

The disadvantages for many is that they are relatively small, don't have great coverage out of Dublin, and not handling cash in branch alienated a lot of older customers, many of whom are not price sensitive.


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## lff12 (24 May 2011)

jonocon said:


> main proble I can see with this that people moving their money away from irish banks to foreign banks is actually making matters worse. I have a substantial sum on deposit with INBS/PTSB and I'm going to leave it there as I don't want to contribute to the problem, it just means it takes longer for us to get out of this mess, and get out we will


 
Not really, money lodged with Ulster bank Ireland is probably going to stay in Ireland - to subsidise Irish losses, incidentally.  They are not like US multinationals scooping up tax advantages and repatriating profits, especially as there are no profits to repatriate.

To be honest if it wasn't for them there would be no semblance of "normal" banking in Ireland.  There is no such thing as a basic bank account in any of the native banks, they happily gouge the poorest members of society in order to pay their fat cats.  I stopped banking with Irish banks in 2004, and went from paying huge fees and excessive charges to almost nothing, no thanks to Irish banking.

As for "helping us out", what about the people here who have been truly rogered?  People who've lost jobs, been refused welfare, cannot pay mortgages?  Are they supposed to now bow down to the very Irish banks etc who have been part of the system that colluded in making them pay the price?  I don't think so.

Please remember that there have only been about 2000 job losses in banking, compared to over 250,000 elsewhere.


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