Author (Corporate) | European Commission: DG Communication |
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Series Title | Press Release |
Series Details | IP/13/669 (09.07.13) |
Publication Date | 09/07/2013 |
Content Type | News |
The European Commission has authorised changes to Bank of Ireland's second restructuring plan, approved in December 2011, because it considers the changes compatible with EU state aid rules. In the light of various changes in the market circumstances since the 2011 decision, BOI is in particular no longer required to divest New Ireland Assurance Company (NIAC). Such a divestment would negatively affect BOI´s capital and capacity to return to profitability and would slow down progress towards long term viability. To replace this divestment, Ireland has proposed equivalent commitments which will ensure that competition distortions are limited. |
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Source Link | http://europa.eu/rapid/press-release_IP-13-669_en.htm |
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Subject Categories | Business and Industry, Internal Markets |
Countries / Regions | Europe, Ireland |
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