Bank of Ireland, Allied Irish Halt Deposit Exodus, Noonan Says
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Bank of Ireland Plc and Allied Irish Banks Plc, Ireland’s two biggest banks, saw their deposits rebound “significantly” after the government’s stress tests last week, Irish Finance Minister Michael Noonan said.
The Irish government last week ordered the two lenders, or pillar banks, to raise as much as 18.5 billion euros ($26 billion) between them following stress tests on the nation’s lenders. Private-sector deposits shrank 9.8 percent in February from the year earlier, the Irish central bank said in March.