Displaying items by tag: Banque Nationale de Paris

7th March 2011

BoI Shipping Loans Prime Asset for Euro Bank Purchase

Bank of Ireland's €1.4bn shipping loan and maritime business is now being targeted by potential buyers.

The Irish Independent reports that Spanish banking group Santander is interested in "cherry-picking" prime assets from Ireland's faltering financial institutions.

Santander has already paid almost €3 billion for AIB's Polish interest Banco Zachnodi, and now senior bankers believe it may be interested in buying parts of AIB and other Irish bank assets - including BoI's lucrative maritime loans business.

Credit Agricole and Banque Nationale de Paris (BNP) have also shown keenness in Irish assets, though it is thought their interest has cooled due to poor prospect for Ireland's economy.

The Irish Independent has more on the story HERE.

http://www.independent.ie/business/irish/santander-seeks-to-cherrypick-aibs-best-assets-2567661.html

Bank of Ireland's €1.4 billion shipping loan and maritime business is now being targeted by potential buyers.

The Sunday Independent reports that Spanish banking group Santander is interested in "cherry-picking" prime assets from Ireland's faltering financial institutions.

Credit Agricole and Banque Nationale de Paris (BNP) have also shown keenness in Irish assets, though it is thought their interest has cooled due to poor prospect for Ireland's economy.

The Sunday Independent has more on the story HERE.

Published in Ports & Shipping

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About Foyle Port

Foyle Port, located in the North West region of Northern Ireland, is estimated to handle around 2 million tonnes of cargo per year, with a trade value of approximately £1 billion. The port plays a crucial role in facilitating the import of essential agri-products, supporting around 20,000 farms in the region, as well as various local business sectors such as fuel/oil and construction industries. The organisation supports an estimated 1000 direct and indirect jobs.

Originally located in the bustling heart of Derry City, the Commissioners relocated the port to its current deep-water location at Lisahally in 1993. The terminal boasts an impressive 440 metres of quay and can accommodate large vessels of up to 62,000 DWT. Foyle Port is primarily a bulk port and a significant importer of essential commodities such as oil, coal, animal feed, fertiliser, and plywood, all of which are vital for the North West rural region.

Since 2003, the organisation has experienced significant growth, doubling both turnover and profit and attracting approximately £100 million of inward investment to the region. This investment has supported projects, including a fertiliser plant, an oil tank farm, and a biomass power station.

Established by Act of Parliament in 1854, the Londonderry Port & Harbour Commissioners is an independent statutory authority with a duty to develop, maintain and operate to the highest standards of efficiency, financial prudence, environmental awareness, safety, and security. The Port is independent of the Government and is self-financing. All financial surpluses are reinvested in the business for the benefit of future generations of stakeholders.