Statement re: Capital Position
March 30 2010 - 12:02PM
UK Regulatory
TIDMIPM TIDM74SV
RNS Number : 4580J
Irish Life & Permanent Grp HldgsPLC
30 March 2010
Statement by Irish Life & Permanent Group Holdings plc
(Irish Life & Permanent plc is a wholly owned subsidiary of Irish Life &
Permanent Group Holdings plc)
5.00PM Tuesday 30th March 2010. The Financial Regulator has advised Irish Life
& Permanent plc that a Prudential Capital Assessment Review will be carried out
on the institution over the coming months in the context of the institution's
restructuring plans.
The Group was not included in the first wave of prudential capital assessment
reviews as it has not received a government capital injection and is not taking
part in NAMA.
In advance of that full review, the Group has had initial contact with the
Regulator on this matter.
Based on initial discussions with the Regulator in respect of likely capital
requirements for the Group as currently structured, the Group expects that its
current capital resources are sufficient to withstand anticipated base case and
stress test scenarios; both of which suggest loan losses substantially ahead of
the Group's current models.
Contact details:
Barry Walsh, Head of Investor Relations
Tel: +353 1 704 2678
Ray Gordon, Gordon MRM
Tel: +353 1 6650452
This information is provided by RNS
The company news service from the London Stock Exchange
END
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