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Article: Banks face huge market change
- Article from:
- Belfast Telegraph
- Article date:
- November 10, 2009
CopyrightCopyright 2009 Belfast Telegraph. Provided by ProQuest LLC. (Hide copyright information)
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The global economic crisis could have a massive impact on the
banking market in Northern Ireland. While the Big Four -- Ulster
Bank, Bank of Ireland, First Trust and Northern Bank -- may all
survive here, it is far from certain that they will remain the 'Big
Four' over the coming years.
Last week's results from the Bank of Ireland underline the plight
of many of the biggest banks.
It lost EUR 979m (Pounds 877m) in the six months to the end of
September.
Not only this, but the European Commission is considering what
conditions to impose as a result of Irish state support.
This could lead to restrictions on its activities in Northern
Ireland.
Allied Irish, which owns First Trust, will soon ...