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In February 2008, AIB entered into an agreement to acquire a 49.99% interest in Bulgarian American Credit Bank (BACB), a specialist provider of secured finance to small and medium-sized companies in Bulgaria. [citation needed] AIB later sold its stake in BACB to a Bulgarian private-equity fund for a nominal sum in May 2011. [25]
AIB's condition for the remortgage was that Barclays’ first charge would be redeemed. AIB contracted with Mark Redler solicitor to obtain the first legal charge, and redeem all other charges. Mark Redler sought information from Barclays about the two accounts, but got the figure about one account, and thought this was the total.
On 10 October 2009, the Irish Times reported that Bank of Ireland and AIB could need to raise a combined €9bn as a result of write-downs associated with the transfer of assets to NAMA. [55] The article quotes a Merrion Capital report that estimates that AIB and BoI's equity Tier 1 Capital ratios would fall to 3.3% and 3.5% in 2010/11.
The Equity Release Council is the UK's equity release industry body that sets standards to protect consumers. Its members commit to following a set of five product standards: fixed or capped interest rates (for lifetime mortgages), the right to remain in the property, the right to move to another property, the ‘no negative equity guarantee ...
Seek reasonable diversification in equity capital investment; AIB will not assume management of any entity or enterprise in which it has an investment, except where necessary; Apply sound banking principles, particularly to investments in equity capital; In guaranteeing loans made by other investors, AIB shall receive suitable risk compensation.
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank and international financial institution that aims to collectively improve economic and social outcomes in Asia. [4]
In 2021, Hodge sold this subsidiary to the Reinsurance Group of America, and so exited the annuity and equity release business. However the bank is considering re-entering the equity release market, where it had been the longest established lender in the UK. [3]
Blackstone Credit, formerly known as GSO Capital Partners (GSO) is an American hedge fund and the credit investment arm of The Blackstone Group. [2] Blackstone Credit is one of the largest credit-oriented alternative asset managers in the world and a major participant in the leveraged finance marketplace.