BoI capital 'only adequate', says S&P
Hopes that Bank of Ireland might be in a position to put its troubles behind it after its recapitalisation is completed took a knock on Monday with a lukewarm assessment from Standard & Poor's. The agency said that the bank's capital would be “only adequate”, even after the process. It also added that funding was the Achilles heel of Allied Irish Banks.
S&P's assessment was driven by asset sales potentially taking place below book value and the agencys higher risk weighting calculations on Irish exposures following country score changes earlier this year.
The agency noted the same points on Allied Irish Banks, but said that this bank's adequate capitalisation was
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