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Thread: Irish Banks in 45 percent profit shocker

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    Default Irish Banks in 45 percent profit shocker

    According to the news story below, the Irish banks make a gross profit of 45% of revenue. That ie extraordinary and suggests the firms are setting prices too high and not acting in the interests of consumers.

    http://www.rte.ie/business/2006/0717/banks.html

    The headline says "Irish banks the most profitable in Eurpoe" as though that is a good think (typical of how right wing our society has become).

    It means less for the low-income customer and more for the high income shareholder.

    Not good.

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    I am genuinely suprised that anyone is suprised by this. With regard to "The headline says "Irish banks the most profitable in Eurpoe" as though that is a good think (typical of how right wing our society has become). " I would have to disagree, I don't think anyone out there, actually thinks this a good thing.

    This those lead to the question as to why only RBS have gone in a big way for the Irish market, with majority of the big players sitting on their hands. There is a lot to be said for the view that the international banks view Ireland as a balloon waiting to burst, with the banks far to exposed to property.

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    Quote Originally Posted by jjcarroll
    I am genuinely suprised that anyone is suprised by this. With regard to "The headline says "Irish banks the most profitable in Eurpoe" as though that is a good think (typical of how right wing our society has become). " I would have to disagree, I don't think anyone out there, actually thinks this a good thing.

    This those lead to the question as to why only RBS have gone in a big way for the Irish market, with majority of the big players sitting on their hands. There is a lot to be said for the view that the international banks view Ireland as a balloon waiting to burst, with the banks far to exposed to property.
    Hope you are right about people not thinking its positive. I find people on this site seem to worship profit and care little for the 'small man'.

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    How many times do we need to hear that our banks are scum before we start listening?
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    The banks are not going to go giving free money out...

    Either:

    1) In significantly greater detail than just "45%" prove the case
    (I'm not sure anyone could do this)

    2) Offer, as the nice people in Europe want, some suggestions to make the market more competitive.

    3) Continue whinging

    Hint... the answer is 2 !

    cYp
    "Yawn , am I alive yet ?"

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    Factual
    I find people on this site seem to worship profit and care little for the 'small man'.
    I was watching" oh brother where art thou" last night and your remarks remind me of the guy who had the dwarf on his campaign cos he was for the little man. interestingly he was a member of the KKK in the movie.

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    Quote Originally Posted by stalins granny
    Factual
    I find people on this site seem to worship profit and care little for the 'small man'.
    I was watching" oh brother where art thou" last night and your remarks remind me of the guy who had the dwarf on his campaign cos he was for the little man. interestingly he was a member of the KKK in the movie.
    I am unsure where you are going with this; hopefully somewhere else

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    sorry Factual the phrase just amused me conjured up images of banks discriminating against those under 5 foot 6

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    Quote Originally Posted by stalins granny
    sorry Factual the phrase just amused me conjured up images of banks discriminating against those under 5 foot 6
    OK - fine

    Of course the point I was making was a socialist one. The customers of banks are on average less well off then their shareholders. Therefore our lack of concern for profiteering has adverse distributive consequences.

    Taking money from the poor and giving it to the rich.

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    Factual, that is true but the problem arises then that the pension funds of these "small people" are very often partially invested in banks as most private sector workers have invested pension fund so a catch 22 almost arises.

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