Top Scoring Business Students Awarded for Outstanding Achievement

Four students from secondary schools across the country have been awarded with gold medals for their outstanding achievements in last year’s Leaving Certificate and Junior Certificate business exams.

The winners received their medals as part of the Business Studies Teachers’ Association of Ireland (BSTAI) Achievement Awards, hosted by Banking & Payments Federation Ireland (BPFI) at their offices on Molesworth Street, Dublin. The awards recognise the top scoring students nationally in Accounting, Economics and Business at Leaving Certificate Level and Business Studies at Junior Certificate Level.

The medals were presented by BPFI President Gavin Kelly and Margaret McDonnell, Honoary President, BSTAI.

The winning students were as follows:

Leaving Certificate Business

Student: Ben McDonald
School: Rockwell College, Cashel, Co Tipperary
Teacher: Mr Michael Doyle

Leaving Certificate Economics

Name: Lydia Boyd
School: The Kings Hospital, Palmerstown, Dublin 20
Teacher: Mr Mark Ronan

Leaving Certificate Accounting

Name: Karen Chandrakanth
School: St Angela’s School, Ursuline Convent, Waterford
Teacher: Ms Nora Donovan

Junior Certificate Business Studies

Name: Sean Connaire
School: Colaiste Claregalway, Claregalway, Co Galway
Teacher: Ms Katie Bell

 

For further information contact:

Jillian Heffernan, Head of Communications, BPFI, 087 9016880

Strong growth in mortgage drawdown activity in 2018 but slowdown evident in approvals activity in December

Banking & Payments Federation Ireland (BPFI) has today published the latest figures from the BPFI Mortgage Drawdowns Report for Q4 2018 and Mortgage Approvals Report for December 2018.

The following are the key figures the Mortgage Drawdowns report for Q4 2018:

  • 12,112 new mortgages to the value of €2,635 million were drawn down by borrowers during the fourth quarter of 2018
  • This represents an increase of 17.0% in volume and 18.2% in value on the corresponding fourth quarter of 2017.
  • It also represents an increase of 11.4% in volume and 11.3% in value compared with the previous quarter (Q3 2018).
  • First-time buyers (FTBs) remain the single largest segment by volume (47.5%) and by value (48.0%). Together, FTBs and mover-purchasers accounted for 79.9% of the total value of mortgages drawn down.
  • In total some 40,203 mortgages to a value of €8,722 million were drawn down in 2018. This represents an increase of 19.7% in value and 15.5% in volume  on the total in 2017.

The volume and the value of re-mortgage loans (switching) continue to increase: there were 1,684 re-mortgage/switching loans in Q4 2018 to the value of €398 million. This reflects year-on-year growth of 71.0% in volume and 71.5% in value.

In addition, BPFI also published the latest figures from the BPFI Mortgage Approvals Report for December 2018. The following are the key elements:

  • A total of 2,908 mortgages were approved in December 2018 – some 1,363 (46.9% of total volume) were for FTBs while mover purchasers accounted for 829 (28.5%).
  • The number of mortgages approved rose by 5.9% year-on-year and fell by 29.1% month-on-month.
  • Mortgages approved in December 2018 were valued at €656 million – of which FTBs accounted for €301 million (45.9%) and €220 million (33.5%) by mover purchasers.
  • The value of mortgage approvals rose by 9.6% year-on-year and fell by 26.8% month-on-month.
  • During 2018 a total of 45,656 mortgages were approved to the value of €10,126 million.

Re-mortgage/switching approvals rose on a year-on-year basis – by 52.7% in volume and by 77.4% in value terms.

Commenting on these latest figures, BPFI’s Director Public Affairs, Felix O’Regan, stated:

“A comparison of total drawdown activity in 2018 shows a near 20% growth over 2017. In effect, €1.44 billion more (19.7%) was drawn down in 2018 than in 2017 by mortgage borrowers.  Almost half of this was by FTBs – by far the single largest segment of the market.  Notably, growth was evident across all market segments but particularly among those switching mortgages and FTBs.  While end-of-year approval activity showed some sign of slowdown due to seasonal factors, the indications are that 2019 will see continued growth in mortgage drawdown activity.”

The BPFI Mortgage Drawdowns and Mortgage Approvals reports can be viewed on the BPFI website here.

 

Note: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland.  Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has over 70 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

Contact: Jillian Heffernan, Head of Communications, jillian.heffernan@bpfi.ie 087 9016880

BPFI Statement re Financial Services and Pensions Ombudsman Report

Banking & Payments Federation Ireland (BPFI) notes the publication today by the Financial Services and Pensions Ombudsman (FSPO) of its legally binding decisions reached throughout 2018.

In supporting the work of the FSPO we welcome the publication of these decisions.  Like the Ombudsman, we believe it will play an important role in assisting financial service providers and consumers in both avoiding and resolving disputes.

We believe the work of the FSPO is very important in resolving complaints but also in hopefully minimising the number of complaints that need to be dealt with by the Office.

We welcome the fact that the vast majority of complaints to the Ombudsman were resolved through mediation.

 

Note: Banking & Payments Federation Ireland is the voice of banking and payments and fintech in Ireland, representing over 70 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

Contact: Jillian Heffernan, Head of Communications, 087 9016880 or jillian.heffernan@bpfi.ie

International Banking Group has new Chair

The Federation of International Banks in Ireland (FIBI) has a new Chair in Derek Kehoe, Chief Executive and Head of Country, BNP Paribas, Ireland.  He takes over the reins from Colin Moreland, Managing Director with Citi.

In his role as Chief Executive and Head of Country Derek has responsibility for BNP Paribas’s Corporate & Institutional Banking (CIB) operations in Ireland.  In addition, he has a non-executive and co-ordination role for the bank’s non-CIB activities, chairing the boards of Greenval Insurance, Darnell DAC and Vartry DAC.  He also sits on the boards of BNP Paribas Real Estate and BNP Paribas Fund Administration Services Ireland Ltd.  Derek has amassed some 30 years’ experience in various capital markets, leadership and board roles since graduating from University College Dublin with an honours degree in Pure Economics.

BNP Paribas today employs over 630 people in Ireland.  While the majority of these are in the Dublin Central Business District, the bank’s growing presence in Galway now accounts for over 100 employees.

Speaking on his appointment Derek Kehoe stated:

“I am honoured and pleased to take on the role of FIBI Chair during a complex and exciting time for international banking in Ireland.  The evolving regulatory landscape, Brexit and the soon-to-be-published IFS2025 Strategy necessitate a cohesive and coherent voice from our member banks.  I look forward to working with them and the team in Banking & Payments Federation Ireland during this crucial phase of the development of the international banking sector in Ireland.”

 

Note: The Federation of International Banks in Ireland (FIBI) is affiliated to Banking & Payments Federation  Ireland (BPFI), which is the voice of banking, payments  and fintech in Ireland – representing some 70 member institutions and associates including licensed domestic and international banks and institutions operating in the financial marketplace here.

Single Resolution Board Chair Addresses BPFI Banking Conference

Banking & Payments Federation Ireland today hosted its Risk Management & Supervisory Conference, The Future Supervisory Landscape at the Westbury Hotel Dublin. Among the speakers addressing the conference was Elke König, Chair, Single Resolution Board (SRB) who discussed the most recent developments of the SRB including setting minimum requirement for own funds and eligible liabilities (MREL). Speaking on the key issue of resolvability Ms König said:

Building up sufficient MREL and addressing obstacles to resolvability are essential in making every bank resolvable. The direction of travel is clear and responsible bank managers have not waited and have already started taking adequate steps. Banks themselves are best placed to make themselves fully resolvable and the SRB expects banks to make themselves resolvable so that we can handle failing institutions with minimum impact on the wider economy.’

Also speaking today Sabine Lautenschläger, Member of the Executive Board of the European Central Bank, outlined the supervisory perspective of the ECB.

“Whatever may come in the next years will bring relevant changes and challenges for banks, markets and their supervisors in more ways than one. It will be Brexit and it might be other geopolitical risks, the low interest rate environment and climate change, legacy and maybe future non-performing loans, or technological change, just to name a few. What is important is that banks remain vigilant about the emerging risks, stay agile and adapt their profile accordingly – because what we need in the euro area are strong, resilient banks which can withstand a storm and still serve the real economy.”

Sponsors of today’s event, Mazars, were represented by Pauline Pélissier, Senior Manager, Financial Services Consulting. Speaking on the theme of innovation and its impact on banks’ business and operating models Ms Pélissier said:

“Innovation is exciting as it holds both threats and opportunities for our banking systems. New technologies and data disruption have changed the customer’s behaviour and expectations. Boosted by the regulations, open banking is now a reality traditional banks have to face and forces their business and operating models and culture to change. Innovation and new technologies are appealing but carry their own risks.”

 

For Further Information Contact: Jillian Heffernan, Head of Communications, BPFI, ph: 01 474 8835 / 087 9016880

New BPFI President and Vice President Appointed

Gavin Kelly, Chief Executive Officer, Retail Ireland, Bank of Ireland has been appointed President of Banking & Payments Federation Ireland (BPFI).  He succeeds Jonathon Lowey, Country Manager of Citadel Securities in Ireland, who held the position for the two years 2017-2018. At the same time, Jeremy Masding, Chief Executive Officer permanent tsb, takes over as BPFI Vice President.

Since joining Bank of Ireland in 2007, Gavin has held a number of senior management positions. In his current role as Retail Ireland CEO he oversees the provision of banking products and related financial services to personal, business and wealth management customers across Ireland – including consumer and business lending, commercial and asset finance, and general insurance and the New Ireland Assurance Company.

Before joining Bank of Ireland Gavin held a number of senior product and marketing roles in permanent tsb, and prior to this worked in branch banking and marketing with AIB. Gavin holds a Commerce Degree and a MBS from University College Dublin and is a Certified Bank Director from the Institute of Banking.

Speaking on his appointment Mr. Kelly said:
“I am delighted to be appointed as President of Banking & Payments Federation Ireland. The banking sector is a vital component of a strong economy, and looking to the year ahead – and Brexit especially – our members will rely upon BPFI to have a strong voice on domestic and European affairs.  I look forward to working with Brian Hayes, who will take up the position of BPFI CEO in April, and the current BPFI team during what will be a very important time for the sector and the wider economy.”

ENDS

 Note: Banking & Payments Federation Ireland is the voice of banking and payments in Ireland, representing over 70 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

 

SOLD OUT – Anchoring Good Culture, Ethics and Compliance in Banking

Banking & Payments Federation Ireland (BPFI), in association with Eversheds Sutherland, will host a half day conference ‘Anchoring Good Culture, Ethics and Compliance in Banking on Tuesday 5th March 2019 in The Marker Hotel, Dublin 2.

Following on from the establishment of the Irish Banking Culture Board and the publication of the Central Bank Behaviour and Culture report, the BPFI half day conference on ‘Anchoring Good Culture, Ethics and Compliance in Banking’ is very timely.

Leading speakers and panellists from home and abroad will focus on what banks need to do and are actually doing to develop and embed a better customer-focused culture in their operations.

Bookings
For individual bookings, please click on the ‘Book Now’ button below. For organisations who wish to send several of their team, we are pleased to offer further discounts for group bookings (applicable where all attendees are employed by the same organisation and are registered under one booking):

4 for the price of 3
7 for the price of 5
10 for the price of 7

Check if you are a member here.