AIB: 21 Billion EUR of Customer Deposits Withdrawn in 2010

[Lightning]

The deposit flight from Irish banks continues unabated with the full carnage of 2010 coming to light.

21,000,000,000 EUR of deposits have been taken out of AIB in 2010, according to their own results.

http://namawinelake.wordpress.com/2...-state-bailout-and-this-is-not-an-irish-joke/

Customer deposits fell from €84bn in 2009 to €63bn in 2010, a 25% drop .... As noted on here a couple of weeks ago, AIB is now in the same league as Anglo yet seems to have escaped much of the opprobrium heaped on that bank and its former chiefs, Sean Fitzpatrick, David Drumm and Willie McAteer. And whereas Anglo will be remembered for being the zombiest of zombie banks, AIB is to be a “pillar”.

The vast majority of the decline in deposits took place from July 2010 onwards.

 

[Lightning]

Page 25 of the AIB results makes interesting reading.

http://www.rns-pdf.londonstockexchange.com/rns/7174E_-2011-4-11.pdf

AIB experienced customer deposit outflows early in the first quarter of 2011, these outflows were caused by a combination of cyclical
seasonal outflows and customer withdrawals.

The massive deposit flight is ongoing into Q1 of 2011.

 

[inver]

I would expect that to continue....we are told how bank liabilities are inextricably linked now to our sovereign debt, well the opposite also holds and as long as there is bad news about the State it will knock any green shoots of confidence in the "pillar" banks...i for one will removing what remains of my deposits from AIB.