Ruth Coppinger
Question:234. Deputy Ruth Coppinger asked the Minister for Finance the value of outstanding commercial property loans owed to Irish banks; and the Irish banks in which the State has a shareholding. [34546/17]
View answerThursday, 13 July 2017
Questions (234)
Written answers
The Central Bank of Ireland publishes a wide variety of statistics, the data is however, provided on an aggregate basis and does not include loan exposures outside this jurisdiction. Table A.14 of the Central Bank of Ireland’s Business Credit and Deposits statistics relates to the Deputy's question and provides information on bank credit advanced to Irish resident private-sector enterprises, by sector of economic activity. Item 11.2 ‘Property investment/development of commercial real estate’ provides data on credit advanced for the purposes of property investment/development of commercial real estate.
The overall outstanding amount of commercial property loans reported by the Central Bank at end March 2017 was €8.82 billion.
In terms of definition, activities covered by this economic sector include; the buying and/or development of land zoned for commercial property which is pre-let or pre-sold; projects where in excess of 75 per cent of floor space is commercial real estate; funds advanced to counterparties whose primary economic activity was not in real estate, land and development, but who are using the funds advanced for this purpose; and lending related to both green field and brown field commercial real estate sites with contracted rental income.
Other types of property lending that may include commercial property, would be item 11.3 ‘Property investment/development of mixed real estate’, 11.4 ‘Investment in unzoned land’ and 11.5 ‘Other real estate activities’. There is a further €3.15 billion outstanding for these sectors as at end-March 2017.
Please note these data relate to all credit institutions resident in Ireland, a full list of which is available here.
In respect of the Irish banks in which the State has a shareholding, loan exposures can be found published in each of the institutions financial statements. The published data is classified or categorized differently by each institution and unlike the Central Bank data includes loans by their overseas operations. Links to the relevant financial statements and the relevant pages are detailed below.
AIB - 2016 Annual Report
https://aib.ie/content/dam/aib/investorrelations/docs/resultscentre/annualreport/annual-financial-report-2016.pdf
Relevant page - 119
PTSB – 2016 Annual Report
http://www.permanenttsbgroup.ie/~/media/Files/I/Irish-Life-And-Permanent/Attachments/pdf/2017/ptsbgh-full-year-report-2016.pdf
Relevant page: Note 18 – Page 147
BOI - 2016 Annual Report
https://investorrelations.bankofireland.com//wp-content/assets/BOI-Annual-Report-2016.pdf
Relevant page – 92