IBRC annual report for 2011 - Irish Bank Resolution Corporation ...

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Notes to the financial statements continued55. Parent Bank information on credit risk continuedAdditional information for loans classified as held for saleAsset quality - profile of loans classified as held for saleThe Bank2011Business Residential OtherCommercial Residential Banking Mortgages Lending Total€m €m €m €m €m €mGood quality 7 - - - - 7Satisfactory quality 65 - - - - 65Lower quality but not past dueor impaired- - - - - -Total neither past dueor impaired 72 - - - - 72Past due but not impaired 31 - - - - 31Impaired loans 83 193 - - - 276186 193 - - - 379Provisions for impairment (83) (20) - - - (103)Less:103 173 - - - 276Lending to policyholders in respectof investment contracts (note 40)Total(14)262Provisions for impairment on loansclassified as held for saleThe Bank2011Business Residential OtherCommercial Residential Banking Mortgages Lending Total€m €m €m €m €m €mAt beginning of year346 127 - - 46 519Acquired under the INBSTransfer Order 73 163 - 4 96 336Charge against profits(1) 17 4 - 3 23Write-offs (49) (7) - - - (56)Unwind of discount (9) (6) - - (1) (16)Exchange movements 19 4 - - (1) 22Net transfers from/(to) loans andadvances to customers andsectoral reclassification745 135 22 (4) 34 932Net release on disposal of assetsto NAMA (note 14)(73) (169) (4) - (129) (375)Release on loan asset sales(note 15) (968) (244) (22) - (48) (1,282)At end of year 83 20 - - - 103Specific 83 20 - - - 103Total 83 20 - - - 103Residential lending comprises residential development and residential investment, and incorporates large value developmentand investment transactions. Residential mortgages incorporates owner occupier mortgages and buy to let mortgages.162
Irish Bank Resolution Corporation LimitedAnnual Report & Accounts 2011The Bank2010Business OtherCommercial Residential Banking Lending Total€m €m €m €m €mGood quality 166 13 - 2 181Satisfactory quality - - - - -Lower quality but not past dueor impaired321 46 - - 367Total neither past dueor impaired 487 59 - 2 548Past due but not impaired 351 10 3 34 398Impaired loans 616 235 - 54 9051,454 304 3 90 1,851Provisions for impairment (346) (127) - (46) (519)1,108 177 3 44 1,332Less:Lending to policyholders in respectof investment contracts (note 40)Total(15)1,317Provisions for impairment on loansclassified as held for saleThe Bank2010Business OtherCommercial Residential Banking Lending Total€m €m €m €m €mAt beginning of year5,192 2,477 180 1,285 9,134Charge against profits1,630 643 11 343 2,627Write-offs (6) (11) - - (17)Unwind of discount (131) (59) (2) (18) (210)Exchange movements 31 15 9 9 64Net transfers (to)/from loans andadvances to customers andsectoral reclassification(72) (65) (22) 62 (97)Released on disposal of assets toNAMA (note 14)(6,298) (2,873) (176) (1,635) (10,982)At end of year 346 127 - 46 519Specific 346 127 - 46 519Total 346 127 - 46 519163
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Irish Bank Resolution Corporation L
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ContentsIrish Bank Resolution Corpo
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Chairman’s statementIrish Bank Re
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Group Chief Executive’s reviewIri
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Group Chief Executive’s review co
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Business review continuedIrish Bank
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Board of DirectorsIrish Bank Resolu
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Corporate Responsibility continuedI
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Principal risks and uncertainties c
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Principal risks and uncertainties c
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Report of the DirectorsIrish Bank R
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Corporate governance statementIrish
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Corporate governance statement cont
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Corporate governance statement cont
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OpinionIn our opinion:• the Group
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Consolidated statement of comprehen
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Bank statement of financial positio
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