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EisnerAmper Ireland | Banking Ireland

EisnerAmper Global

Banking

The financial crisis has changed the shape of international and Irish banking and consequently banks in Ireland continue to undergo significant deleveraging (primarily via loan book sales) and restructuring.  The Irish State also set up a “bad bank”, NAMA acquired €78 bn worth of property related loans from Irish banks. The biggest buyers of these assets continues to be US private equity.

Our banking team has worked with NAMA advising on the transfer, management and sale of these loans. We also work with Irish and International banks and private equity firms, undertaking due diligence, accounting and advisory services in relation to acquisition management and / or sale of these loans. We also currently second teams into banks to assist with their restructuring.

EisnerAmper Ireland, in joint venture with EisnerAmper LLP, was appointed in September 2014 by the Department of Finance to a panel to advise on financial matters such as the future disposal of the State’s banking sector investments and other ad hoc assignments that may arise from time to time.

Banking advisory services include:

  • Secondments;
  • Secondments to BAU functions within banks;
  • Independent business plan reviews;
  • Financial monitoring services; and
  • Loan book reviews.
  1. Financial monitoring services
  • Collation and reporting to Banks of historic actual and forecasted cash flows; and
  • Analysis and reporting of variances between historic actual cash flows and forecasted cash flows for the same period.
  1. Independent business plan review services
  • Review, analyse, evaluate and report upon high complexity borrower business plans.
  • Evaluation of assumptions underpinning business plans; corporate structure, management and security reviews; assessment of the appropriateness of financial and management information systems; review and appraisal of debt repayment strategies.
  1. Loan book review services
  • Assurance engagements over loan loss provisioning methodologies and estimations techniques.
  • Financial reporting services.
  • Secondment engagements of qualified professionals to undertake loan book reviews on behalf of credit risk departments.

Diarmaid O'Keeffe

Head of Financial Services Partner

Diarmaid is a Partner and Head of the Firm’s Financial Services department.

Diarmaid provides audit and assurance services to the firm’s domestic and international Financial Services clients, including aircraft leasing vehicles, mortgage backed securitisation vehicles, collateralised debt investment vehicles and pension funds.  Diarmaid also leads the provision of the Firm’s advisory services to Irish and international retail banks.

Diarmaid works with the Firm’s corporate clients on pension’s compliance, financial reporting, risk management, internal and external audit and regulatory matters.

As Partner on engagements with both the Central Bank of Ireland and the National Asset Management Agency (“NAMA”), Diarmaid has extensive experience undertaking multiple asset, governance, due diligence and business plan reviews.

Contact
6 The Courtyard Building
Carmanhall Road
Sandyford
Dublin 18, Ireland

Tel: +353 1 2933 441
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