AIB expecting more loan losses this year
Published 30/11/2011 | 14:27
ALLIED Irish Banks will have to set aside more cash for loan losses this year with a growing number of its business and personal customers running into difficulties.
It added in a trading statement that mortgage arrears have also increased for both AIB and EBS.
The bank has enough capital following the injection of cash by the government so it can meet targets set by the EU/IMF/ECB troika but is continuing negotiations on job losses.
AIB announced earlier this year that it was planning 2,000 redundancies.