Business Post's View

Editorial: Questions remain for Central Bank over AIB tracker scandal

The tracker mortgage controversy has exposed the rotten culture that pervaded the bank’s entire organisation

Colin Hunt, chief executive, AIB: apologised for ‘distress and financial losses’. Picture: RollingNews

The history of Allied Irish Banks stretches back to 1825, when the Provincial Bank of Ireland, one of the three lenders that would eventually amalgamate to form AIB, was founded.

In its almost two-century history, the bank will have had few darker days than last Thursday, when the Central Bank of Ireland excoriated it for the “unacceptable levels of harm and loss” it inflicted on borrowers for close on two decades as a result of ...