166 IBRC loans charged interest rate of less than 1%

166 IBRC loans charged interest rate of less than 1%

More than 160 Irish Bank Resolution Corporation commercial loan accounts were charged interest rates of less than 1 per cent, according to new data from the Department of Finance.

Finance Minister Michael Noonan said that IBRC’s special liquidators confirmed that accounts with rates of less than 1 per cent were mainly related to distressed loans.

The data also shows that 920 accounts at the former Anglo Irish bank were charged rates of between 1-1.99 per cent. Those...

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