166 IBRC loans charged interest rate of less than 1%

166 IBRC loans charged interest rate of less than 1%
920 accounts at the former Anglo Irish bank were charged rates of between 1-1.99%
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 loans amounted to nearly €400 million.

The biggest chunk of loans (2,729) were charged rates of between 2-2.99 per cent. Those amounted to €7.23 billion, the Department of Finance said.

Another 1,568 loans were charged rates between 3-3.99 per cent, totalling nearly €4.9 billion.

Interest rates on other IBRC loans ranged from 4 to 8 per cent.

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