Can banks find a way to solve credit conundrum?

Until credit growth eventually begins again, the banks have little choice to cut back – something which suits neither them nor the economy

1st November, 2020
Can banks find a way to solve credit conundrum?
Bank of Ireland’s cost-cutting plans were in train long before Covid-19 hit the economy

At the beginning of this year, a number of banks began to look at their options for removing the remaining trouble spots in their loan books.

Permanent TSB, which once had the biggest level of non-performing loans in the country, decided to write to its buy-to-let mortgage customers. Such loans were taken out by those wanting to become mini-landlords, paying interest only, with the capital amount due in the future.

The bank‘s letter was a...

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