Saturday April 4, 2020

Banks to announce Covid-19 rescue measures

Potential steps include three-month mortgage payment freeze for those under pressure from coronavirus fallout

18th March, 2020
Francesca McDonagh, chief executive of Bank of Ireland, said earlier this week that it was offering businesses emergency working capital, payment flexibility on loan facilities and other reliefs.

The state’s five main banks will today announce support measures to help shield homeowners and businesses from the financial impact of Covid-19.

The chief executives of AIB, Bank of Ireland, Permanent TSB, KBC and Ulster Bank are meeting Minister for Finance Paschal Donohoe this afternoon, after which a statement will be made.

Plans include a potential three-month freeze on mortgage loan repayments, and possibly other personal loans and a freeze on business loans...

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