Sunday June 7, 2020

Pain on the way as banks and borrowers brace themselves

The payment holidays currently offered to mortgage and small business customers until the end of September will be the last blanket forbearance measures put in place for borrowers

Ian Guider

Markets Editor

17th May, 2020
As painful as the impact of the decisions banks will have to make about the viability of customers’ loans, this will not be a pain-free economic crisis for the lenders themselves either

By the end of last week the running total by the main banks from the economic fallout of Covid-19 on their loans books exceeded €500 million. As large as the number seems, it is about to get much bigger in the coming months, as the banks get down to the hard work of quantifying the individual loans that will go sour.

As revealed by the Business Post earlier this month, and confirmed by banks...

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