Saturday February 22, 2020

AIB rate changes to boost profits will hit borrowers and savers

AIB is planning to raise lending rates and cut the amount it pays on deposits in a bid to return to profit by 2014 and attract new capital investment.

16th June, 2012

AIB is planning to raise lending rates and cut the amount it pays on deposits in a bid to return to profit by 2014 and attract new capital investment, according to a presentation its chief executive gave to the Fine Gael parliamentary party last week.

The state-owned bank, which lost €2.3 billion in 2011, is to reprice its product offerings and adjust lending rates relative to its cost of funds, chief executive David Duffy told the...

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