Sunday October 25, 2020

BoI pocketing 50% over cost on rate hikes

Bank of Ireland is pocketing more than a 50 per cent premium above market cost on the interest rate hikes it announced last Friday.

13th August, 2011
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Bank of Ireland is pocketing more than a 50 per cent premium above market cost on the interest rate hikes it announced last Friday.

The bank announced it was raising the interest rates across its lending products range by 0.5 per cent to take account of European Central Bank rate increases in April and July of this year.

However, the standard reference for a bank’s cost of funds - the 3 month Euribor rate - has come...

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