€90m loss made at EBS subsidiary
EBS Mortgage Finance Unlimited, which is ultimately owned by AIB, has reported a pre-tax loss of €90 million for 2012.
EBS Mortgage Finance Unlimited, which is ultimately owned by AIB, has reported a pre-tax loss of €90 million for 2012. According to accounts just filed, the bank's loss is mainly attributed to the loss on a sale of residential property loans of €154 million.
EBS Mortgage Finance Unlimited was set up in 2008 as a subsidiary of EBS and the purpose of the bank is to issue mortgage-covered securities, rather than selling mortgages.
Between 2008 and the...
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