One third of INBS interest was ‘rolled up’

One-third of the total interest earned by Irish Nationwide Building Society (INBS) on its customer loans was rolled up in the form of extra borrowing rather than paid to the society last year, new disclosures have revealed. The society’s annual repor

2nd May, 2009

One-third of the total interest earned by Irish Nationwide Building Society (INBS) on its customer loans was rolled up in the form of extra borrowing rather than paid to the society last year, new disclosures have revealed. The society’s annual report includes several other new disclosures.

* The society recognised so called ‘‘unrealised interest’’ on loans of €282 million last year, representing 33 per cent of the €847million interest earned on customer loans....

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