Irish Nationwide did not receive two-thirds of all the interest that it reported as income last year, underlining the financial crisis at the building society.
Instead, it rolled up the interest into extra lending to customers who were not in a position to pay back their loans.
The building society, which last week reported mammoth losses of €2.5 billion for 2009, has disclosed the existence of €324 million in phantom interest - technically known as...
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