Results show why banks are afraid of writeoff plans

Last week it became clearer why the banks reacted with caution to legislative proposals to include mortgage debt in the government's new bankruptcy and personal insolvency scheme.

12th February, 2012
Results show why banks are afraid of writeoff plans
John Reynolds, chief executive, KBC. Photo: Tony O'Shea

Last week it became clearer why the banks reacted with caution and a perhaps a little fear to legislative proposals last month to include mortgage debt in the government's new bankruptcy and personal insolvency scheme. The mortgage arrears picture is worsening, despite the introduction last year of measures intended to help resolve the problem.

KBC Bank Ireland and National Irish Bank - both foreign owned lenders - each reported an increase in arrears and impairments...

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