Sub-prime lending storm ‘will not affect Ireland’

The sub-prime lending storm which has hit the US market will not reach our shores, according to IFG chief executive Mark Bourke.

7th April, 2007

The sub-prime lending storm which has hit the US market will not reach our shores, according to IFG chief executive Mark Bourke.

The financial services company is seeing strong growth in its ‘‘non-conforming’’ mortgage business, with cheques worth €224 million issued by this division in 2006,compared to €94 million in the previous year.

But Bourke insisted that there was no comparison between sub-prime lending in Ireland and the US. ‘‘In this...

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