Noonan told BoI it was ‘losing public’ over variable rate

Lender is 14 per cent owned by taxpayers

19th February, 2017
Bank of Ireland chairman Archie Kane

The Minister for Finance, Michael Noonan, told senior Bank of Ireland executives that they were losing the publicity battle by not cutting the bank’s standard variable mortgage interest rate.

Officials from the Department of Finance told the bank’s chairman, Archie Kane, and the head of retail banking, Liam McLoughlin, that the lender, which is 14 per cent owned by taxpayers, was an “outlier” on its interest rates.

McLoughlin responded to...

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