Pressure mounts on Bank of Ireland

Bank chief tells Oireachtas Finance Committee it needs to reduce exposure further and “more quickly”

6th July, 2018
Bank of Ireland chief executive, Francesca McDonagh Pic: RollingNews

Bank of Ireland chief executive Francesca McDonagh told a hearing of the Oireachtas Finance Committee yesterday that the bank would alter its strategy to reduce its level of bad loans as regulatory requirements evolve.

While the majority of Irish banks have engaged in selling off non-performing exposures (NPEs) to reduce their exposure to bad debt, Bank of Ireland has so far avoided this strategy. But with 8.3 per cent of the bank’s loans judged to...

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