Sparkassen dismisses AIB hidden fees claim
Bank alleged cost of SME loans here offset by ‘arrangement fees’ charged by European lenders
AIB has come under fire for claiming that cheaper European business loans usually have hidden fees.
The cost of credit for businesses here is substantially higher than in the rest of Europe, with average interest rates of 5 per cent compared to the EU average of around 2.8 per cent.
But at the Oireachtas Business Committee last week, AIB’s head of business banking Catherine Moroney said the European banks have a tendency to charge arrangement fees and...
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