AIB loses €21m on sale of 119 properties
96 homes were owner-occupied, with the remainder buy-to-let investments
The taxpayer-controlled AIB sold repossessed homes at an average loss of €176,000 to the bank, it has emerged.
AIB lost €21 million on the sale of 119 properties during the first six months of the year. Some 96 homes were owner-occupied, with the rest buy-to-let investments.
The outstanding debt at the time of repossession of the homes was €33 million. AIB raised just €13 million from the disposals. Legal costs reduced the proceeds ...
