Banking

Structural change ‘imminent’ in banking sector amid rising arrears threat

Delta Capita warned state supports may not be enough to save customers entering arrears in light of interest rate hikes

Delta Capital: Warning comes as the firm has announced plans to double its Irish workforce in the next two years. Picture: Getty

Structural change may be “imminent” within the Irish banking sector in order to save consumers from falling into arrears, Delta Capita has warned.

The capital markets consulting and technology provider said that while the mortgage interest relief measures announced in Budget 2024 will “undoubtedly assist some of those who are struggling”, they may not be enough to prevent others from entering arrears in light of rising mortgage interest rates.

It warned that many experienced banking ...