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FEWER PEOPLE WHO have mortgages with AIB are in mortgage arrears.
The bank, which received a partial bailout from the state in 2009, released an interim management statement today which shows that they are lending more and have restructured more mortgages.
The statement says that mortgage drawdowns in Ireland were around 29% higher in September at around €800 million. UK drawdown levels of €1.1 billion were around 54% higher with increased drawdown activity in the SME and mid-corporate sectors in Great Britain.
The total number of accounts in arrears in the Irish residential mortgage portfolio has declined by 11%, the bank says.
Total accounts in arrears for owner occupier mortgages were down around 15% and arrears levels in the Buy to Let portfolio also declined in the quarter.
AIB says it is meeting its targets in relation to the resolution of SME and mortgage customers in arrears with accelerated progress made in relation to concluding solutions.
They say that the third quarter of 2014 was “profitable and capital generative”.
CEO David Duffy said the company is meeting its strategic goals and wants to generate a return for the State.
“The bank is profitable, generating capital and has the capacity and appetite to meet increased lending demand in the economy.
“Delivering professional service at competitive lending rates to our customers lies at the heart of our strategy while, at the same time, ensuring the bank is generating an appropriate return for shareholders, including the Irish State.”
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99.8% is a partial bailout?
Yay… Let’s get out there and splash the cash.. The good times are back…
Is this good news, I’m not sure, to me it is but I don’t think it will please every one
Certainly not the Shinners. All good news on the economic front they will spin like mad. They’ll be here soon.
I didn’t get to go stone mad the first time, so here I go. I better apply before January or I won’t get as much dollars …. YAY
I’ve a bad feeling about this…
Can they now return our bailout money plus interest?
Shinners will be devastating. Between this a all the jobs they’ll be devastated.
Fewer people are in arrears because short term forbearance has been applied to most people with arrears absorbed for a lot this results in higher payments in the near future so this report would not be entirely accurate…
It could also have something to do with repossessions, reports dose not really go into much detail
have your say