AIB We have won the Prevailing Rate issue

Brendan Burgess said:
Statement released by AIB this morning.

AIB GROUP PLC – TRACKER MORTGAGE PROVISION UPDATE

AIB Group plc (“AIB”)advises that following a preliminary decision issued by the Financial Services and
Pensions Ombudsman, the Board understands that redress may be due to a previously identified group of
customers who had an option of a prevailing tracker rate.

The Board recognises that there is a range of possible outcomes and has created a provision of €300 million
which will be taken in full year 2019 financial results.

The Board also recognises it is in the interests of the
Group, our customers and our other stakeholders to bring this matter to a resolution and discussions are
ongoing with the Central Bank of Ireland with regard to potential appropriate treatment of this group of
customers.


-ENDS-
4 FEBRUARY 2020
Click to expand...

Well Well. Great news. Well done to the boss man and all who have fought the battle.:):)
 
Stunning result, Brendan. I'll not believe it until AIB cough up the cheque right enough. I must admit I had lost hope and switched to BoI last year to be rid of AIB from our lives. I couldn't face even the logo on their letters after what they put my family through.
I'll be listening at 1050!
Thanks so much for your massive effort and time spent on this.
 
Well done to all Involved and a huge thanks to Brendan for his tireless efforts in this, at one stage I nearly gave up myself but he never even thought about it. I bounced into work this morning . I may even buy you a pint Brendan, just the 1 mind!!!
:):)
 
What news to wake up to! Thanks a million Brendan for all your guidance along the way, really appreciate it!

Anyone know what the next steps and timings are?
 
Thank you so very much Brendan. I hope this all works out for us now. I feel that this is the first time I have been able to take a deep breath in the last ten years from the utter stress of all this.
 
Amazing news. Thank you so much Brendan for all your hard work and effort. This result would not have been achieved with you. Thank you to all the lads who got involved on our behalf also. It is a great morning indeed for all!
 
Brendan & Co

Thank you all so so much for all your advice on how to tackle the redress- only for you we would never have gotten this far. Amazing work!
 
Brilliant, thank you Brendan and everyone on this forum for keeping up the fight to AIB, fantastic news, just after buying a family home and this will help a lot.
 
Undoubtedly this is great news and I’m delighted the Ombudsman ruled in favour of this group but it’s a somewhat strange way of news breaking, via an AIB provision media release.

FSPO has obviously made a number of preliminary and final decisions yet not a single comment from them.
 
Brendan, thank you for your hard work - we are indebted to you!
regards timing- is it likely this will be further dragged out?
 
I can’t believe this! Well done to all of those whom have put in so much time and effort over the last few years.
We sold our house just a few months ago. i wonder how that will impact things I’m sure others in same position. I used the €1650 to get legal advice along with the group on here but didn’t go any further as was so deflated from the whole thing and we were under pressure to move house
 
I think everyone needs to cough up a few bob now to erect a statute to St. Brendan! Underneath will read the description...…………..
"lest we forget"

In all seriousness, well done Brendan.

Well done to the Ombudsman also.


Doesn't this show how absolutely toothless, rudderless, inept the Regulator was in all of this?
 
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