Below statement from BOI CEO. They will continue to lend to customers if it is in our best interests....Talk about condescending and patronising. You will continue to lend as long as you can make money with minimum risk. So spare us the social conscious marketing spam. Getting sick of banks on TV telling us all they are doing to help people. AIB charged current account fees. They are giving payment breaks which will cost customer more in the long term without impacting their own impairment levels so is not hitting their P&L. They are awash with cheap funding that they are borrowing at less than 0% and still charging among the highest borrowing rates in the EU. They had billions of taxpayers money given to them because they kept lending when it wasn't in their own interests and now they think they can preach to us about only borrowing if it is in our best interests.
And the banks won't decide when the repayment breaks end. She can get right back in her box if she thinks BOI are calling the shots on this.
The chief executive of Bank of Ireland has she does not envisage repayment breaks for borrowers struggling financially because of the Covid-19 crisis being extended beyond the six month agreed by the main banks.
Francesca McDonagh said the sector had been proactive in agreeing payment breaks initially for three months and then extending it to six.
"We need to do that in a sustainable way and I believe the payment breaks give the space for homes and business owners," she told RTE News, following publication of the bank's first quarter results today.
"But the current plan is for those to be up to a maximum six months and then we will be there to help the Irish economy get back on its feet."
She said the bank is continuing to lend to customers who need it where it is appropriate and in their best interests.
And the banks won't decide when the repayment breaks end. She can get right back in her box if she thinks BOI are calling the shots on this.
The chief executive of Bank of Ireland has she does not envisage repayment breaks for borrowers struggling financially because of the Covid-19 crisis being extended beyond the six month agreed by the main banks.
Francesca McDonagh said the sector had been proactive in agreeing payment breaks initially for three months and then extending it to six.
"We need to do that in a sustainable way and I believe the payment breaks give the space for homes and business owners," she told RTE News, following publication of the bank's first quarter results today.
"But the current plan is for those to be up to a maximum six months and then we will be there to help the Irish economy get back on its feet."
She said the bank is continuing to lend to customers who need it where it is appropriate and in their best interests.