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AIB BANK HAS repossessed 17 owner-occupied houses and 21 buy-to-let properties, and has written off debts in a small number of cases.
This is the current number of homes currently in possession of the bank, which said that the majority had been handed over voluntarily.
The numbers were given at a sitting of the Joint Oireachtas Committee on Finance, Public Expenditure and Reform yesterday.
AIB chairman David Hodgkinson said there are 5,000 AIB customers who are working with the bank to deal with their mortgage debts, including in some cases moving to interest-only mortgages.
Mr Hodgkinson said the company was looking at a wide programme to offer customers different options to help keep them in their homes.
He added that the bank was preparing for a possible return to the markets later this year.
Hodgkinson also said that AIB may need to consider paying the bank’s new chief executive €190,000 more than the cap on bank executives’ pay.
The cap stands at €500,000.
Also at the Oireachtas Joint Committee meeting, the chief executive of Bank of Ireland, Richie Boucher, said that he plans to stay on as the bank’s head.
Head of mortgages at BOI, Linda Carraghar, said that there were 3,900 people who are the owner-occupier of their home that have had their mortgage payments modified.
Of this, 95 per cent are meeting interest-only payments at least.
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When people are losing houses worth less than the pay cap for the bank excetives’ yearly pay cap how the hell can they justify looking for almost another 200 grand…AIB, BOI, Anglo etc might want to wake up and smell the bloody coffee…500k is too much as it is as a pay cap….ye messed up this country!!!!!!! Do you not think its a huge insult to look for any more?????????????????
The most important requirement in any CEO is integrity. Anybody that thinks they’re worth more than 500k to run AIB in the current economic climate lacks integrity in my view. Any Chairman espousing a breach of the cap at the same time as outlining the difficulties for individual mortgage holders is removed from reality. The cap should stay.
The cap should be halved and NO bonuses. Well maybe just a turkey and ham at Christmas.!!!!!!!!!!
Don’t tell me i know you get what you pay for highly paid gangsters to do exactly as they did before fuck us backwards again
Can’t believe 13 people gave Laura’s comment a thumbs down!! Shocking to think that anyone would disagree with it!!
Noticed that at the same Committee meeting BOI stated that it wasn’t doing debt forgiveness. Given that the taxpayer, courtesy of Cowen-Lenihan policies, are underwriting bank debt, I was surprised that the politicians on the Committee didn’t light up. Taxpayer is committed to paying off bank debt without a referendum. Banks turn around and stuff taxpayers. What kind of political culture puts up with this drek?
Nice to see AIB let 21 gamblers walk away from their commitments!! Whatever about owner occupied homes these property market speculators should be hung out to dry :-@
What a bulkshit comment Tony. I bought an apartment in 2004 as a pension( I’m self employed) I paid a 10% deposit and my investors stamp duty. I pay tax on my rental income. I allowed for a 20% drop in rent. I didn’t buy to speculate.
If I struggle to pay my mortgage why should I be " hung out to dry" any more than someone who bought a family home they could barely afford?
I thinks thers far more than 5000 on interest only
Give them more money and THEN put a new tax levy for those who think their worth more and have them giving back so much in tax that they will never get more than 500k we might get our money back from the banks someday
The bright sparks
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