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Boucher: BoI ahead of targets on arrears

Thursday, April 10 12:25:12

Bank of Ireland has surpassed its targets for customers who are three months or more behind on their home loan with 64pc of them offered permanent solutions against the Central Bank's target of half.

Speaking at a Dail Committee this morning, Chief Executive, richie Boucher, said the bank does write off debt if a customer goes through insolvency or bankruptcy.

During sustained tough questioning from members of the Oireachtas Finance committee, Mr Boucher said: "we are not doing it voluntarily."

Mr Boucher said it was "not a policy or a practice" of the bank to write off debt.

However, he added: "there is a write off if the customer goes insolvent or bankrupt."

Mr Boucher is the last of the four main banks coming before the committee this week.

Earlier this week, it emerged that State-owned banks are set to seize thousands of properties as they work through the fallout from the mortgage crisis, according to figures presented by nationalised lenders AIB and Permanent TSB to the Oireachtas Finance Committee.