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BoI boss defends debt forgiveness stance

Friday, May 09 10:08:22

Bank of Ireland's chief executive Richie Boucher has defended the company's tough stance against debt forgiveness.

In an interview with The Irish Times, Richie Boucher said he realises Bank of Ireland's policy is "not to everyone's taste", but he said every concession of mortgage arrears means someone else has to pay.

He questioned AIB write-offs under its pilot scheme with the Irish Mortgage Holders Association.

"We have been consistent [on debt forgiveness]. I am sure, and I know, that's not to everyone's taste but then again how does debt forgiveness arrive in AIB? he asked. "Is there transparency? Is it some type of a lottery where names are pulled out of a hat every morning? I don't know," the Irish Times article quotes him as saying.