EBS hands back €20m to customers

THE EBS had good news for its customers yesterday when it said it handed back over €20 million last year in the form of lower borrowing and higher deposit rates.

But it warned bank customers they were throwing away almost €120 million each year by paying higher mortgage rates than they needed to.

The society, which operates on a different basis from plcs in that its activities aim to maximise the benefits for its customers, yesterday reported a strong performance for the year to December, with new lending up 26% and savings inflows almost three times the previous year’s level.