Banks thrive on mortgage rates

IRISH banks make more from their personal mortgage customers than any of their competitors in Europe.

A report on the European Retail Banking Sector by Wall Street bankers JP Morgan has found that Bank of Ireland nets €707 a year per mortgage holder while AIB nets €693, more than three times the European average of €221.

The report estimates that the two Irish banks make almost 50% of their profits from their core personal banking profits.