Bank raises 2009 bad debt charge by €1 billion

AIB has increased its bad debt charge from €4.3 billion to €5.3bn for 2009.

Bank raises 2009 bad debt charge by €1 billion
Thu, 19 Nov, 2009 - 00:00
Brian O'Mahony

The substantial rise in the provisioning reflects the impact of expected asset writedowns incurred on the transfer of loans to the bad bank, NAMA.

The group had kept its guidance steady at €4.3bn for several months.

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