Mortgage repayments only heading one way, warns chief executive

AIB has warned that borrowers will pay more for their mortgages and other loans within the next few months.

Speaking in Dublin yesterday after the bank announced its first ever annual loss chief executive Colm Doherty said the bank was currently paying more to borrow than it was charging its own customers.

Mr Doherty said that situation was unsustainable and if the bank persisted “it would be forced to go back to the state for even greater funding” than is already required to get it out of its current funding crisis.