IBRC ‘paid €67m for overcharging’

It is understood that compensation of €67m was paid out to IBRC customers who were overcharged by the bank.

The bank undertook a forensic investigation going back as far as the early 1990s and looking at overcharging right up until 2005 to ascertain the extent of the problem and concluded that customers had been overcharged by €43m.

The former Anglo Irish Bank decided that customers should be paid a further €24m in compensation and consideration.