No other bank planning AIB-style debt write-off

None of the other major banks in Ireland are planning on following AIB’s steps and offering customer a debt write-off in limited circumstances.

While all of the main Irish banks are bound by the mortgage arrears resolution targets which force them to offer sustainable solutions to 75% of mortgage holders in arrears by June of this year, none of the other pillar lenders are offering debt write-offs.

A spokesperson for Ulster Bank put it bluntly saying that the bank simply “does not have a policy of writing off debt.”