AIB approves 1,500 business writedowns

AIB has approved writedowns on 1,500 indebted businesses in an effort to sustain small and medium enterprises into the future.

AIB approves 1,500 business writedowns

The head of AIB’s Financial Solutions Group (FSG), Brendan O’Connor, said the bank was engaging in what he called “right sizing”, of the balance sheets that resulted in the bank compromising on debt.

Speaking at the Joint Committee on Jobs, Enterprise and Innovation, Mr O’Connor responded to direct questioning from Fianna Fáil’s Dara Calleary on how many of the 9,000 businesses in the Financial Solutions Group had received writedowns.

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