New dip in Bank of Ireland loan default cases

Bank of Ireland has said it has seen a further decline in loan default cases in the second half of this year, with customer deposits also increasing.

The total volume of defaulted loans stood at €16.4bn as of the end of September, the bank said in its latest trading update yesterday. That was down by €1.9bn from the end of June last year, when defaults were at their peak among BoI customers.

In yesterday’s statement, the bank said it only anticipates further improvement on its bad loan levels.