EBS determined to build niche in marketplace

EBS chairman Brian Joyce told members at today's annual general meeting that the building society is likely to soon be the only mutual building society left in Ireland, enabling the society to differentiate itself in the market.

Joyce said today that EBS was determined to differentiate itself from its peers by not following the current industry trend of letting established mortgage customers subsidise new discount business rates.

Last week, EBS did away with its discount variable mortgage rate for new members and cut its standard variable mortgage rate to 3.25%, which, it says, is the lowest in the market.