AIB: Rate rises 'inevitable'

AIB reported today that it is in the red for the first time with pre-tax losses of more than €2.65bn.

AIB: Rate rises 'inevitable'
Tue, 02 Mar, 2010 - 07:10

AIB reported today that it is in the red for the first time with pre-tax losses of more than €2.65bn.

The bank’s annual report revealed that provisions for bad loans soared to €5.4bn in 2009 – with €3.4bn to be transferred to the Government’s National Asset Management Agency (Nama).

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