Bank of Ireland chief: No talk of further loan payment breaks

Bank of Ireland is having no discussions about further extending the payment breaks for customers, its chief executive Francesca McDonagh has said, as the lender posted a loss of €235m in a quarter -- even as the Covid-19 economic crisis had only started to bite.

The bank -- which is 14%-owned by the Government -- made a €250m impairment charge for what it calls “a management overlay” to take account of a rapidly deteriorating economic outlook this year, and it expects more impairments but it is not saying what level of charges it expects for the full year.