Bank of Ireland warns it could face €400m repayments in UK car finance redress scheme

Bank of Ireland has warned that repayments to cover the cost of car finance mis-selling in the UK could more than double to €400m. Picture: Jason Alden/Bloomberg

Bank of Ireland has warned that repayments to cover the cost of car finance mis-selling in the UK could more than double to €400m. 

The bank had set aside £143m (€167m) for repayments but now estimates that the provision could increase from £143m to £350m (€400m). The bank had provided car finance in Britain via its Northridge Finance business.