Irish banks face long recovery from Covid-19 loan losses as fears grow for branches

The banking sector is unlikely to achieve full recovery until 2024 — but Ulster Bank's departure adds a wild card to the mix

Recovery in the banking sector is not expected to be fully achieved until 2024 — but the sale of Ulster's loan book is likely to be a wild card. Picture: Sam Boal / RollingNews.ie

Recovery from the Covid-19 crisis for Irish banking is not likely to be achieved until 2024, although the carve-up of the Ulster Bank loan books is likely to present "a wild card" for growth for some lenders.                           

AIB, Bank of Ireland, and Permanent TSB will reveal next week the big hit taken in loan impairments from the Covid crisis so far when they publish their 2020 financial figures.