Ratings giant Fitch sees Irish bank bad loans rising and State's credit guarantee scheme failing

The main Irish banks are likely to see an increase in non-performing loans this year, according to international ratings agency Fitch.

The amount of non-performing loans on the books of the main Irish banks will increase this year, as Covid supports end, but the impact is expected to be less severe than was the case after the 2008 financial crisis.

International ratings agency Fitch said – as is widely anticipated – bad loan levels will rise as support measures for borrowers, particularly payment breaks, come to an end.