AIB sets aside €190m tracker compensation

AIB has set aside €190m to compensate customers wrongly moved off tracker mortgage loans. The bank also admitted 14 people had lost their home as a result of the error.

The bank was one of 15 institutions which wrongly moved upwards of 20,000 people off tracker mortgages onto more expensive loans.

Following a request from the Oireachtas Finance Committee, AIB said that it identified 3,003 of its own accounts affected by the scandal as of December 16 — but admitted the figure may be higher.