AIB says some customers can avoid home repossession

AIB says half of its customers whose homes are about to be seized in the courts are able to enter a new payment process and avoid repossession.

Executives at the bank have been appearing at the Oireachtas Finance Committee this afternoon.

Head of AIB Financial Solutions Group, Brendan O'Connor says many homeowners engage with the bank only after entering the courts process.

"We're actively seeking an adjournment in 50% of cases where there is a court date because we have had re-engagement," said O'Connor.

"At a certain stage in the process you tend to get re-engagement, certainly after you give the regulatory letters, we get re-engagement again of about 50% at every stage," he said.