April 29, 2020 / 2:46 PM / a month ago

Irish banks seeking to extend loan breaks to six months - AIB CEO

DUBLIN, April 29 (Reuters) - Ireland’s five retail banks are working towards extending loan repayment breaks to help customers cope with the impact of the coronavirus to six months, up from the current three months, Allied Irish Banks’ chief executive told Reuters on Wednesday.

“The view of all my colleagues in other financial institutions is that we are going to need a second payment break... What I would like to see, and this is what we’re working towards as an industry, is having a further three-month period to bring us out to the end of September,” Colin Hunt said in a telephone interview.

“We won’t have a good feel for the proportion of people who took payment break one who are going to need support in the second payment break until we see the government’s proposals in relation to the transition back to normality,” he added. (Reporting by Padraic Halpin; Editing by Jon Boyle)

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