April 29, 2020 / 11:03 AM / in a month

Ireland's AIB says loan payment breaks jump to well over 40,000

DUBLIN (Reuters) - Allied Irish Banks (AIBG.I) (AIB) has processed “well over” 40,000 payment breaks for its loan customers as it helps homeowners and businesses cope with the impact of the coronavirus, its chief executive said on Wednesday.

Ireland’s retail banks agreed last month to implement loan repayment breaks of up to three months for those affected.

The breaks agreed by AIB include 16,000 mortgages, 12,000 business loans and 12,000 for personal customers, CEO Colin Hunt said.

Hunt told the company’s annual shareholder meeting, which was conducted via conference call, that all aspects of AIB’s business, including its lending criteria, are under constant review given the current environment and that it had a responsibility to be prudent in its lending.

Reporting by Padraic Halpin; editing by Jason Neely

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