Years into the process Bank of Ireland miraculously finds another SIX THOUSAND customers that they wrongly denied a tracker mortgage. Absurd stuff.
Where does this scandal stop? pic.twitter.com/mQfvKFmhXq
— Peter O' Dwyer (@peterodwyer1) November 9, 2017
Bank of Ireland has said the cost of compensating thousands of mortgage customers it overcharged could rise to €200m from €25m after it identified 6,000 new cases.
The affair will curtail the institution’s interest margin by 1 basis point from 2018 onwards, the bank said in a stock market notification.
…In an update to the market on Thursday afternoon, Bank of Ireland said it will set aside a further €150m to €175m in its current fiscal year to cover redress and compensation for the 6,000 new cases.
The bank had earlier set aside €25m to compensate 600 tracker customers it previously identified and another 3,700 customers who had the wrong interest rate applied to their mortgages.