Category: Archive
February 16, 2011
By Staff Reporter
Allied Irish Banks caught a chill wind from the east last week, with the news that the bank had euro 643 million in non-performing loans in Poland.
The news comes soon after the Allfirst foreign currency scandal in Baltimore, which lost AIB euro 789 million and seriously damaged its credibility.
In Ireland, loans are considered non-performing if some or all of the loan has not been repaid within three months.
Non-performing loans are often ultimately written off as bad debt. All other AIB non-performing loans in Ireland for the same period, amounted to euro 107 million, while the bank recorded a non-performing loan total worldwide of euro 1.03 billion.