Bad loans at Allied Irish Banks this year will be €1bn ($1.5bn) more than previously estimated, it announced on Wednesday, although the lender said most of these bad loans were in a portfolio that is likely to be bought by the country’s “bad bank”, the National Asset Management Agency. In May, AIB said that full-year bad debt charges would run to €4.3bn, but it now says this will be closer to €5.3bn, an increase of 23% – most of which is on a €24bn loan portfolio that is likely to transfer to Nama.

This entry was posted by Gwen Robinson on Thursday, November 19th, 2009 at 4:36 and is filed under Capital markets. Tagged with aib, Nama. Edit this entry.