Readers like you keep news free for everyone.

More than 5,000 readers have already pitched in to keep free access to The Journal.

For the price of one cup of coffee each week you can help keep paywalls away.

Support us today
Not now
Dublin: 12°C Friday 19 August 2022
Advertisement

Whistleblower accuses AIB of cooking the books over bad loans

There have been calls for the allegations to be fully investigated.

Image: RollingNews.ie

THERE HAVE BEEN calls for an investigation after an AIB whistleblower alleged that the bank has misled regulators over its loans that are in arrears.

RTÉ reports that the whistleblower worked in a division of the bank that handles bad loans and that the bank had tried to make progress on restructuring appear better than it was.

Banks are required to set aside funds for impaired loans that are in arrears or that are in danger of falling into arrears.

Speaking this afternoon following the claims, Sinn Féin’s Pearse Doherty TD described the allegations as “extremely worrying” and called for them to be ”fully investigated by the proper authorities”.

“If the allegation is substantiated then there needs to be full accountability and the person or persons responsible for misleading the regulator need to face the full consequences of their actions,” he said.

AIB has said that it has yet to be officially made aware of the allegations.

Making a difference

A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article.

Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

For the price of one cup of coffee each week you can make sure we can keep reliable, meaningful news open to everyone regardless of their ability to pay.

The Central Bank has said that it cannot comment on any specific correspondence but that it has set up an avenue for allegations of this nature to be made and that they are taken seriously when that occurs.

“Any correspondence received by the Central Bank through its protected disclosure channel is treated seriously and examined thoroughly,” a spokesperson for the Central Bank said this afternoon.

Read: Joan Burton says questions about bank debt deal are now redundant >

Read: Man claims government department gave private investigator his personal information >

About the author:

Rónán Duffy

Read next:

COMMENTS (50)