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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.

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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.

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Rónán Duffy

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