AIB Group PLC AIB Group plc - Tracker Mortgage Investigation (9639P)

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RNS Number : 9639P

AIB Group PLC

23 June 2022

 
 23 June 2022 
 

AIB Group plc - STATement on Tracker Mortgage Investigation

AIB Group plc ("AIB") today announces that the Central Bank of Ireland (CBI) has concluded its Enforcement Investigation in respect of Tracker Mortgages at AIB and EBS.

The Group has agreed to pay a fine of EUR96,700,000. This agreed settlement now brings the CBI's investigation into Tracker Mortgages at AIB to a close.

The financial impact of this fine will be an additional charge in the 2022 Financial Accounts as the Bank has already made a provision of EUR70m in relation to the overall Tracker Mortgage Programme in prior years.

-ENDS-

Contact details:

 
 Niamh Hore / Siobhain Walsh              Paddy McDonnell / Graham Union 
 Investor Relations                       Media Relations 
 AIB Group                                AIB Group 
 Dublin                                   Dublin 
 Tel: [phone]   Tel: [phone] 
 email: [e-mail]               email: [e-mail] 
  [e-mail]                  [e-mail] 
 

Forward Looking Statements

This document contains certain forward looking statements with respect to the financial condition, results of operations and business of AIB Group and certain of the plans and objectives of the Group. These forward looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward looking statements sometimes use words such as 'aim', 'anticipate', 'target', 'expect', 'estimate', 'intend', 'plan', 'goal', 'believe', 'may', 'could', 'will', 'seek', 'continue', 'should', 'assume', or other words of similar meaning. Examples of forward looking statements include, among others, statements regarding the Group's future financial position, capital structure, Government shareholding in the Group, income growth, loan losses, business strategy, projected costs, capital ratios, estimates of capital expenditures, and plans and objectives for future operations. Because such statements are inherently subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward looking information. By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward looking statements. These are set out in the Principal risks on pages 28 to 30 in the 2021 Annual Financial Report. In addition to matters relating to the Group's business, future performance will be impacted by direct and indirect impacts of the COVID-19 pandemic and by Irish, UK and wider European and global economic and financial market considerations. Any forward looking statements made by or on behalf of the Group speak only as of the date they are made. The Group cautions that the list of important factors on pages 28 to 30 of the 2021 Annual Financial Report is not exhaustive. Investors and others should carefully consider the foregoing factors and other uncertainties and events when making an investment decision based on any forward looking statement.

Figures presented may be subject to rounding.

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(END) Dow Jones Newswires

June 23, 2022 06:02 ET (10:02 GMT)