REG - AIB Group PLC - AIB Group plc - Tracker Mortgage Investigation

AIBAnnouncement

23/06/2022 11:15

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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 €96,700,000. 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 €70m 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: +353-86-3135647 / +353-87-3956864                                          Tel: +353-87-7390743 / +353-85-2088343
 email: niamh.a.hore@aib.ie (mailto:niamh.a.hore@aib.ie)                         email: paddy.x.mcdonnell@aib.ie

            siobhain.m.walsh@aib.ie (mailto:siobhain.m.walsh@aib.ie)                         graham.x.union@aib.ie

 

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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