Irish Life & Permanent reports rising mortgage arrears; Loans from ECB at €13.1bn
May 18th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish Life & Permanent said in a trading update this morning in advance of its Annual General Meeting which takes place today at 11.30am in the RDS in Dublin, that residential mortgage arrears continue to increase while demand for new mortgages "has been very subdued" so far this year. IL&P had loans of €13.1bn from the European Central Bank (ECB) at the end of April, compared with €13.8bn at end-December.