As many as 35 per cent of Ulster Bank’s Irish customers who are in mortgage arrears are not engaging with customers or making any payments, the lender’s chief executive Jim Brown has claimed.
Addressing an Oireachtas Joint Committee on Finance, Public Expenditure and Reform, the CEO also said that the bank does not have a policy of writing off mortgage debt.
The bank, owned by RBS, is aiming to be back in profit by 2014 and has reportedly exceed the Irish Central Bank’s 20 per cent target on dealing with mortgage arrears, having arranged solutions for over 30 per cent of its customers in arrears.
Meanwhile, Bank of Ireland claims to have solved arrears problems for 53 per cent of its customers in mortgage debt, but the figure is yet to be verified by the Central Bank.
Chief executive Richie Boucher said the bank can offer solutions to more than 80% of customers in default if they engage with the bank.
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