Gildernew: Allied Irish Bank must put needs of customers first as it posts extortionate profits

The Fermanagh and South Tyrone MLA said: "The £845 million worth of pre tax profit made by Allied Irish Bank in 2023 puts an onus on the Bank to reduce the high mortgage interest rates being charged on borrowers.

As workers and families continue to struggle to deal with the cost of living crisis it is incredible that the bank has been able to make such eye watering profits.

In 2021 Allied Irish Bank closed eight branches across the north which has reduced services for customers and led to job losses for staff.

In light of these unscrupulous profits being made by the Bank, AIB should consider reducing the high mortgage interest rates that are being levelled at borrowers and putting them under financial pressure.”

He also called for better savings rates.