Ireland business politics Ireland

Bank CEOs to meet Finance Minister over customer support plan

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The CEOs of the five main banks will meet Minister for Finance Paschal Donohoe to discuss a joint plan to provide support for customers affected by the fallout from the coronavirus.

It is understood the plan will include a freeze on loan payments for business and personal customers. The five main banks in Ireland - AIB, Bank of Ireland, Permanent TSB, KBC and Ulster Bank - under their representative body, Banking and Payments Federation Ireland, have all collaborated to come up with the joint-plan to address the financial impact on bank customers.

At its heart is a three month freeze on mortgage and business loans for those whose livelihoods have been impacted by the partial shutdown of the economy.

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