This morning the bank has announced it is reducing its owner occupier mortgage interest rates by one-quarter of a percent from October 1st.
It's the third cut in ten months and its standard variable interest rate now stands at 3.65 percent.
AIB chief executive, Bernard Byrne, says arrears are down but there is still a large section of those customers who are not making payments on their loans.
“We've come from a peak of about 50,000 customers in arrears down to 38,000 at this stage” he said.
“The number of customers who are in long-term position – people who have been in arrears sort of two years, 720 days in arrears – that's 9,000 customers”.
“So that number has been reducing, but it's reducing slowly”.
“Approximately 40 percent of those customers haven't been able to make any payment at all in the last 12 months, so that's a difficult cohort of customers” he added.
