Staff debts in the banks

Delancey

Has any firm or final figure been put on the amount owed to the banks by their staff ( I exclude the likes of Anglo loans to directors like Fitzpatrick or Drumm ) ?
There has been talk of AIB being particularly exposed by staff borrowing , how will the redundancy programmes in the banks affect these debts ?

I know that one AIB staff member is taking action against them over their refusal to allow her take redundancy on the grounds she would be unable to service her huge loans to the bank , she was not a senior person but was allowed borrow a high multiple of her salary to speculate in property which has now gone tits up.

I wonder will the banks ' grab ' redundancy payments ? Any ideas of the amounts involved ?

GSF

€2.5billion owed to AIB by all their staff according to the Indo's Charlie Weston. Of course not all will be made redundant.

http://www.independent.ie/business/irish/aib-faces-mortgage-timebomb-as-staff-facing-layoffs-owe-2bn-3045039.html

MadsL

Delancey wrote: »

I know that one AIB staff member is taking action against them over their refusal to allow her take redundancy on the grounds she would be unable to service her huge loans to the bank , she was not a senior person but was allowed borrow a high multiple of her salary to speculate in property which has now gone tits up.

Jesus, is there any wonder they fked up so badly employing 'entitlement' heads like this. "Pay me a massive payoff because I took a huge gamble!"

Imagine me going into AIB and asking for a loan to go to Las Vegas. :mad:

jwilco

Yes but you go to Las Vegas and bet on red but the ball lands on black the house doesn't payout. In Ireland we are paying to everyone.

n97 mini

Delancey wrote: »

I know that one AIB staff member is taking action against them over their refusal to allow her take redundancy on the grounds she would be unable to service her huge loans to the bank

Link, or was it some lad down the pub told you that?

Delancey

n97 mini wrote: »

Link, or was it some lad down the pub told you that?

Read it somewhere but no link alas ( not too sure where it was )

It would be interesting to learn the situation in the other banks - the focus does seem to be on AIB though hardly surprising with 7% of the total mortgage book owed by staff.

heyho

Delancey,

I don't see how a staff member of AIB is suing the bank over being prevented from applying for the voluntary redundancy package (which you stated on the 20th May), seeing as the package was only opened for applications today.

:P

I can say that apparently individual staff member's financial situations (including mortgages, loans etc given at staff rates by the staff lending area) is not allowed to be taken into account when the applications for voluntary redundancy are reviewed.