Overcharging costs eclipse AIB’s H1 dealing profits
Dealing profits including forex were down 20% from $49 million for the first half of last year, but even without this downturn, the bank’s dealing profits would have fallen short of the cost of its latest scandal.
AIB has set aside e50 million to cover repayments to clients overcharged for forex deals and for associated costs as a result of an error in the margin rates the bank had notified to its regulator.
Although AIB had charged its clients the market rate of a 1% margin on certain FX
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