DUBLIN, Ireland, June 12, 2003 (PRIMEZONE) -- Allied Irish banks, p.l.c. ("AIB") (NYSE:AIB) has announced a 0.8% reduction in its business lending rate and a 0.6% reduction in its personal loan rate. The new rates are 8.5% for business loans and 9.45% for personal loans.
Overdraft rates have also been reduced with the business rate falling 0.3% to 8.6% and the personal rate falling 0.3% to 10.7%. On Tuesday 10 June, AIB announced a 0.38% reduction in its variable mortgage rate. The new rate of 3.3% is the lowest in the market. All these rate cuts are effective from Monday, June 16.