IL&P bad debt warning
IRISH Life And Permanent's bad debt charges for 2010 are expected to increase by between €80-100m compared to its previous estimates, the lender has warned. This is due to the further deterioration in the economy, it said.
The lender said that consensus expectations are now for a delayed recovery in Ireland with modest economic growth in 2011.
The news sent IL&P shares down 4.2pc to close at 90c in Dublin.