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Farmers currently working with AIB to have their loans withdrawn from a loan portfolio to so-called vulture fund Cerberus, have expressed concern that the bank is creating a “smokescreen” to pacify the farm community before the loan transfers are fully executed in June.
“In my opinion, they are not serious in any way about resolving the issue,” one farmer in the Munster region told the Irish Farmers Journal.
The farmer previously called the bank “unco-operative” and showed documents clearly outlining repeated attempts by him to deal with the bank and re-structure his loan over a three-year period.
“The bank has been in contact with us since they told us about the sale but I feel it’s just a smokescreen and they’re not genuine in wanting to resolve the loan issue,” he said.
Up to 100 farmers are understood to have had their loans included in the sale and several have contacted this newspaper since the loan announcement on 1 April to express their dismay with AIB.
AIB declined to specifically comment on the concerns raised by the farmers.
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