BOI posts 1.4 billion in losses

Bank of Ireland has announced losses of 1.4 billion euro for 2012, down from 1.5 billion at the end of the previous year.

The bank's impairment charge fell to 1.7 billion euro, down from 1.9 billion.

Ten per cent of home loans are in arrears - up from 7.4 per cent; whilst 23 per cent of buy to let loans are in arrears.

Bank of Ireland Chief Executive Richie Boucher says the bank is working closely with struggling homeowners: