Hi Z
This is the calculation I did before they announced the €300m
Average mortgage : €200k
Average redress: €30,000
Number of borrowers: 6,000
Redress to be paid: €180m
Admin costs: €50m
Additional fine: €30m
Total : €260m
I suspect that the average mortgage might be higher than €200k for this cohort as they borrowed in 2005 to 2008 , i.e. the peak of the market.
But AIB may have other costs e.g. compensation for loss of homes as a result of this.
So while the average might be €30k for the normal redress, there will be a few cases who get a lot more due to stress.
Brendan