BRENDAN McMAHON,
Madam, - The announcement of record profits by the AIB group brings to mind the Voltaire's observation that if a banker leaps from a window, follow him, as there is bound to be a profit in it.
On closer examination it is easy to understand how such profits can accrue when banks are offering deposit rates of less than 1 per cent, yet charging almost 20 per cent on uncleared credit card balances. The AIB group is not alone in this and the similarity in charges by the various banks is striking. Surely it is time for the Director of Consumer Affairs to act in this matter? - Yours, etc.,
BRENDAN McMAHON, Elmwood, Naas, Co Kildare.