herald

Wednesday 15 August 2018

ACC Bank problems

PROBLEMS at the Irish wing of ACC Bank forced Dutch lender Rabobank to increase the charge it took from its international division by a fifth during the first six months of the year.

Bad debt charges at Rabobank rose to €618m from €569m and at its international division rose by 20pc to €301m.

The bank said "around two-thirds" of this was linked to ACC Bank in Ireland.

Rabobank's first-half net profit increased 13pc and it remained optimistic for the rest of the year.

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