Thursday 8 December 2016

Capita finalises takeover of ACC's loan book

Published 23/03/2016 | 02:30

ACC Bank quit the Irish market in late 2013, withdrawing day-to-day bank services such as deposit and current accounts
ACC Bank quit the Irish market in late 2013, withdrawing day-to-day bank services such as deposit and current accounts

Capita Asset Services has concluded contractual negotiations to take over management of the loan book activities and legacy banking services for ACC Loan Management.

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The new arrangements were effective from the beginning of March with more than 160 ACC Loan Management workers transferring to Capita.

ACC Bank quit the Irish market in late 2013, withdrawing day-to-day bank services such as deposit and current accounts.

The bank, whose parent company is Dutch lender Rabobank, outsourced part of its loan book to Capita.

Robbie Hughes, chief executive of Capita Asset Services and Capita Country Manager (Ireland), welcomed the completion of the negotiations. "It gives me great pleasure to announce the completion of this agreement.

"We have worked very closely with our colleagues at ACCLM over the last two years and I would like to take the opportunity now to welcome them to Capita," he said.

"This deal is the latest in a series of transactions... which underpins our continued investment in this market."

Irish Independent

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