| 9.2°C Dublin

ACC Loan Management posted losses of €166m in 2014

Close

ACC Bank on Charlemont Street, Dublin

ACC Bank on Charlemont Street, Dublin

ACC Bank on Charlemont Street, Dublin

After tax losses at the former ACC Bank were €166m last year, driven mainly by write downs on loans.

Rabobank owned ACC Loan Management (formerly ACC Bank) returned its bank licence to the Central bank last year, one of a  number of banks that pulled out of the Irish market in the wake of the financial crash. 

The after tax loss on ordinary activities last year fell to €166m from €290m.Operating income fell to €61.3m from €73.5m in 2013.

ACC Loan Management was sitting on €2bn of loans at the end of 2014, down from €2.6bn at the end of the previous year. It recorded an impairment charge of €190m for 2014, down from €324m in 2013.

Online Editors