Business Irish

Monday 19 March 2018

National Irish Bank sees deposits rise

Finbarr Flynn

DANSKE Bank A/S, the owner of National Irish Bank, said deposits are increasing as clients move funds from competitors including Bank of Ireland and Allied Irish Banks.

"Not surprisingly, we have been seeing an increase in our deposits," Simon Fullam, a spokesman for Danske's Irish unit, said, although he declined to give a figure. "Whilst the uncertainty of depositors in the Irish banks is understandable, there are deposit guarantees in place. It is important that people do not get carried away."

Allied Irish Banks said deposits fell 17pc this year. Corporate deposits at Bank of Ireland and Allied Irish have fallen by a combined €22bn since the end of June, according to estimates from Emer Lang of Davy.

Irish Independent

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