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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.