NIB loss blamed on exceptional items

NATIONAL Irish Bank (NIB) had exceptional items to blame for a €3 million pre-tax loss in the nine months to September, the bank’s new Danish parent said yesterday.

But NIB made profits of €17m during the period before taking a €20m once-off hit from costs associated with the takeover by Danske Bank, which was completed in February this year.

Lending volumes soared 36% on the same period last year, with business lending ahead by 43% and loans to personal customers up by 26%. Danske, which reported a 44% hike in pre-tax profits of nine billion Danish Krone (€1.2 billion) yesterday, said NIB’s business banking units had outperformed the market and had taken market share from rivals, but that growth in retail lending was only in line with other banks.