ACCBank reports big rise in pre-tax profits to €67.3m

ACCBank, a wholly owned subsidiary of Dutch-owned Rabobank, has announced pre-tax profits of €67.3 million for last year against €32.4m in 2005.

Its operating income during 2006 came to €152.8m against €166m a year earlier.

Costs rose by 5% during the year and the cost income ratio came in at 62.7%, high by Irish banking standards.