ACCBank pre-tax profit falls to €43m

PRE-TAX profit at ACCBank fell 36% to €43 million last year.

The fall is a result of one-off costs to the bank which include over €3m invested in IT improvements and €3m costs for severance packages, which was as the result of the closure of 10 units last year.

The bank also in 2006 released an extra €15m into its profit and loss account which was set aside for “specific provisions”.