ACC Bank expects to net €7 million from latest round of branch disposals

DUTCH-owned ACC Bank is continuing its disposal of Irish bank branches in 2010, it has just confirmed at year’s end.

It expects to net €7 million from the latest round of disposals, made up of 10 freehold branches, and nine other leases.

It follows a 2009 offer of eight other ACC branches, with five sold, giving the bank around €6m in sales, including one of the year’s very few commercial property auction successes, 41 South Mall in Cork which made €1.65m under the hammer with joint agents KMS and HWBC.