NIB bad debt provisioning contributes to €661m losses

MASSIVE bad debt provisioning and a sharp fall in earnings have resulted in annual losses of €661 million at National Irish Bank.

NIB bad debt provisioning contributes to €661m losses
Fri, 05 Feb, 2010 - 00:00
Brian O'Mahony

The Danske Bank subsidiary said operating profits fell 42% to €42m in the year to December 31, 2009.

Income fell 13% to €178m and the bank set aside €704m for impairment charges which resulted in the massive end of year loss at the bank.

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CourtsPerson: Andrew HealyPerson: HealyOrganisation: NIBOrganisation: National Irish BankOrganisation: Danske BankOrganisation: Danske
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