ACC Bank losses rise by €150m

ACC BANK claims to still have the full support of its Dutch parent company Rabobank, despite seeing its after-tax loss increase by more than €150 million to €394m last year.

ACC’s 2009 financial figures were published yesterday a day after Rabobank reported a 17% fall in group net profit.

The Irish business bank — which was bought by Rabobank eight years ago and which shed 200 jobs last year — had reported post-tax losses of €242m in 2008.