NIB deposits grow by €1.8bn in 3 months

CUSTOMER deposits at the foreign-owned National Irish Bank (NIB) surged by €1.8 billion in the first three months of the year.

This news comes amid speculation bank customers in Ireland are increasingly turning to foreign-owned banks as a place to keep their money.

The bank, which yesterday reported a pretax loss of €161 million for the first quarter of the year said that customer deposits jumped 31% to €5.7bn in the period.