ACC Bank still battling effects of collapse

ACC Bank, subsidiary of the giant Dutch Rabobank, says it is still battling the difficulties caused by the collapse of the Irish property market to which it had significant exposure.

Its results for 2010 show a loss on ordinary activities before tax for the year of €234m which represents a significant improvement on the 2009 outcome when losses of €405m were incurred by the group.

Bad debts were also down at the group from €383m in 2009 to €263m last year.