ACC Bank loses €200m last year

Dutch banking giant Rabobank’s Irish subsidiary ACC Bank continues to struggle to return itself to profitability, reporting a loss of more than €200m for last year.

The bank was hit with an impairment charge of €234m which brought the bank’s total provision for bad loans to €1.2bn.

The losses at the bank increased from €186m in 2011 to €219m last year as the recession continued to impact on the bank.