€310m loss for ACC in final year as bank

In its last year operating as a bank, ACC reported a loss of €310m as a result of its exposure to the property market.

The bank will return its banking licence in June and restructure itself to completely focus on the recovery of its loans before closing.

The total loans advanced to customers at year end stood at €2.6bn, in comparison to the €2.8bn at the end of 2012.