Northern Bank pre-tax profits plunge

Northern Bank pre-tax profits plunged to just over £1m (€1.125m) last year after massive provision for bad debt, it reported today.

Northern Bank pre-tax profits plunge
Thu, 05 Feb, 2009 - 09:34

Northern Bank pre-tax profits plunged to just over £1m (€1.125m) last year after massive provision for bad debt, it reported today.

Bad debt provision of some £75m (€84.4m) saw profits of the bank, owned by the Danish Danske Bank Group, slashed from more than £33m (€37.1m) 12 months ago.

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