Northern Bank facing £75m loss

Bad debt has left the Northern Bank facing potential losses of £75m (€87.14m) for the first half of this year, it was announced today.

While the bank made an operating profit of £35m (€40.7m) in the period, it had to set aside £104m (€120.9m) to cover itself for loans that may not be paid back. Actual losses from bad debt were £3m (€3.5m) for the six months.