Labour Party leader Pat Rabbitte has said the High Court inspectors’ report into practices at National Irish Bank paints “a truly shocking picture of dishonesty, tax evasion and theft”.

The National Irish Bank has insisted that the illegal practices outlined in a High Court inspectors’ report today will not happen again.

The High Court inspector’s report into practices at National Irish Bank has found that the bank unlawfully encouraged people to evade tax through bogus non-resident accounts.

The High Court inspectors’ report into the affairs of National Irish Bank is due to be published today.

Ireland’s banks were today accused of “operating like a club” and anti-competitive practices.

The Competition Authority is due to publish a study today on competition in the banking sector.