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.

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 chief executive Don Price today spoke of his shock at the £20m (€29m) robbery from the bank’s Belfast headquarters.