Bank chief speaks out after Belfast heist

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

Staff are to receive counselling to help them cope with the ordeal, which involved the families of two employees being held hostage for over 24 hours.

As senior police officers attempted to establish the full details of the heist, Mr Price confirmed about £20 million had been taken.

The Australian owners of the Northern Bank said they would have to bear the cost of the robbery in Belfast city centre.

The National Australia Bank confirmed it had no external insurance policy to offset the losses for the raid.

The owners also insisted the robbery would have no knock on effect for the sale of the Northern to the Danish Danske Bank Group which was announced earlier this month.

It is believed up to 20 people may have been involved in the raid and at this stage, police are not ruling out any paramilitary involvement.

The highly-organised criminal operation began on Sunday night, when the gang took over the homes of bank employees in Loughinisland and Dunmurry, on the outskirts of Belfast and held their families hostage.

Police were also investigating the discovery of a burned-out car in Drumkeeragh Forest, Co Down, between Ballynahinch and Castlewellan last night which they believe may have been used during the heist.