National Irish Bank posts €8m loss before charges
DANISH-OWNED National Irish Bank has reported an operating loss before impairment charges of €8 million for the first nine months of the year, a 9 per cent decrease on the same period in 2011.
Costs rose by 44 per cent to €102 million, reflecting a one-off provision for costs associated with the reorganisation of the bank’s retail business announced in June.
Income fell 9 per cent to €94 million due to continued reduced customer demand.
The bank’s total loan book was €7.3 billion.
The Danske Bank Group recorded a pre-tax profit of €847 million for the first nine months of the year, an increase of 76 per cent on last year.
Terry Browne, country manager, Republic of Ireland, said: “The bank’s performance during the first nine months of 2012 was in line with expectations given the challenging economic conditions.”