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ACC BANK ANNOUNCED today that it is withdrawing from providing standard banking products, such as deposit accounts and current accounts, to focus solely on debt recovery.
In a statement, they added that during 2014, the bank will close all its business centres to the public and intends to give up its banking licence.
It will however continue to be a regulated entity and said it will support its customers in the agriculture sector, “given its strong heritage in this area”. All funds on deposit with the bank will be repaid in full.
Staff reduction
As part of the restructuring there will be a reduction in staff numbers of up to 180 employees. The cost reduction programme will be introduced through a voluntary-led severance programme. Currently staff levels are at approximately 470 employees.
Kevin Knightly, Country Manager, said ACCBank had incurred significant losses since 2008 due to the deterioration of the Irish property market.
“While costs have been cut significantly, including a substantial restructuring programme in 2009, we are heading towards a situation where, without intervention, our costs will exceed our income during 2014. This is an unsustainable position and we need to take action now,” he said.
ACCBank siad it is exploring the possibility of outsourcing a small portion of its loan book, excluding agricultural loans.
Under the bank’s restructuring, there will be no changes to the businesses of Rabobank Ireland plc and RaboDirect, two other operations of the Rabobank Group in Ireland, and they will continue to operate as usual with no impact on their customers or businesses as a result of this restructuring.
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Sad for his next of kin and friends. Rest in peace.
That’s very sad may he rest in peace.
sad way to go.
@Minom Pnnomm: why any sadder than any other it’s still the end we will all get there
@bmul: and Elvis made dying in the jacks cool..
@bmul: does everything have to turn into a stupid argument on here with stupid comments
@Kieran Stafford: Yes.
@Kieran Stafford: what argument?? Think your reading to much into a few comments
@Martin Flood: No it doesn’t.
@bmul: At least he was found
Condolences to the man’s family and friends and also to the staff who found him. The heartless fools quota has hopefully reached its limit here on the journal. Is there such thing as respect any more? Lots of love, ironballs2016.
Man passing away in airport’s toilet and it is not suspicious??
@Tomek Olo Łęcki: a heart attack is not suspicious…
@Tomek Olo Łęcki: yes people die all the time. It’s a fundamental constant. You don’t get to choose the time or the manner of your departing or indeed your last known good location. Ask not for whom the bell tolls; it tolls for thee.
@Sean:
Actually if you want to choose the time and location of your death you can do so. Also, you can increase the likelihood of your death with your actions.
@Nick Allen: dammit you’re right on all counts! I was thinking about the spontaneous kind of death though. Hadn’t considered the other.
@Tomek Olo Łęcki: bloody 70 year old man with underlying condition, have bloody heart, there not always drug mules
Must have a terminal illness
I always wondered why they were called “terminals” ….. Too soon?
@Ricardo Shillyshally: No, just too stupid
Just like Elvis
@John Culhane: Did Elvis died in the toilet?? I didn’t know that. I am a retired Nurse….that actually does happen to a lot of ‘heart patients ‘. They feel the need to ‘go to the toilet’ prior to a heart attack.
God rest Him.
@Vera Dawber Power: he did indeed and fell on to the floor
RIP
Dideediethoughdidee.
have your say