Of Special Interest


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29th June 2012

Danske calls time on National Irish

Danske Bank is reported to be closing all but one of the National Irish Bank branches in Ireland. The reports did not make clear whether National Irish was still accepting new business.

Write-offs 2008-2011 were DkK16bn (€2.2bn £1.7bn $2.7bn ¥212bn Y17.0bn) and the bank is expected to write off at least one third more. Danske Bank purchased National Irish Bank and Northern Bank (based in Northern Ireland) from National Australia Bank in 2004. The high level of impairments has weighed heavily on Danske.