180 ACCBank jobs to go in services withdrawal

ACCBank is to cut 180 jobs, stop providing deposit and current accounts and focus solely on debt recovery.

In a statement, the bank said it will close all of its public business centres and give up its banking licence.

ACC employs 470 people in Ireland and it said it will reduce this by 180 through a voluntary severance scheme.

It said the bank would write to all customers shortly and communicate its plans.

The bank has been reporting losses since 2007.

Country manager Kevin Knightly said losses incurred because of the property crisis will see its costs exceed income during 2014 and that is unsustainable.

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