Media speculation suggests that ACC Bank, which is owned by dutch Rabobank, is reviewing its operations in light of the current economic climate.
ACC Bank, which had a large exposure to the construction sector, incurred a loss of €244 million in 2008 after writing off bad loans of €373 million.
This was an increase of almost €300 million, reflecting the sharp economic deterioration. The bank had carried out a detailed review of its loan book, particularly its exposure to construction and property.