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ACC Loan Management Limited, formerly ACCBank plc, was originally a commercial ngân hàng in Ireland that focused on agriculture and SME lending, and later became a company that focussed on managing the lending facilities of its existing clients. The ngân hàng had its origins in the Agricultural Credit Corporation (Corparáid an Chairde Talmhaíochta) mix up in 1927 in the Irish Free State to lớn finance agriculture; the ngân hàng was successful and led to lớn the creation of the Industrial Credit Company, which was modelled on it and provided finance to lớn industry. In the early 1990s, the company name was changed from "Agricultural Credit Corporation plc" to lớn "ACCBank plc" in order to lớn signify that the company was then targeting more than vãn simply agricultural customers. In early 2002, the ngân hàng was sold by the Irish Government to lớn Rabobank, it was one of the three entities of the Rabobank (Ireland).

Company history[edit]


The Agricultural Credit Corporation was founded in September 1927 and was one of the first creations of the Irish Free State.


A new Agricultural Credit Act empowered the corporation to lớn deploy up to lớn 25% of its risk assets outside agriculture and the foundations of present-day ACCBank were laid.


ACCBank refocused its business model on the SME and Agri sectors positioning the ngân hàng as a relationship ngân hàng in these sectors.


ACCBank became a wholly owned subsidiary of Rabobank.[1] With the backing of its parent, ACCBank embarking on ambitious plans to lớn strengthen and grow its presence in Ireland as a leading Business and Agri-business ngân hàng. As part of the Netherlands-based, former AAA rated, Rabobank Group, ACCBank’s range of products and services included commercial mortgages, working capital finance, asset finance and leasing and wealth management.

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2014 - ACCBank Restructuring, ceases banking, debt recovery focus

ACCBank decided to lớn restructure with a focus solely on debt recovery, and stopped delivering banking services on 30 May năm trước. This meant the closure of current accounts and return of all deposits, including interest due.[2] All Business Centres in Cork, Drogheda, Dublin, Galway, Kilkenny, Limerick, Mullingar, Sligo and Waterford were closed to lớn the public and the management of loan facilities was centralised instead of being dealt with the local business centres.

ACCBank ceased to lớn be a ngân hàng mid-2014 returning its banking licence but continued to lớn manage its loan portfolio. After ACCBank returned its banking licence, it was regulated by the Central Bank of Ireland, but with an alternative status and not as a ngân hàng.[2]

Commenting on the changes, country manager Kevin Knightly for parent Rabobank found losses incurred by ACC Bank Plc because of the property crisis, a position emerging of its costs exceeding income during năm trước and that position was unsustainable for its parent, requiring immediate action to lớn stem loses. The ngân hàng had reported losses since 2007.

ACC also explored the possibility of outsourcing a portion of its loan book, in the region of 10%, excluding agricultural loans and selected Capita as the preferred service provider who have 1,000 staff in Ireland.

ACC had 5,000 deposit customers totaling €110 million. Overdrafts on current accounts amounted to lớn almost €75m.

The parent company, Rabobank Group, had provided capital tư vấn of €1.3 billion to lớn ACC since 2008 with over €2.1 billion of the loan book written down since 2008.[3]

SIPTU and UNITE trade unions wanted the Government to lớn take ACC Bank back into State ownership and were looking for a meeting with the Minister for Finance in an attempt to lớn seek to lớn save jobs. They referred to lớn the inclusion of a State investment ngân hàng in the Programme for Government. There was some redeployment opportunities to lớn Rabobank but no new business was being generated for some time with the bank's staff focused on debt recovery. [3]

2018-19: Sale of loans In December 2018, ACCLM transferred the ownership of outstanding loans to lớn the Dutch parent company, which sold the portfolios the following year.[4]

The remaining assets and liabilities of ACCLM, mainly consisting of dormant or unclaimed accounts, were transferred to lớn ACC Investments Limited.[5] ACCIL still operates from a small office in the International Financial Services Centre with a skeleton staff.

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See also[edit]

  • List of Irish companies
  • Agricultural Mortgage Corporation


External links[edit]

  • Official site
  • Documents and clippings about ACC Loan Management in the 20th Century Press Archives of the ZBW