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July 30, 2004: Last week the High Court directed that the official Inspectors' Report into the affairs of National Irish Bank (NIB) should be published in full. It will be accessible on the web after 10 am on Friday, 30 July. Mr Justice Peter Kelly said the inspectors had made findings against a large number of senior bank personnel who carried or shared responsibility for the activities investigated. NIB  estimates that its commitment to addressing the issues identified will run to 64 million. The judge also ordered that the Inspector's costs and the legal costs related to the the preparation and production of the report be borne by National Irish Bank.

In a statement following the High Court judgment , the NIB said "The bank has been working for more than six years to address the issues which gave rise to the report, cooperate with the investigation, develop reimbursement schemes and implement a wide ranging compliance programme.

Some of the issues covered in the report include the improper charging of interest and fees to NIB customer accounts, improper removal of funds from accounts and allegations that the NIB facilitated tax evasion through the offshore investment schemes operated by NIB Financial Services. The investigation covered the ten-year period from 1988.

Click for Summary and Contents of Report ( in PDF Format Size: 18mb )

Click for Report split into categories + Statement from the Director of Corporate Enforcement

National Irish Bank is a subsidiary of National Bank of Australia

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