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ACC Loan Management Limited Announces plans to outsource 100% of its loan book to Capita Asset Services.

20 November 2015

ACC Loan Management Limited Announces plans to outsource 100% of its loan book to Capita Asset Services.

Dublin, 20 November 2015 – ACC Loan Management, formerly ACCBank, today announced plans to further extend its loan outsourcing arrangements with Capita Asset Services, which will see 180 of its 250 employees transfer to Capita during the first quarter of 2016. The rest of the employees will remain with ACC Loan Management/Rabobank. The extension of the outsourcing arrangement is subject to the normal regulatory approvals.

This outsourcing arrangement will not affect Rabobank Ireland plc or RaboDirect, two other operations of the Rabobank Group in Ireland.

In November 2013 ACC announced the closure of its regional business centres to the public and its withdrawal from providing retail banking services as part of the process to hand back its banking licence. These changes took effect from mid-2014 and also included outsourcing the management of 10% of ACC’s loan book to Capita. Since then, ACC has been considering options for the remainder of the loan book and recently made the decision to extend the contract with Capita to cover the entire book.

Under Transfer Regulations, designed to protect employment, all employees who are engaged on loan management and associated activities which are being outsourced to Capita will transfer with those activities on their existing terms and conditions to Capita.

Loan customers of ACC will shortly receive communication about this extended outsourcing as well as details of any changes in contact details in due course. There is unlikely to be any significant impact on customers from this outsourcing.

For further information, please contact: Sheila Gahan, WH Tel: 01 669 0030 or 087 234 2409

sheila.gahan@ogilvy.com