NIB customers to be covered by Danish guarantee

National Irish Bank (NIB) has opted not to seek inclusion under the Government’s bank guarantee after its parent Danske Bank Group said it would be joining a similar scheme being set up by the Danish government.

In a statement by NIB this morning the bank said its Irish customers will now be covered by the new Danish agreement, which is broadly similar to that introduced in Ireland.

“As part of the [Danish] agreement, depositors and creditors with unsecured claims are fully covered by the State guarantee regardless of the amount”, NIB said in a statement.

Andrew Healy, NIB chief executive said: “National Irish Bank customers can now rest easy, as they will be fully covered by the new Danish agreement.”

“This move ensures that our customers benefit from a State guarantee that has a similar standing to the recently announced Irish Government guarantee scheme.

He said NIB customers’ funds were “100 per cent guaranteed under the Danish government guarantee”.