Several parties are still interested in acquiring ACCBank, its chairman Mr Padraic O'Connor said yesterday.

At the announcement of the bank's half-year results to June 30th, 2001, Mr O'Connor said: "Discussions are ongoing with the institutions involved and we are confident of a successful outcome.

"We are bound by confidentiality agreements regarding these discussions and cannot make any further comment at this stage."

So far, Dutch bank Rabobank is the only party to have been identified as having made an indicative offer.

ACCBank could have a price tag of between €100 million (£78.75 million) and €250 million but much will depend on the level of interest in the bank. Recent speculation has put the price tag at €170 million. Pre-tax profits at the State-owned bank after provisions for bad and doubtful debts of €1.24 million and restructuring costs of €4.89 million, amounted to €9.34 million.

This compared to a loss of €11.78 for the same period last year following the bank's €21 million settlement of its DIRT liabilities.

ACCBank recorded an operating profit of €15.47 million before bad and doubtful debt provisions and exceptional items, a 12 per cent rise on €13.81 million for the same period last year.

Total operating income rose by 8 per cent to €46.053 million. Fee income jumped by 25 per cent from €5.23 million to €6.5 million.

Net interest income was €38.74 million, a 4 per cent rise on same period last year.

The bank's chief executive Mr Colm Darling attributed the positive results to a change in its focus and business over the past 18 months.

"Strategic initiatives, including the re-focusing of our business towards chosen target markets, elimination of unprofitable activities, streamlining of processes and increased focus on value-added activities have resulted in increased income, while allowing a 7.5 per cent reduction in staff numbers since the start of this year.

"Our results for the half-year demonstrate clearly that our strategy is working," said Mr Darling.

ACCBank's new strategy has seen it exit unprofitable business such as retail banking and mortgages, close its Dublin branches and enter into third party arrangements which has allowed it to reduce its administrative workload.

It is now concentrating on business banking and has opened business banking centres in Cork, Limerick, Galway and Waterford.