The decision to pay the money before gardai were alerted has been roundly criticised, with Michael McDowell warning that the delay could encourage copycat raids.

However, top officials at Danske Bank in Copenhagen are understood to have backed the way the situation was handled. The robbery is the first real test for Andrew Healy, a 39-year-old career banker appointed by Danske Bank to head up NIB's expansion plans in Ireland. It is not known if he took the decision or whether it was made in Denmark.

The bank has refused to comment while the garda investigation continues, but Healy issued a statement following McDowell's intervention on Thursday. "Some comment to date appears to unfairly judge the actions of staff involved and in doing so fails to adequately take account of the dangerous, difficult and traumatic circumstances in which they found themselves, " he said. "Our priority continues to be the safety and welfare of the family and our staff."