Anglo Irish may suffer a €450m property hit

Anglo Irish Bank could be forced to write down the value of its commercial property book by up to €450 million as a result of a recent High Court examinership case

Ian Kehoe - avatar

Ian Kehoe

10th January, 2009

Anglo Irish Bank could be forced to write down the value of its commercial property book by up to €450 million as a result of a recent High Court examinership case, according to new analysis from stock broking firm NCB.

NCB said the case would also have major implications for AIB and Bank of Ireland, due to their exposure to the property and construction sector. In total, the broker said the main banks could be...

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