Anglo prepares for hit of €1 billion on Quinn loans

Anglo Irish Bank is preparing to provide for a €1 billion loss in its accounts on the €2.8 billion it has loaned to Sean Quinn’s family. It is understood the bank expects to lose at least that amount on loans provided to the Quinn family.

Ian Kehoe - avatar

Ian Kehoe

17th April, 2010

Anglo Irish Bank is preparing to provide for a €1 billion loss in its accounts on the €2.8 billion it has loaned to Sean Quinn’s family. It is understood the bank expects to lose at least that amount on loans provided to the Quinn family.

Anglo has already written off €350 million of loans to ten investors who bought some of Quinn’s shareholding in the bank in 2008,which brings the state bank’s losses...

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