Anglo tells Dept of Finance it needs fresh capital

Anglo Irish Bank executives have told the Department of Finance that the bank needs an injection of up to €2 billion in capital from the state.

2nd May, 2009

Anglo Irish Bank executives have told the Department of Finance that the bank needs an injection of up to €2 billion in capital from the state.

It is understood that most of the money is needed just to keep the bank’s capital base above the minimum levels required by the Financial Regulator under its banking licence.

A rapid deterioration in the performance of Anglo’s property loan book has seen bad debts and impaired...

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