Saturday March 28, 2020

Findings in Project Atlas

The €63 billion land and development bombshell: This was the biggest danger facing Irish banks at that time as land and development land generated little income and was always going to be the slowest to recover.

14th March, 2015
Brian Cowen: the former taoiseach was confident about the banks in 2008 Picture: Tony O'Shea

Loans in this category for each bank were: AIB (€23.7 billion); Bank of Ireland (€13.6 billion); Anglo (€19.7 billion); Irish Nationwide (€5.6 billion); EBS (€516 million); Irish Life and Permanent (Zero).

Anglo’s top 20 development/land clients alone owed €6.6 billion.

Irish banks’ €121.5 billion exposure to Britain: PwC notes that “40 per cent of loans are lent outside Ireland with 55 per cent of Irish Nationwide’s book outside Ireland, primarily in Britain:...

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