Belfast Telegraph

17.7bn euro losses for Anglo Irish

Nationalised lender Anglo Irish Bank has revealed 17.7 billion euro in losses.

The figures are the worst on record in Irish corporate history, and slightly higher than predicted last month.

The nationalised lender's massive shortfall last year includes impairment charges of 7.8 billion euro and a loss of 11.5 billion euro on loans taken over by the state's toxic assets agency.

The bank has so far cost the Irish taxpayer almost 30 billion euro in recapitalisation.

Mike Aynsley, Anglo's chief executive, said he is confident the taxpayer will not be forced to pour any more money into it.

While staff numbers dropped from 1,800 to 800 at the lender, some 200 employees were moved to Allied Irish Bank along with the transferral of deposits last month.

Mr Aynsley's pay last year totalled almost 1 million euro.

The latest figures show he took home a salary of 500,000 euro with another 341,000 euro in benefits and 133,000 euro in pension payments.

Alan Dukes, Anglo's chairman, was paid 127,000 euro.


From Belfast Telegraph