Tuesday 6 December 2016

Emmet Oliver: Anglo the destroyer can't be killed off as it devours wealth

Emmet Oliver

Published 01/04/2010 | 05:00

IT'S finally official -- Anglo Irish Bank has destroyed more wealth than any other company in Irish history. Its record loss of €12.7bn is unlikely to be matched by another Irish company for decades, if ever.

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Flicking through the annual report and accounts, one can find all sorts of gruesome records set by the bank.

Write-offs on loans given to directors past and present, for example, are likely to set another record of €108m. The losses on Anglo's property loan book, including NAMA, meanwhile, come to a staggering €15.1bn -- another likely record.

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