Saturday 24 June 2017

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

Emmet Oliver

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.

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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