Abandoned premises of the planned new headquarters of Anglo Irish Bank at Spencer Dock, Dublin, Ireland. Photo:Jeff Gilbert
Anglo Irish Bank Corporation (Irish: Banc Angla-Éireannach) is a state-owned bank based in Ireland with its headquarters in Dublin. The company mainly deals in business and commercial banking, with the result that it has only a limited retail presence in the major Irish cities. It also has wealth management and treasury divisions. Anglo-Irish has operations in Austria, Switzerland, the United Kingdom, the United States, and the Isle of Man. Anglo Irish Bank's heavy exposure to property lending, with most of its loan book being to builders and property developers, meant that it was badly affected by the downturn in the Irish property market in 2008. In December 2008, the Irish government announced plans to inject € of capital for a 75% stake in the bank, effectively nationalising Dublin and London Stock Exchanges immediately suspended trading in Anglo Irish's shares, with the final closing share price of € representing a fall of over 98% from its peak. On 16 January 2009, the Taoiseach Brian Cowen stated that is was "business as usual" at Anglo Irish Bank and that people should be reassured that the bank is solvent. Between June and September 2009, the Minister for Finance provided €4 billion in capital. In a statement on 30 March 2010, a day before Anglo Irish Bank reported its financial results, the Minister Of Finance, Brian Lenihan announced an injection of € billion into the bank, noting that a further €10 billion may be required at a later stage to cover future losses and ensure an adequate capital base. Since the nationalization of Anglo Irish Bank a number of controversies have arisen over certain business practises & loans, including loans to directors, and loans to people associated with Brendan Murtagh, EMPG and the QUINN group.
Size: 5616px × 3744px
Location: Anglo Irish Bank, North Wall Quay, Spencer Dock, Dublin, Ireland.
Photo credit: © Jeff Gilbert / Alamy / Afripics
License: Licensed
Model Released: No
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