Chief is adamant bank can and will stay independent

DAVID DRUMM, the chief executive of Anglo Irish Bank put in a strong defence of the bank when he met the media for the launch of the bank’s annual results.

Despite the plunge in the share price yesterday Drumm believes the bank can and will stay independent and will not need to merge with any other Irish institution or indeed need any injection of funds from the state to achieve its goal.

On the day of the interim’s in May, Anglo’s shares climbed 47 cents to €9.67 but fell by 28.7% yesterday as the markets showed their disappointment in the figures and the shares closed down at a paltry 66.4 cents.