Irish banking sector may need extra €10bn capital

THE Irish banking sector may need up to €10 billion in additional capital on top of the €7bn already pledged by the state to the two major banks.

That’s one of the key findings in a report produced jointly by Davy, Goodbody and NCB Stockbrokers.

The production of a unified report was “unprecedented” said Bernard McAlinden, head of research and strategy at NCB, who launched the report in Dublin yesterday.