AIB losing €11.5m every day in Ireland

AIB bank lost a total of €2.65 billion, or more than €8.7 million a day, overall for 2009 and €3.5bn in Ireland, the equivalent of €11.5m for each working day.

This was the first full year loss in the group’s history. And the figures raise serious doubts about its ability to stand alone without the Government taking a substantial majority stake.

Losses in the bank’s home market hit a massive €3.5bn, which were offset by the gains in the group’s more profitable arms, including its Polish subsidiary and its US associate M&T.