INBS reports losses of €2.5bn

IRISH Nationwide Building Society has reported a loss of almost €2.5 billion for last year, having set aside almost €2.8bn for bad debts.

INBS reports losses of €2.5bn
Tue, 20 Apr, 2010 - 01:00
Brian O'Mahony

The figures compare with a loss of €243m in 2008, when the modestly sized society set aside just €464m for bad loans.

The former chief executive of INBS Michael Fingleton walked away with a €27m pension last year, after running the business virtually single handedly for 37 years.

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CourtsPlace: IrelandPerson: Michael FingletonPerson: FingletonPerson: Gerry McGinnPerson: McGinnPerson: Danny KitchenPerson: KitchenOrganisation: INBSOrganisation: Irish Nationwide Building SocietyOrganisation: NAMAOrganisation: EBSOrganisation: EU
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