Once EU gives approval, troubled bank will emerge with new name

ANGLO Irish Bank will re-emerge under a new name and business model, if and when its restructuring plan is approved by the European Commission.

Once EU gives approval, troubled bank will emerge with new name

“The new bank will have to be re-branded in order to emphasise the fact that it is a different animal,” Anglo’s non-executive chairman, Alan Dukes told the Joint Oireachtas Committee on Finance and Public Service, yesterday.

Mr Dukes – who formally took over as Anglo chairman this week – said that there were no plans for the bank to become a mutual or retail bank, “as both would have significant costs”, but that its new form would be “a medium-sized commercial bank”.

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