EBS expects to complete sale despite €250m pre-tax loss

EBS lost a massive €250 million before tax in the first half of 2010 due to bad debt charges on its loans.

The group suffered write-offs of €275m between loans going across to NAMA and on the remainder of its loan book.

Excluding the NAMA losses, the group would have made a pre-tax loss of €93.1m for the six months ended June 2010.