Anglo deal to net BoI €41m

Bank of Ireland will make about €41m in profit on its involvement in the deferral of the Anglo promissory note repayment.

Under the promissory note system, the State is due to pay €47.4bn over a 20-year period to cover the costs of bailing out Anglo Irish Bank and Irish Nationwide, now merged as IBRC.

This year’s repayment of €3.06bn was due last month, but the Government announced a complex deal to avoid handing over cash.