AIB in €900m Allfirst bail-out - report

The Allied Irish Bank has spent €900m in the past two months to save its US subsidiary, Allfirst, according to reports this morning.

Fri, 05 Apr, 2002 - 08:46

The Allied Irish Bank has spent €900m in the past two months to save its US subsidiary, Allfirst, according to reports this morning.

The loans were necessary to help the subsidiary survive following foreign currency losses incurred by trader John Rusnak.

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CourtsAllfirstPlace: USPlace: BaltimorePerson: John RusnakPerson: RusnakOrganisation: AIBOrganisation: AllfirstOrganisation: Allied Irish bank
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